Future-proof Investing - New Municipalities Join Prudent Investor Program

Since mid-2020, ONE Investment’s Prudent Investor (PI) Program has offered municipalities of any size a turnkey solution to take advantage of the broader investment powers under PI.

Two new municipalities – Quinte West, a single-tier municipality in eastern Ontario, and the Municipality of Neebing, located in the Thunder Bay District, are joining ONE’s PI Program. This will bring the total number of municipalities in the program to eight, with combined investment of more than $390.1 million.

For Quinte West, protecting long-term reserves from inflation was key.

“Our reserve and reserve funds need to grow with inflation. The costs for goods and services we buy are on the rise, and given how equity markets trend over time, using this more diversified investment portfolio maintains our buying power while managing risk,” said Director of Finance, Caleb DenOuden.

With about 2,000 residents, Neebing saw the benefits of pooling its money to get in on the investment power and scale of a larger investing group, according to Treasurer Laura Jones.

Jones noted that support from the ONE Investment team was instrumental to creating a reserve plan that aligned with her 10-year capital plan. This work was key to adopting the Prudent Investor Standard.

With one full calendar year under its belt, the ONE Prudent Investor Program has demonstrated strong performance, robust reporting and oversight, as well as strategic services that take the load off municipal finance staff.