About SUMAInvest
A new opportunity for Saskatchewan municipalities to pool reserves and benefit from a diversified, professionally-managed investment portfolio.
The SUMAInvest program allows urban municipalities to participate in the diversifed asset portfolio of the Community Foundation and benefit from the economies of scale. It offers municipalities a new option to diversify your reserve invesmtents, alongside term deposits and GICs.
SUMAInvest is the first program of its kind in Canada for pooled investment of municipal reserves. The program has been approved by the Saskatchewan Municipal Board, pursuant to Section 160(1)(vi) of The Municipalities Act.
At this time, municipalities may invest up to 25% of unappropriated reserves with SUMAInvest.
- 1
Council Resolution
Opening a SUMAInvest account starts with an approved resolution from your Council.
- 2
SMB Application
Before opening a SUMAInvest account, you must apply to the LGC for approval to invest.
- 3
SUMAInvest Account Agreement
Once you receive approval from the SMB, we will prepare an agreement to establish your
SUMAInvest account.
- 4
Initial Deposit
After signing your SUMAInvest agreement, it takes our team a day or two to setup your SUMAInvest account.
Effective reserve management is key to strong municipal finances
"The aspirations we all have for the future of our communities must be based on financial plans that support our long-term goals and vision. SUMAInvest provides a vehicle to help councils make financial planning decisions that can have a real impact."
Benefits of SUMAInvest
Our goal is to harness the power of a pooled investment portfolio to grow municipal reserves and put more money back into our communities.
Professional, Expert Management
Benefit from the expertise and experience of third-party investment managers. Qualified professionals apply strategic insights to maximize returns and reduce risk.
Access Funds Anytime
Enjoy the flexibility and peace-of-mind knowing that you can withdraw funds at anytime without penalty. There is no holding period and no locked-in term.
Diversified Investments
The well-balanced investment portfolio reduces exposure to market volatility with alternative investments in infrastructure, real estate, and mortgages.
Maintain Control Over Funds
Your funds remain under your ownership and are accounted for on your financials. Retain control over your funds without sacrificing growth potential.
Full Transparency
Trusted Partner
The Community Foundation has been a trusted steward of funds for nearly six decades, with a wealth of experience and robust governance structures.
For Communities of All Sizes
From resort villages to cities, the SUMAInvest program in open to all urban municipalities in Saskatchewan with a minimum deposit of just $10,000 to get started.
Cost Savings
Benefit from our economies of scale, low fees, and organizational expertise to save your municipality time and money that can be refocused on community impact.
Investment Portfolio
SUMAInvest leverages the diversified and professionally-managed asset portfolio of the Saskatchewan Community Foundation.
The SUMAInvest portfolio balances market-based equities with alternative investments, like infrastructure, mortgages, and real estate. The investments are structured with a long-term outlook and a commitment to investing locally in Saskatchewan businesses, jobs, and economic growth.
The Saskatchewan Community Foundation is an
institutional investor trusted with over $175 Million in assets. As a charity, we responsibly and prudently invest to earn returns for the benefit of the community.
5-year Average Return ~ 9.3%
57-year Average Return ~ 8.0%
SUMAInvest Fees
Community Foundation Administration Fee
0.5% Annual Fee, charged quarterly
Investment Management Fee
For professional active fund management, charged on a cost recovery basis.