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Queen’s Pension Plan

Queen’s Pension Plan. Annual General Meeting December 6, 2013. Agenda. Members of Queen’s Pension Committee Summary of Pension Plan Membership Pension Plan Asset Reconciliation Summary of Plan Assets at August 31, 2013 Integrated Private Debt

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Queen’s Pension Plan

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  1. Queen’s Pension Plan Annual General Meeting December 6, 2013

  2. Agenda • Members of Queen’s Pension Committee • Summary of Pension Plan Membership • Pension Plan Asset Reconciliation • Summary of Plan Assets at August 31, 2013 • Integrated Private Debt • Returns Compared to Benchmark and BNY Mellon’s Universe • Returns Compared to Other Canadian University Pension Plans • True vs. Paid Pensions • Financial Position of Queen’s Pension Plan – Going Concern Basis • Financial Position of Queen’s Pension Plan – Wind-Up/ Solvency Basis • Questions

  3. Members of Queen’s Pension Committee • Appointed by Members • James MacKinnon • Bill Cannon • Peggy Hauschildt • Jonathan MacDonell • Alison Morgan • John Gordon • Appointed by Board of Trustees • David Grace • Don Raymond • Peter Copestake • Kathryn Bush • Jill Wagman • Ex Officio • David Dodge • Daniel Woolf • Barbara Palk • Caroline Davis • Al Orth

  4. Summary of Pension Plan Membership

  5. Pension Plan Asset Reconciliation ($000’s)

  6. Summary of Pension Plan Assets at October 31, 2013

  7. Asset Manager Presentation Integrated Private Debt Corp.Canada’s Leading Independent Private Debt Manager

  8. Integrated Private Debt: Corporate Profile • Integrated Private Debt Corp. is Canada’s leading independent provider of investment grade corporate debt and has been originating and managing private debt investments for institutional investors since 1987 • In addition to providing an alternative source of debt financing for mid-market Canadian companies, IPD offers investors an attractive yield, diversification and low volatility • Since its inception, IPD has originated, underwritten and managed more than $2.5 billion in private placement loans • In October 2013, IPD closed its 4th private corporate debt fund raising $387 million 8

  9. What is Private Debt? • Senior ranked private placement debt of investment grade mid-market companies • Fixed interest rate and fixed term to maturity (terms up to 10 years) • Secured by first charge on key operating and economic assets of the borrower • Custom designed loans to meet unique borrowing requirements • The uses of private debt are broad and diverse, including debt financing for company expansion, capital projects and acquisition financing • For investors, an investment in a private debt funds represent an attractive source of diversification and current monthly income, with returns above the benchmark at a lower level of volatility 9

  10. Sample Transactions 10

  11. Integrated Private Debt - Investment Performance

  12. QPP Returns Compared to Benchmark &BNY Mellon’s Universe of Canadian Pension Plans • At September 30th, 2013:

  13. QPP Returns Compared to Other Canadian University Pension Plans • CAUBO survey results, as at December 31, 2012:

  14. True vs. Paid Pensions 14

  15. Financial Position of Queen’s Pension Plan:Going Concern Basis ($000’s)

  16. Financial Position of Queen’s Pension Plan:Wind-Up/Solvency Basis ($000’s)

  17. Thank You Questions?

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