Pension Pulse

Hannah Mia and Tanaya Macheel of CNBC report the Dow tumbles more than 900 points and the Nasdaq drops 4% on Friday to close out a brutal month: U.S. stocks sunk Friday with the Nasdaq Composite notching its worst month since 2008, as Amazon became the latest victim in April’s technology-led sell-off. The tech-heavy Nasdaq Composite fell nearly 4.2% to 12,334.64, weighed down by Amazon’s post-earnings plunge. The S&P 500 retreated by 3.6% to 4,131.93. The Dow Jones Industrial Average shed 939.18 points, or close to 2.8%, to 32,977.21. The Nasdaq finished at a new low for 2022 and the S&P 500 did as well, with the main stock benchmark taking out its previous low in March. Stocks closed out a dismal month as investors contended with a slew of headwinds, from the Federal Reserve’s monetary tightening, rising rates, persistent inflation, Covid case spikes in China and the ongoing war in Ukraine. “The markets are trying to wrap around a lot of different cross-currents,”...

Last week, OMERS announced it successfully completed its first sustainable bond offering: Earlier this week, OMERS Finance Trust (OFT) announced that it has successfully closed its first offering under a recently established Sustainable Bond Framework. Opens new window The inaugural dual tranche sustainable bond offering comprised USD 600 million of 10-year notes and USD 500 million of 30-year notes, securing strong international investor interest and a two times oversubscription. “The establishment of the Framework and issuance of our first sustainable bonds is another example of our commitment to sustainable investing and demonstrates conviction in our ability to profitably deploy capital into assets with strong green and social attributes,” said OMERS Chief Financial and Strategy Officer Jonathan Simmons. “The appeal of sustainable bonds to the investment community enabled us to tap into global capital markets at attractive rates to enhance returns for our members.” T...

Benefits Canada reports that CPP Investments is financing Gordon Brothers, a global restructuring, investment advisor: The Canada Pension Plan Investment Board is providing $300 million in credit to a global restructuring and investment advisory firm. The financing of  Gordon Brothers, a Boston company that provides capital to businesses, will be delivered through the CPPIB’s  subsidiary, CPPIB Credit Investments Inc .  The funds  will be used to fund capital investment offerings. In 2021, these offerings generated more than $700 million for the company.  “This new relationship with Gordon Brothers broadens our access to the asset-based lending space as we continue to build a diversified portfolio of credit assets,” said Andrew Edgell, the CPPIB’s global head of credit investments, in a press release. CPP Investments issued this press release last week on this deal: Gordon Brothers, the global advisory, restructuring and investment firm, has r...