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Independent Review Committee

 

What is an Independent Review Committee (IRC)?

An IRC is an independent review committee, featuring no fewer than three individuals, whose role is to oversee all decisions made by managers of publicly traded investment funds on issues of perceived or actual conflicts of interest. Securities legislation (National Instrument 81-107: Independent Review Committee for Investment Funds) came into effect on May 1, 2007 that requires every Canadian publicly traded investment fund to have an IRC.

Good governance is an important issue for investors. As a result, CC&L Funds is proud to have assembled an independent review committee comprised of highly accredited individuals with a wealth of valuable experience. We encourage you to review the biographies of our IRC members below.

Committee Members

Fred Lazar is currently a professor and faculty member at York University, Schulich School of Business. In addition to his distinguished academic career where he was the past Director of the Graduate Program in Economics for York University, he has worked in a senior advisory capacity to multiple levels of government. He is a board member, and Chair of the Governance and Conduct Committee of CFF Bank. He has also served as a senior advisor to a number of CEOs at national and international corporations. Fred holds a Ph.D. from Harvard University and has published a number of books and articles in the areas of economic and employment policy, industrial development, accounting practices, and tax.

Karen McRae ICD.D has over 25 years experience in pension and mutual fund investing. Karen was previously Sr. Vice-President, Investments at Mackenzie Financial where she was head of the asset allocation team and chaired Mackenzie’s Management Fund Oversight and Derivatives Committees. Karen is also a member of the Independent Review Committee for Sentry Investments. A committed volunteer, she contributes her investment expertise in the not-for-profit sector by serving on the boards of several pension and endowment funds.

Howard J. Atkinson is currently President of Tax Matters for Dentists (TMFD), a financial advisory firm focused on dental professionals. Prior to joining TMFD he was a founder and president of Horizons ETFs Management Inc. and over his three decades in financial services has held executive positions with Mackenzie Financial Corporation, CI Funds and Barclays Global Investors Canada Ltd. His board experience spans public and private companies as well as non-profit organizations. He is the past founding chair of the Canadian ETF Association and a past president of the CFA Society Toronto. He is the author of four books including The New Investment Frontier III: A Guide to Exchange Traded Funds for Canadians, (Insomniac Press, 2005). Mr. Atkinson is a CFA charterholder and also holds the CIMA® and ICD.D designations.

Each year, the IRC will issue a Report to Securityholders. Please click here to view the 2017 report.

Contact Us

Toronto

1-888-824-3120

Montreal

514-490-2787

Calgary

403-909-8446

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