Pension Pulse

Benefits Canada reports world's 500 largest asset managers’ AUM up 12.5% in 2023: The world’s 500 largest asset managers’ assets under management increased by 12.5 per cent to US$128 trillion in 2023, compared to $113.7 trillion at the end of 2022, according to a new report by WTW’s Thinking Ahead Institute. It noted the annual growth rate represents a significant recovery from the major correction seen in 2022, when the total value of AUM dropped by $18 trillion. According to the report, this is the first time passive investment strategies have accounted for more than a third (33.7 per cent) of total AUM. Allocations to core equity (48.3 per cent) and fixed income (29 per cent) remained the dominant asset classes for institutional investors. The report noted the combined total for equities and fixed income marked a slight decrease (0.2 per cent) compared to the previous year as institutional investors have shown a renewed interest in alternatives like private equity ...

Amy Johnson of BTR News reports Mitre Yard BTR acquired by AIMCo and Ridgeback JV: Alberta Investment Management Corporation (AIMCo) and investor, developer and operator Ridgeback Group have acquired the Mitre Yard Build to Rent development in North Kensington from City & Docklands. The Northwest London development comprises 241 apartments alongside over 5,000 sq ft of commercial space and extensive resident amenity. “We are pleased to complete the acquisition of Mitre Yard, adding to our best-in-class UK Build to Rent portfolio. “The last few years have clearly demonstrated the strength of the Build to Rent sector as we have continued to see demand for high quality rental homes increase and we are delighted to be continuing our long-term partnership with AIMCo.” George Bossom, Partner, Ridgeback Group Situated adjacent to the Old Oak Opportunity area and the under-construction Old Oak Common railway station, which will serve both HS2 and Crossrail, Mitre...

Today OMERS issued a press release stating it is celebrating 10 years of investment success in Australia: Sydney, Australia - OMERS, one of Canada’s largest defined benefit pension plans, is celebrating its 10th anniversary of successful investment operations in Australia. Since opening an office in Sydney in 2014, OMERS has grown its investments in the country significantly, with deployments and a committed pipeline totaling more than AUD 10 billion. This includes more than AUD 4 billion deployed and committed by OMERS Infrastructure and more than AUD 5.7 billion of Australian office, residential and industrial real estate assets, including third-party assets, managed by Oxford Properties Group. OMERS also invests in Australian equities and fixed income. “Over the past decade we have built and expanded our portfolio in Australia by investing in a diverse array of high-quality assets across various sectors, including infrastructure, real estate, credit, and private equi...

Sam Meredith of CNBC reports world's largest sovereign wealth fund posts $76 billion in quarterly profit as interest rates fall: Norway’s sovereign wealth fund on Tuesday reported third-quarter profit of 835 billion Norwegian kroner ($76.3 billion), citing a stock market boost from falling interest rates. The so-called Government Pension Fund Global, one of the world’s largest investors, said it had a value of 18.870 trillion kroner at the end of September. The fund’s overall return for the quarter was 4.4%, which was 0.1 percentage points lower than the return of a benchmark index set by Norway’s Finance Ministry. The benchmark index against which the fund measures itself is based on the FTSE Global All Cap index for equities and Bloomberg Barclays indexes for fixed income. Trond Grande, deputy CEO of Norges Bank Investment Management (NBIM), which manages the world’s largest sovereign wealth fund, said recent changes in monetary policy had “a pretty significant impact...

Pia Singh and Alex Harring of CNBC report the Nasdaq rises to hit new all-time high Friday as rest of market languishes: The Nasdaq Composite climbed to an all-time high on Friday, boosted by megacap tech stocks. The tech-heavy index rose 0.56% to 18,518.61, while the S&P 500 inched 0.03% lower to end at 5,808.12. The Dow Jones Industrial Average shed 259.96 points, or 0.61%, to close at 42,114.40. Tech stocks boosted the market ahead of their upcoming earnings. Nvidia added 0.8%, and shares of Meta Platforms , Amazon and Microsoft were also higher. On the quarterly results front, HCA Healthcare lost nearly 9% after reporting hurricane disruptions hit its earnings and full-year guidance, while Colgate-Palmolive shares shed 4% after the company reduced the low end of its sales estimate for the year. The 10-year Treasury yield notably cooled off from its three-month highs after breaking above the 4.25% mark during Wednesday’s session. On Friday, it rose more than three basis p...

Razak Musah Baba of IPE Real Assets reports CPP Investments invests £500m in UK housing venture with Kennedy Wilson: Canada Pension Plan Investment Board (CPP Investments) has committed an initial £500m (€600m) to a newly established UK single-family rental housing investment venture formed in partnership with Kennedy Wilson. The C$647bn (€434bn) Canadian fund will hold a 90% interest in the venture, while Kennedy Wilson will commit £56m to become a 10% shareholder and will target new-build housing stock. The partnership – with an initial target asset value of approximately £1bn including leverage – has been seeded with properties from two developments sourced by Kennedy Wilson. The seed assets comprise units currently under construction by Barratt Redrow in Norwich. Kennedy Wilson, which will manage the venture and earn fees, has a pipeline of investment opportunities valued at over £360m and comprising 1,100 units. The company has the capacity to...