ATTENDED: Doug Gaetz – Chair and 1st National Vice-President, Cosimo Crupi – Co-Chair and RVP-Northern and Eastern Ontario, Jérôme Martel– Co-Chair and RVP-Quebec, Ken Bye – Presidents’ Representative, Local 00052 Barrie, Liam Merrigan – UTE Finance Administration Supervisor and Advisor.
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Discuss levels of unrealised gain to sell off ETF
The committee reviewed current market conditions and the performance of the existing ETFs. It was agreed that an ETF may be sold to realise gains once the following thresholds have been met:
For ETFs valued at less than $400,000.00, the unrealised gain threshold reaches 10%.
For ETFs valued at more than $400,000.00, the unrealised gain threshold reaches 8%.
When these thresholds are met, and recognising that timing may be a factor, the Finance Administration Supervisor will send a brief notice to the committee advising that the sale of the ETF will be initiated in order to realise the gains. the Finance Administration Supervisor will also reinvest the original principal in the same ETF, provided market conditions and other relevant factors continue to support its long-term growth potential.