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This is the proposed Investment Governance Policy which Beneficiaries will be voting ‘yes’ or ‘no’ on:
Our First Nation, to protect the rights and benefits of Beneficiaries under the Constitution, will put in place a Kwanlin Dün First Nation Investment Governance Act:
* To protect the funds paid under the Final Agreement from taxes, legal, political and creditor actions.
* To ensure that these funds are invested and managed at an acceptable level of risk for the benefit of current Beneficiaries and future generations of Beneficiaries.
Why do we need this policy?
The Investment Governance Policy is required by KDFN’s constitution. Until this policy is passed, KDFN is really limited in how it can invest and use money from the Final Agreement.
This means that the Final Agreement monies are growing very slowly. It also means KDFN can’t invest in business opportunities or use these funds to provide financial assistance to its Beneficiaries.
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What benefits will it create?
The Investment Governance Policy will allow KDFN to develop laws and guidelines that will help it invest the Final Agreement funds to allow the money to grow faster while also protecting the funds for the future.
The Final Agreement monies could soon start to be used for smart business investments and for the benefit of all KDFN Beneficiaries.
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If approved, what will happen next?
If the Investment Governance Policy is approved, KDFN will develop the Investment Governance Act.
The Act will allow KDFN to set up a Trust Fund. The Trustees (the people who manage the Trust Fund) will be KDFN Beneficiaries.
The Trustees will develop investment goals and objectives, and controls and reporting standards, to ensure the monies are carefully managed as directed by Beneficiaries.
As the Trust is being established, KDFN will consult with its Beneficiaries to decide about financial payout scenarios.
