In the first half of 2019, the Caisse de dépôt et placement du Québec has earned an average return on depositors’ funds of 6.1 per cent, generating more than $18 billion in net investment results. “From a market perspective, we are living in roller coaster times,” said Michael Sabia, the fund’s president and chief investment […]
The British Columbia Investment Management Corp. posted a combined net return of 6.1 per cent for its fiscal year, which ended March 31, 2019. Adding $2 billion in value, the organization increased its assets under management to $153.4 billion and beat its combined market benchmark, which returned 4.5 per cent. Private assets drove the outperformance, with income generation and […]
The Nova Scotia Public Service Superannuation Plan posted a 5.33 per cent return for the 2018/19 fiscal year, with $335 million in total investment income, according to its annual report. Net of investment management fees, the plan’s rate of return was 5.13 per cent. Measured both ways, the returns slightly underperformed the plan’s benchmark rate of […]
Canadian pension funds are welcoming proposed regulations from the U.S. Department of the Treasury that clarify the sweeping exemption from U.S. tax on real estate available to qualified foreign pension funds. “The previous regulatory framework reduced our demand for real estate in the U.S. and, as importantly, increased the cost and complexity of our structuring,” says […]
The Canada Pension Plan Investment Board is selling its student accommodation business Liberty Living to London Stock Exchange-listed Unite Group for about $1.3 billion. The CPPIB will keep a 20 per cent stake in the newly combined company and one seat on its board. When the deal is complete, Unite Students’ assets will total more […]
The Ontario Teachers’ Pension Plan has released its first climate change report. Written following the recommendations of the Financial Stability Board’s task force on climate-related financial disclosure, the report outlined the plan’s governance approach and strategy with regard to climate change. “Climate change is one of the biggest and most daunting challenges facing the world.” […]
Oxford Properties Group, the global real estate arm of the Ontario Municipal Employees’ Retirement System, released its initial designs for the planned Union Park development in downtown Toronto. The four acre site, located just north of the city’s CN Tower, is set to become a 4.3 million square foot mixed-use space. The project, once completed, […]
The Ontario Teachers’ Pension Plan has terminated an agreement to sell its 10 per cent stake in Hudson’s Bay Co. to a private entity controlled by the retailer’s executive chairman, Richard Baker. The announcement, by one of Baker’s private companies, came after HBC’s publicly traded shares rose above what Teachers’ was to get under the […]
Sun Life Financial Inc. is consolidating several elements of its asset management business. The firm’s fixed income institutional asset management businesses — Prime Advisors Inc., Ryan Labs Asset Management Inc. and Sun Life Institutional Investments Inc. — will be combined with its general account to form SLC Management, a new autonomous asset management business. SLC […]
A real estate partnership co-owned by the Public Sector Pension Investment Board has broken ground on a $1.1-billion private student residence in London, England. The Cherry Park partnership, formed in March by the PSP, European real estate company Unibail-Rodamco-Westfield and Vancouver-based QuadReal Property Group, a subsidiary of the British Columbia Investment Management Corp., is expected to […]