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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

Howard J. Atkinson is currently CEO of Pascal WealthTech, a digital wealth management platform designed for financial advisors. In prior roles, Howard has successfully led innovation in financial services organizations over the past three decades. He pioneered actively managed ETFs as the co-founder and President of Horizons ETF Management and led the introduction of iShare ETFs into Canada at Barclays Global Investors Canada. Howard has held senior executive positions with other leading firms including Mackenzie Financial Corporation and CI Funds. The past founding chair of the Canadian ETF Association and a past president of CFA Society Toronto, he has advised several successful fintechs including WealthBar Financial and 3iQ, where he was Chair of the Board. The author of four books including The New Investment Frontier III: A Guide to Exchange Traded Funds for Canadians, Howard holds the CFA, CIMA® and ICD.D designations.

Anthony (Tony) L. Cox is currently a member of the PIMCO Canada funds and Harvest Portfolios Group funds Independent Review Committees and is a Director and past President of the Duke of Edinburgh’s Award, Ontario. Tony has extensive experience as a Director and Officer of various investment management companies and has been an active member of the Investment Funds Institute of Canada (IFIC) chairing various committees and the IFIC annual conference while also speaking at several industry-related conferences. His work experience includes launching and building investment fund management companies as CFO for investment management subsidiaries of SunLife Assurance Company of Canada and National Bank Financial Inc. and National Bank Financial’s Emissary wrap program. He is a CPA, CA and holds the ICD.D designation (ICD.D 2010).

Karen McRae ICD.D has over 30 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 Harvest Portfolios. 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.

Each year, the IRC will issue a Report to Securityholders. Please click here to view the 2020 report.

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