The Investment Management Corp. of Ontario is reporting that the weighted average net return of its clients’ portfolios was negative 8.1 per cent for the year ended Dec. 31, 2022, which narrowly beat its consolidated benchmark return of negative 8.4 per cent. Over the three years since assets have been managed according to the IMCO’s strategies, the annualized return […]
Institutional investors are steadily integrating environmental, social and governance into their investment reporting and practices, according to a new report by the United Nations’ principles for responsible investment. The report, which analyzed data from more than 1,800 investment organizations that have signed the PRI, found nearly all have formal, senior-level oversight and accountability for responsible […]
A consortium of five New York City defined benefit pension plans has led a successful campaign to launch an external review of labour practices at Starbucks Corp. NYC Retirement Systems, which includes the NYC Board of Education Retirement System, the NYC Fire Pension Fund, the NYC Fire Pension, the NYC Police Pension Fund and the […]
A watchdog organization is criticizing a government fund dedicated to attracting investments in green technologies. “The government seems to be saying this is concessional finance,” says Adam Scott, executive director of Shift Action for Pension Wealth and Planet Health. “The goal [of the Canada Growth Fund] is to put the first money into higher risk investments […]
The 2023 federal budget, which was announced on Tuesday, includes several initiatives related to defined benefit pension plans and the broader institutional investment sector. The government said it would entrust the administration of a new federal investment fund to the Public Sector Pension Investment Board. “By partnering with PSP Investments, the Canada Growth Fund will […]
Over the last year, the number of large Canadian pension funds with commitments to achieving net-zero emissions by 2050 rose from two funds to nine, representing $1.8 trillion — or 81 per cent — of total pension fund assets evaluated, according to a new report by Corporate Knights. The report also found four of the […]
The Public Sector Pension Investment Board is updating its proxy voting guidelines to communicate its views on sound corporate governance practices and climate change. According to the guidelines, boards of directors at the companies in which PSP Investments invests, are expected to ensure climate risks and opportunities are integrated into their strategy and operations. They […]
A resolution to reverse a rule allowing U.S. pension investors to consider environmental, social and governance criteria has been blocked by President Joe Biden. “It would put at risk the retirement savings of people across the country,” the president said after issuing his first-ever veto. Through the office’s veto power, a president may block any […]
The Pension Investment Association of Canada is praising the Canadian Association of Pension Supervisory Authorities for addressing the regulatory inconsistencies facing Canada’s defined contribution pension plan sponsors in its draft strategic plan for 2023-2026. “We commend CAPSA for its achievements in engaging with stakeholders to consider evolving regulatory risks and [capital accumulation plan] guideline development,” […]
The Healthcare of Ontario Pension Plan is reporting an annual return of negative 8.6 per cent for 2022, citing declines in equities and fixed income markets. The HOOPP finished the year with net assets of $103.7 billion and, despite the economic challenges, maintained a funded status of 117 per cent. Its fixed income portfolio generated […]