170. Unless Retraite Québec authorizes, on the conditions it fixes, that the investment policy be simplified, the policy must set out
(1) the expected rate of return;
(2) the degree of risk involved in the investment portfolio, particularly as regards price fluctuations;
(3) liquidity requirements;
(4) the proportion of assets that may be invested in debt securities and equity securities, respectively;
(5) the permitted categories and sub-categories of investments;
(6) investment portfolio diversification measures conducive to an overall reduction of the degree of risk;
(7) rules and a time schedule applicable to the valuation of the investment portfolio and to the monitoring of the management of the investment portfolio and those applicable to the review of the investment policy.
Unless they are already set out in the plan, the policy must also include
(1) rules regarding the solvency of borrowers and the security required for granting loans out of the assets, in particular the lending of securities and hypothecary loans;
(2) rules applicable to the exercise of the voting rights attached to the securities forming part of the assets;
(3) the basis for the valuation of investments that are not traded on an organized market;
(4) rules applicable to the use of futures contracts, options, share purchase warrants or share rights or other financial instruments;
(5) rules regarding the loans that may be raised by the pension committee.
In the event of a discrepancy between the internal by-laws and the investment policy as regards any matter mentioned in this section, the latter prevails.
1989, c. 38, s. 170; 2006, c. 42, s. 28; 2015, c. 20, s. 61.