PMRC Investment Advisory Council (PMRC Role)

The PMRC Investment Advisory Council seeks 3-7 new volunteer members from the Pacific Mountain Regional Council. This could be you and your friends!

Read more about Volunteering for our Regional Council on the nominations page on our website!

For information and encouragement, contact Rev Graham Brownmiller, Nominations Committee Chair at


What is the PMRC Investment Advisory Council?


The Investment Advisory Council (“Council”) of the Pacific Mountain Regional Council of The United Church of Canada (“PMRC”) is established to assist the Director of Finance in overseeing all investment activities in PMRC.

Composition and Operation

Composition of Council

  • Other than the ex-officio member and the Director of Finance, appointments to the Council are made by the Executive Minister on recommendation of the Nomination Committee of PMRC.;
  • Appointments to the Council shall be for a period of three years, which may be extended for two further three-year periods;

2.1.3    The Council members are appointed on the basis of their expertise and interest in investment, business and economics;

2.1.4    A majority of members of the Council must have a significant degree of investment expertise.

2.1.5    The Council shall consist of three to seven members, exclusive of the ex officio member, selected from among the following membership categories, in a priority sequence:

      1. Members of PMRC Executive;
      2. Members of Chinook Winds Regional Council (“CWRC”) Executive;
      3. Members of Finance Advisory Council (“FAC”);
      4. Members of communities of faith and other entities (that are part of or supported by the United Church of Canada) who have funds invested in PMRC’s investment portfolio; and
      5. Members of the wider United Church of Canada.

2.1.6    The Executive Minister shall serve as ex officio member of the Council;

2.1.7    The Council shall name its own Chair and Secretary;

Operating of the Council

The Council may engage legal counsel or other consultants on terms and conditions that the Council deems reasonably appropriate (including reasonable fees) to carry out its duties and responsibilities;


2.3.1    The Council shall meet at the call of its Chair at least twice a year;

2.3.2    A majority of members of the Council shall constitute the quorum (“Quorum”);

2.3.3    Matters presented to the Council for decision at any meeting shall be decided by a majority of votes.  In the case of an equality of votes at a meeting of the Council, the Chair shall, in addition to the Chair’s original vote, have the deciding vote;

2.3.4    The Secretary shall give notice of Council meetings to members of the Council;

2.3.5    Minutes of the Council meetings shall be prepared by the Secretary, who shall, subsequent to Council’s approval, keep them in a book of minutes;

2.3.6    The Executive Minister may attend Council meetings and, upon the Council’s request, any other officer or employee of PMRC or any special advisor may attend Council meetings to assist and advise the Council as required;

2.3.7    The Council will from time to time meet in camera, with Council members only, with the Executive Minister, and, as needed, with members of management or special advisors;

Governance of the Council

The Council shall:

2.4.1    outline a schedule of activities and the annual agenda for its meetings annually. The Council shall confirm that all responsibilities outlined in these Terms of Reference and the annual agenda have been carried out. Any other matters that arise from time to time will be added to the agenda on an ad hoc basis;

2.4.2    assess its performance against these Terms of Reference and provide the results and make recommendations;

2.4.3    review these Terms of Reference at least once every five years and recommend any changes;

Responsibilities and Duties

The Council shall:

  • determine the appropriate asset mix for the Pooled Investment Fund, and adjust each asset mix as appropriate based on Council members’ views and market conditions;
  • review at regular intervals PMRC’s investments and monitor the performance of investment manager(s) with a view to maximizing the total return while taking due regard for risk, keeping in mind the need for immediate income as well as the preservation and enhancement of the future purchasing power of the funds;
  • make recommendations concerning the management of the investment funds of PMRC (operating, held in trust, externally and internally restricted);
  • review and recommend for approval strategies, guardrails and capital allocations for all material investment activities, including alternative investments. Investment transactions which include a lending component will also be considered by the Investment Council;


The Council shall review and assess all risks associated with investments and the management thereof;


The Council shall review and recommend for approval from time to time the Statement of Investment Policy and any other policies incidental to the Council’s mandate;

Monitoring and Reports

The Council shall review reports on investment activities, portfolio performance and capital requirements and usage;

Delegation of Authority

The Council shall review and recommend to the PMRC Executive for approval, on an annual basis, the delegation of authority to the Council and senior management for investments;

Functions delegated to the Council:

    • approve the appointment and termination of investment managers and advisors;
    • review all matters related to the investment and other investments;
    • review, at least annually, the Statement of Investment Policy, and monitor compliance with this Policy;
    • review, at least annually, the performance of each fund manager and providers of investment-related services;
    • implement investment matters as provided for in the Statement of Investment Policy, including but not limited to currency hedging and portfolio rebalancing;
    • approve the investment management fee and any modifications thereto;

Functions subject to the authority of the PMRC Executive:

    • recommend to the PMRC Executive the approval of all investment policies, including the Statement of Investment Policy, and any modifications thereto;
    • recommend the approval of the dollar amounts to be withdrawn each year from investment funds to support operations.
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