GSU’s Defense Fund directors and GSU general secretary Hugh Wagner met with RBC investment advisors Keith Pavo and Derrick Ng to review Defense Fund investment returns for 2017. Pavo and Ng provided a portfolio review with a focus on fixed income returns and re-balancing the equity component between Canada and US stocks before reporting on the Federated Investment US equities component of the Fund. Their report also included a recommendation to invest $250,000 with RP Investment Advisors.
After an opportunity to ask questions, board directors deliberated and voted to approve the RBC recommendations to re-balance the equity portion of the Fund investments to provide a 50/50 Canada/US ratio/exposure and to invest $250,000 with RP Investment Advisors.
The Board also undertook to review and update of the Fund investment policies and guidelines. RBC will be providing copies of the current policy and suggested wording changes.
Delegates are elected for a two-year term. The current Defense Fund directors are Ron Gerlock (Local 8 – Advance), Sharlene Tetrault (Local 5 – Western Producer), Brian Lark (Local 1 – Viterra), Wilfred Harris (Local 1 – Viterra), Dennis Piasta (Local 14 – Richardson).
The next elections for Defense Fund director positions will be held at the upcoming GSU Biennial Policy Convention March 22 to 24, 2018 in Humboldt, SK.
If you are interested in becoming a Defense Fund director or learning more about the position, contact Hugh Wagner at GSU’s Regina office.
PHOTO: (L-r) GSU general secretary Hugh Wagner, Sharlene Tetrault, Wilfred Harris, Ron Gerlock, Dennis Piasta, Brian Lark, Keith Pavo, Derrick Ng.