Investment and Commercialisation Committee
Terms of Reference
The primary role of the Investment and Commercialisation Committee is to monitor and report to the Senate the appropriateness of policies, performance of management and achievement against plans in the investment and commercialisation activities of the University.
In achieving its primary role, the Committee will have the following functions:
1. Investment
- a. Advise Senate on asset weighted target investment returns, monitor appropriateness of established policies and asset allocation strategies, and recommend changes as required to achieve the target returns.
- b. Monitor asset class actual investment against target allocations and recommend changes to parameters as required.
- c. Monitor reporting of individual manager mandates and performance, and internal management action in cases of under performance in implementation of external and internal mandates, including the Treasury function.
- d. Receive recommendations as to the appointment and retirement, as appropriate, of consultants and external managers, and make such decisions subject to reporting to Senate.
- e. Regularly review the efficiency and effectiveness of risk management strategies used to manage the portfolio.
- f. Review key investment related aspects of major Infrastructure projects as requested by the Finance and Infrastructure Committee and advise and recommend as appropriate.
- g. Receive recommendations relating to bequest property investment matters (particularly those dealing with any proposed sale/purchase of land) and make such decisions as appropriate.
- h. Receive recommendations for the acquisition, development and sale of portfolio properties, bequest properties, farms and student accommodation.
- i. Monitor the efficient operation of the University’s student accommodation and commercially operated farms.
2. Commercialisation
- a. Monitor adequacy and appropriateness of policies governing commercialisation of intellectual property owned by the University, participation in “for profit” joint ventures and “spin off” strategies, and consultancy engagements by the University and its staff, and recommend to Senate changes as needed.
- b. Monitor reporting by management of the performance of commercialisation activities and corrective actions taken in cases of underperformance, both in internally managed commercial ventures and external commercialisations.
- c. Recommend to Senate investment decisions to enter/exit commercial ventures, where such are beyond delegated authorities, and monitor such decisions carried out under delegation.
- d. Regularly review the efficiency and effectiveness of risk management strategies employed in relation to commercialisation activity.
Constitution
Ex-officio:
The Vice-Chancellor and Principal
The Chair of the Investment and Commercialisation Committee is elected by Fellows of Senate (and should not be a member of the University of Sydney staff or student) for two years. It is recommended that nominators consult with the Chancellor and Vice-Chancellor before submitting a nomination.
Two Fellows of Senate appointed by Senate after consultation by the Chair of the Investment and Commercialisation Committee with the Vice-Chancellor and the Chancellor for two years (or for so long as in office if shorter).
Two external members, with appropriate professional expertise and experience, appointed by Senate on the nomination of the Chair of the Investment and Commercialisation Committee with appropriate consultation for up to two years.
Term of office
The terms of office are set out in the Constitution above, and no individual is to serve continuously as a member of the Committee for more than two terms.
Quorum
At any meeting of the Committee, three members shall form a quorum.
Election
In accordance with current provisions governing election to Senate Committees which include provision for self-nomination.
Attendees
- The Chief Operating Officer and Deputy Vice-Chancellor (Committee Secretary)
- The Deputy Vice-Chancellor (Research)
- The Director, Investment and Capital Management
- The Director, Sydnovate
- Two University of Sydney academic staff, with appropriate professional expertise and leadership experience in research
- The Director of Finance, Treasury and Investments (Officer to the Committee)
Reporting to Senate
In addition to a report to Senate (which is a Senate agenda item), a copy of the full minutes of meetings and all supporting papers is made available to Fellows in the Fellows’ Room.
