Pension Pulse

Brett House, a Canadian professor of economics at Columbia Business School, wrote a comment for the Globe and Mail on how to get Canada’s pension funds to invest more in startups: The recent Canada Investment Summit mobilized $500-billion in new capital, according to the federal government , demonstrating that the world is paying attention to the country, particularly our major infrastructure and resource projects. Canada now needs to put the same spotlight on the financing of its early-stage companies. Canada’s major public pension funds, the Maple Eight, manage $2.6-trillion in assets , but just a fraction of these finance the country’s venture and growth companies, the engines of innovation and high-value job creation . While the Investment Summit saw Canadian pension funds and insurers commit $100-billion in fresh capital to domestic investments, new funding for early-stage tech companies barely registered. The most exciting announcement for this sector, the roughly $1.4-billi...

Sarah Min, Davis Giangiulio, Chloe Taylor,Lee Ying Shan and Ananya Chetia of CNBC report stocks rise Friday after soft jobs data, Nvidia leads Nasdaq to intraday record:  Stocks rose Friday following a surprisingly weak jobs report that raised hopes the Federal Reserve will hold rates steady in October. The Dow Jones Industrial Average added 250 points, or 0.5%, to close at 51,176.46. The S&P 500 gained 0.7%, rising 56.27 to 7,722.72, while the Nasdaq Composite climbed 1.2%, adding 319.27 to 27,190.86, hitting an all-time high earlier in the day before pulling back as Treasury yields reversed course. Despite Friday’s rally, the Dow was down for the week by about 1.3%. The S&P was little changed, off 0.3%, while the Nasdaq was up 0.6% on the week, with Friday marking its third straight advance. Treasury yields initially fell Friday following the September employment report, but later rebounded, pushing U.S. equities off their highs for the session. Tech stocks rallied as r...

The Canadian Press reports  CPP Investments selling Australian toll road assets for $4.5 billion: Canada Pension Plan Investment Board has signed a deal to sell its Australian toll road assets to Transurban for a total of about $4.5 billion. The deal includes CPP Investments' 10.5 per cent stake in WestConnex and its 25 per cent interest in NorthWestern Roads Group, which includes the Westlink M7 and NorthConnex roadways. James Bryce, head of infrastructure at CPP Investments, says the sale allows the investment manager to realize value from mature assets. CPP Investments first invested in Westlink M7 in 2010, followed by investments to develop NorthConnex in 2014. It invested in WestConnex in 2018. The deal will see Transurban increase its interest in NorthWestern Roads Group to 75 per cent and 60.5 per cent for WestConnex. The transaction is subject to closing conditions, including regulatory approvals. Roushni Nair of Investing.com also reports  Transurban to buy ...

Lauren Bailey of Markets Group reports IMCO is restructuring its investment leadership as CIO readies to depart: The Investment Management Corp. of Ontario (IMCO) is moving away from a single chief investment officer model as Rossitsa Stoyanova prepares to leave the role in January 2027. IMCO plans to distribute her responsibilities among three senior investment executives, according to a press release. Rather than appoint a direct successor, the fund will divide responsibilities previously held by the CIO across its total portfolio, private markets and public equities functions. Nick Chamie, currently senior managing director of total portfolio and capital markets and chief strategist, will become executive managing director of total portfolio. Craig Ferguson, senior managing director and head of private equity and global credit, will become executive managing director of private markets, while Angus Botterell, senior managing director and head of public equities, will become...

Today, BCI released its 2025-2026 Stewardship Report:  British Columbia Investment Management Corporation (BCI), one of Canada’s largest institutional investors, today released its 2025-2026 Stewardship Report , demonstrating continued environmental, social, and governance ( ESG ) leadership and measurable progress through engagement , proxy voting , and policy dialogue .   “In a year that tested active owners, BCI advanced our stewardship program with the same conviction and persistence we have held for more than 20 years,” said Jennifer Coulson , BCI’s Senior Managing Director & Global Head, ESG. “Consistency is an advantage, and our approach is driving improvements in our portfolio and creating long-term sustainable value for our clients.”   Last year, BCI directly engaged 181 public and private portfolio companies on material ESG risks and opportunities, reaching thousands more through collaborative initiatives. Of the in-depth engagements, 44% showed pos...