June 2021
18Jun

Canada. The Public Sector Pension Investment Board Gains 18.4% in FY2021

The Public Sector Pension Investment Board (PSP Investments) on Wednesday reported that it gained 18.4% in its most recent fiscal year ending in March, thanks to the recovery in the capital markets after the downturn last year. The Canadian allocator, based in Ottawa, grew to C$204.5 billion (US$166.6 billion) in net assets under management, up 20.4% from C$169.8 billion from the prior fiscal year, the fund disclosed. This past fiscal year wasn’t an easy one, the fund’s top official reflected. “Our...

June 18, 2021
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18Jun

UK. Why investment pathways matter more than you think

The FCA launched its Retirement Outcomes Review in 2016 to check how the market was developing after the introduction of pension freedoms and address any signs of consumer harm. It found many who chose to draw down pension savings without taking regulated advice were losing out on retirement income because their pension pots were invested in cash, even though they didn’t intend to spend it in the short term. Two consultations were issued as a result of the review. First, CP18/17,...

June 18, 2021
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16Jun

​Pension investors press companies over Myanmar human rights risks

Swedish pension fund AP7, the Dutch architects’ pension fund, Velliv and other European pension funds have signed a joint declaration urging companies with business in Myanmar to take action, given the risk of human rights violations under the military dictatorship. Led by Norwegian asset manager Storebrand and three other organisations, the declaration called on firms to map their activities in Myanmar in this regard, and use their leverage in support of human rights – among other things. Kamil Zabielski, head of...

June 16, 2021
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16Jun

US. Maine forces pension funds to dump fossil fuels

Last week, Maine passed bill LD99; an act to require the state to divest itself of assets invested in the fossil fuel industry. Needing 17 votes to pass, it succeeded with 18 in favour while 15 voted against the bill and two were excused. Under the law, the Maine Public Employees Retirement System "may not invest the assets of any state pension or annuity fund in any stocks or other securities of any corporation or company within the fossil fuel...

June 16, 2021
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14Jun

Impact investing grows to address problems raised by pandemic

Sometimes a crisis can help bring positive change. For impact investing, the COVID-19 pandemic and the inequities it exposed are boosting its outlook. Read also ​Pension investors press companies over Myanmar human rights risks Impact investments are made with the intention of generating positive and measurable social, economic and environmental outcomes as well as a financial return. Asset owners and managers put them under various asset and strategy buckets, including ESG or sustainable investing — and note that the one shorthand...

June 14, 2021
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11Jun

US. Public pensions lose on hedge funds — again

By Brett Arends One of these days I’m going to write about a bunch of retirees and future retirees who have just made a ton of extra money thanks to the financial brilliance of elite, exclusive, high-fee hedge funds. Today, however, is not that day. Instead, here comes more news about a public pension fund allegedly missing out on billions of dollars because of hedge funds and other high-fee funds. And the news that retirement systems and other institutional investors continue to pour...

June 11, 2021
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08Jun

UK pension funds sign up to Net Zero Asset Owner Commitment

UK pension funds are amongst the new signatories to the Paris-Aligned Investment Initiative's Net-Zero Asset Owner Commitment. Read also GE to freeze U.K. pension plans outh Yorkshire Pension Fund, Wiltshire Pension Fund and TPT Retirement Solutions join Europe's largest pension fund, ABP, the Church of Sweden and National Trust in signing up to the commitment. Read also UK. A third of DB schemes now have professional trustees The Paris-Aligned Investment Initiative is a collaborative investor-led international forum that enables signatories to align their...

June 8, 2021
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08Jun

New Zealand Pension Fund Allocates 5% to Bitcoin

Fernando Alberca | bottom KiwiSaver Growth Strategy, which manages $350 million retirement plans, has allocated 5% of its portfolio to bitcoin, as reported by New Zealand’s Stuff News Agency. The pension fund started investing in crypto assets in October 2020, so This first purchase has already increased to 600% in just six months. In the opinion of James Gregor, chief investment officer at New Zealand Funds Management, operator of the KiwiSaver Growth Strategy Fund, “If investing in gold sounds right...

June 8, 2021
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07Jun

France Says Controversial Pension Reform Is Key to Woo Investors

President Emmanuel Macron’s government isn’t abandoning its controversial plan to reform the French pension system, hammering home the argument that it’s key to attracting foreign investors. “We’ll keep working on the pension reform,” France’s Delegate Minister for Foreign Trade Franck Riester told Bloomberg News. “It shows we are committed to keep improving the business environment in France.” Read also French Senate passes social security draft budget, revives pensions polemic Macron came to power in 2017 with a pledge to boost growth and...

June 7, 2021
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07Jun

Canada. Ontario’s newest university pension plan has a chance to get divestment right

On July 1, the University Pension Plan (UPP) will take responsibility for the pensions of faculty and staff at three of Ontario’s biggest universities: Guelph, Queen’s and Toronto. The UPP launch comes fast on the heels of the International Energy Agency’s (IEA) recent bombshell report that makes a powerful case for decarbonizing the global energy system. The usually conservative and historically pro-fossil fuel body released its new Net‐Zero Emissions by 2050 Scenario that charts a pathway to limit global...

June 7, 2021
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