What is the purpose of the Trust?
Section 1.4 of the trust indenture sets out the purpose of the TH Trust:
"The Trust has been settled to preserve the Trust Property (as hereinafter defined) for future generations of the Tr’ondëk Hwëch’in and to receiving, holding, managing, investing, allocating and otherwise any income earned by the Trust for the purposes of promoting, funding or carrying out social, community or economic development activities of direct benefit to the Tr’ondëk Hwëch’in."
Who can be a Trustee?
The Trustees are Tr’ondëk Hwëch’in citizens who are of legal voting age. Ideally, Trustees should possess some relevant experience (investments, economics, business, finance, accounting) or have served in some capacity of trust such as an elected leader or as a Board member.
Are all TH citizens eligible to serve as Trustees?
Citizens serving the First Nation in an elected capacity or in the running for an elected position are not permitted to serve as Trustees concurrently.
Who appoints the Trustees?
The Trustees are appointed and removed by the Trust Protector.
What is the Protector and what is their role?
The Protector is responsible to oversee and supervise the management and administration of the TH Trust. This includes ensuring that the Trustees are taking prudent steps to manage and administer the TH Trust in the best interests of the General Assembly and that the TH Trust is managed in accordance with the trust indenture. If necessary, the Protector can terminate Trustees and appoint replacement Trustees.
What are the Trustees' responsibilities?
The Trust Indenture empowers the Trustees "to do any act or thing in the management and investment of the Trust which in their judgment is wise and proper and in the best interests of the Trust and to the same extent as though they personally and beneficially owned the Trust Property".
Trustees are to delegate their investment responsibilities to professional investment managers. The trustees are responsible for appointing (terminating) and supervising the Fund's investment manager(s), custodian and other Fund Agents such as legal advisors, auditors and consultants.
The Trustees are responsible for ensuring compliance with the terms of the Investment Policy guidelines and for evaluating the Fund's investment performance. The Trustees are charged with the responsibility of formally communicating Fund performance to the Leadership and to the General Assembly.
How often will the Trustees meet?
Meetings shall be held at least once every calendar quarter and trustees shall meet in person at least semi-annually.
What type of information will the Trustees provide to TH citizens?
The Trustees will provide the Beneficiaries with an audited financial statement within six months of the Fund's year-end. These statements and the Auditor's report are available from the Trust or the First Nation's office. Bi-annually the Trust will host a citizens' meeting to provide updated information on its investments.
Who are the investment managers?
The TH Trust portfolio is managed by Shaunessy Investment Council and Mawer Investment Management Ltd., both of Calgary. RBC Investor Services is the custodian of the Trust’s assets and T.E. Indigenous Services works with the trustees on governance matters.
How often will the Trustees meet with the Investment Managers?
The Trustees meet with the manager quarterly to review Fund performance. On occassion a representative of the Investment Manager will attend the TH Trust citizen information session held in Dawson City.