The union representing more than 200,000 Canadian public sector employees says the Public Sector Pension Investment Board’s investment in a for-profit, long-term care provider is inconsistent with its fiduciary and legal obligations to plan members. The Public Service Alliance of Canada is calling on the PSP to end its investment in Revera Inc., its wholly […]
With air traffic expected to drop by almost 50 per cent in 2020, institutional investors that use aircraft leasing as part of their investment strategies will see compelling investment opportunities, says Justin Bradburn, principal and head of aviation at CarVal Investors. Even when traffic rebounds, airline ticket prices will likely be lower for longer, he […]
The Canada Pension Plan Investment Board saw a 3.1 per cent net return for its fiscal 2020 year, which ended March 31. Rising to $409.6 billion in assets under management, the fund saw $12.1 billion in investment income and $5.5 billion in net contributions. However, the 3.1 per cent return falls short compared to the fund’s 8.9 per […]
With volatility rattling public markets, fundraising for private equity deals took a tumble during the first quarter of 2020, according to a new report by the Callan Institute, which found fund closing dropped 39 per cent since the last quarter of 2019, while commitments were down 37 per cent. Many institutional investors suddenly find themselves over-allocated to […]
The Ontario Municipal Employees Retirement System is closing its previously announced investment in fibre technology company Deutsche Glasfaser Holding. The German company is a provider of gigabit internet connections through fibre-to-the-home to more than 700,000 households and 5,000 businesses across the country. The investment, alongside partner EQT Infrastructure Fund IV, was announced in February 2020. […]
The vast majority (96 per cent) of institutional investors feel they have an important role to play in addressing the world’s most pressing challenges, including climate change, social and economic inequality and the need for infrastructure development, according to a new survey by Natixis Investment Managers. About half (48 per cent) of survey respondents said institutional […]
The Investment Management Corp. of Ontario is committing US$250 million to Apollo Global Management Inc.’s new Accord Fund III series B. The fund is focused on acquiring credits that have traded down due to liquidity-driven selling and non-economic reasons. “This is an example of IMCO adapting to market conditions and exploiting our liquidity very quickly so that clients have […]
Even before the coronavirus began affecting capital markets, fixed income investors were becoming more risk averse, according to Invesco’s latest survey. Close to half (43 per cent) of investors surveyed in late 2019 said they felt the then economic cycle had a year or less left to run and were adapting their portfolios accordingly. In some cases, this change […]
Will real estate help Canadian pension plans weather the coronavirus pandemic or will being a landlord prove to be a liability in an economic crisis? For several years, Canadian pension plans have been broadening the regional scope of their real estate holdings, diversifying portfolios in asset classes and geographic exposures. But with the coronavirus pandemic […]
In 2009, when Vincent Morin walked through the doors of Air Canada as the vice-president of asset allocation and strategy for its investment division, he faced a tough situation. The company’s eight defined benefit pension plans, which buy units of a single master trust fund, were facing a $2.6 billion deficit. In the following years, […]