May 2021
03May

How One of Canada’s Largest Pension Funds Is Incorporating ESG in Its Portfolio

As allocators and fund managers alike scramble to incorporate diversity and climate change into their strategies, one of Canada’s largest asset owners has released its latest report on how, exactly, a C$365.5 billion pension fund does it. The Stewardship Report, released Wednesday by Caisse de dépôt et placement du Québec (known colloquially as CPDQ), details the fund’s 2020 efforts toward sustainability and diversity. In the report, CPDQ said it is tying employees’ variable compensation to the achievement of certain climate targets...

May 3, 2021
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April 2021
27Apr

Morneau Shepell releases the results of its Performance Universe of Pension Managers’ Pooled Funds

Morneau Shepell (TSX: MSI) has released the results of its Performance Universe of Pension Managers’ Pooled Funds for the first quarter of 2021. According to the report, in the first quarter of 2021, diversified pooled fund managers posted a median return of 1.8 per cent before management fees. “The stock market continued to rise in the first quarter and the MSCI World Index delivered a 3.5 per cent return. The Canadian Equity S&P/TSX Composite Index posted a return of 8.1 per...

April 27, 2021
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21Apr

Canada. CDPQ Real Estate arm ties staff pay to ESG goals in zero emissions push

Ivanhoe Cambridge, the real estate arm of Canada's second-largest pension fund, has tied employee and executive remuneration to hitting environmental targets as it commits to cut net carbon emissions to zero by 2040, its CEO said on Tuesday. Chief Executive Officer Nathalie Palladitcheff said Ivanhoe, which owns 1,100 properties globally, will add C$6 billion ($4.8 billion) in low carbon investments and, as an interim target, reduce carbon intensity by 35% by 2025. Since January, employee pay at Ivanhoe, including all its...

April 21, 2021
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13Apr

New York pension fund divests $7 million from Canadian oil sands firms

New York’s state pension fund is restricting investment in six Canadian oil sands companies because they have not shown they are prepared for a transition to a low-carbon future, the fund’s Comptroller Thomas DiNapoli said on Monday. The New York State Common Retirement Fund will divest more than $7 million in securities already held in the companies, and not make any further investments in them, DiNapoli said in a statement. Canada’s oil sands hold the world’s third-largest crude reserves and have...

April 13, 2021
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09Apr

The U.K.’s policy on overseas pensions is costing Canadian taxpayers

"This is not a party matter," said Ian Andexser of Nanaimo, B.C., who heads the Canadian Alliance of British Pensioners. "This is a snub to Canada." And across the pond in England, Conservative MP Sir Roger Gale has come to the same conclusion: the government of which he is a member has acted "in very bad faith indeed" toward Canada. The matter angering both individuals is a British government policy that excludes U.K. pensioners who live mostly in Canada and Australia...

April 9, 2021
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07Apr

Canada pension speeds up renewables push with new sustainable energy group

Canada Pension Plan Investment Board (CPPIB) said on Tuesday it will create a new investment group that focuses on sustainable energy, in a bid to boost its portfolio of renewable energy investments. Read also The U.K.’s policy on overseas pensions is costing Canadian taxpayers Pension and infrastructure funds have been investing more in the renewable energy space, given the steady returns such assets generate, amid a push for tackle climate change. The new group, Sustainable Energy Group (SEG), will combine Energy &...

April 7, 2021
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March 2021
30Mar

Canada’s Largest Federal Pension Plan Divests From US Private Prisons

Government pension plans provide a sense of security to millions of workers globally — allowing workers to sleep more soundly knowing they will have money to support themselves and their families. But most pensioners have no idea where their money is actually being invested. Imagine the horror of discovering that your family’s security is actually being attained by separating someone else’s family. This is precisely what just happened in Canada as pensioners discovered their money was being invested in private...

March 30, 2021
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02Mar

Canada. Pensions seek clear strategies, lower costs through in-house management

Canadian pension funds are shifting asset management in-house, new research from CIBC Mellon says, and managers want lower fees and greater transparency on funds managed externally. The survey of 50 pension managers last year found an average of 22% of assets managed in-house; that figure is expected to rise to 28% this year. Almost two-thirds of pensions said bringing asset management in-house allows for a clearer alignment of strategies with long-term objectives. More than half cited advantages such as having a...

March 2, 2021
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February 2021
17Feb

Canadian Pensions Adapt Investment Strategies for Post-COVID-19 World

Canadian pension funds are adapting their investment strategies for a post-COVID-19 world by shifting their investments away from infrastructure to private equity, and by moving more of their asset management in-house, according to a new report from CIBC Mellon. The report was based on a survey completed last year of 50 Canadian pension managers—half of which had more than C$1.2 billion ($950 million) in assets under management (AUM), with the other half having between C$600 million and $1.2 billion assets...

February 17, 2021
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09Feb

Ontario teachers pension fund gains $500 million by cashing in on GameStop stock rebellion

Wall Street's hedge funds are set to lose tens of billions of dollars after a mob of traders on Reddit's WallStreetBets page sent GameStop, AMC Entertainment, and other stocks skyrocketing in recent days. However, some Canadian entities are cashing in on what is being touted as the "biggest short squeeze in 25 years." Ontario Teachers' Pension Plan—the largest shareholder in U.S. mall owner Macerich Co.—reportedly sold its entire holding for nearly $500 million when the stock soared. According to...

February 9, 2021
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