The Investment Management Corp. of Ontario is naming Rossitsa Stoyanova as its next chief investment officer. The announcement comes just weeks before the organization’s current CIO Jean Michel, who announced plans to leave this spring, is scheduled to depart. Stoyanova will officially succeed Michel on Sept. 11, 2021. Stoyanova was previously a managing director and […]
The solvency status of Canada’s defined benefit pension plans dipped for the first time this year in July, according to a new report by Lifeworks Inc. The monthly pension indices report found the average Canadian DB pension plan saw its solvency ratio dip to 108.7, down 0.6 from the previous month. This is the first […]
The Investment Management Corp. of Ontario is acquiring a British power provider that specializes in the use of low-carbon technologies. Green Frog Power Ltd., which builds and operates power stations throughout the U.K., is working toward a long-term goal of bringing hydrogen gas into the country’s existing gas distribution network. The acquisition comes as GFP […]
In an open letter, British Prime Minister Boris Johnson and Chancellor of the Exchequer Rishi Sunak are calling on the U.K.’s institutional investors to follow the lead of Canadian and Australian pension funds by making more long-term, illiquid investments. “Currently global investors, including pension funds from Canada and Australia, are benefitting from the opportunities that U.K. […]
The Ontario Municipal Employees Retirement System is a part owner of a European medical diagnostics supply business. The OMERS has acquired 37.5 per cent of the Germany-based Amedes Group from Antin Infrastructure Partners. The investment is the Ontario-based plan’s fourth infrastructure investment in Germany. The Amedes Group, which specializes in medical testing, operates more than […]
Canadian defined benefit pension plans returned 4.4 per cent in the second quarter of 2021, according to RBC Investor & Treasury Services’ latest all-plan universe. The report found average Canadian DB pension plan returns grew by 0.9 percentage points over the previous quarter, from 3.5 per cent to 4.4 per cent. It also noted the […]
The majority (71 per cent) of institutional investors expect to add digital assets to their investment portfolios within the next five years, according to a new survey by Fidelity Digital Assets. The survey, which polled 1,100 investors, asset managers and financial advisors in Asia, Europe and the U.S., found 52 per cent of respondents said […]
The average funded ratio of the top private sector defined benefit pension plans in the U.S. dipped for the first time since September 2020, according to a new index by actuarial firm Milliman. The index, which tracks the funded ratio of the 100 top-performing U.S. private sector DB plans, saw the average ratio dip to […]
Three of Canada’s largest pension funds are investing in a new fund focused on the global transition to a net-zero economy. The Brookfield Global Transition Fund, founded by Brookfield Asset Management Inc., closed its funding after raising US$7 billion ($8.8 billion) with the help of the Investment Management Corp. of Ontario, the Ontario Teachers’ Pension Plan […]
The University Pension Plan has selected CIBC Mellon to provide asset servicing, investment operations and plan member services, including custody, institutional accounting, performance and analytics, risk, compliance and pension benefit payment services. The jointly sponsored pension plan, which was launched on July 1, currently covers employees at Queen’s University, the University of Guelph and the University of Toronto, with […]