Pension Pulse

  Anthony Pizzino, CEO of the National Association of Federal Retirees, wrote an op-ed for the Globe and Mail on why with Alberta election over, Danielle Smith must formally toss out her provincial pension plan idea: Only 21 per cent of Albertans think the province should withdraw from the Canada Pension Plan and create its own plan – an idea once backed by Premier Danielle Smith, whose United Conservative Party won another majority in Monday’s election. Ms. Smith did not campaign on the promise of an Alberta pension plan, but she did say the idea could be revisited after the election . Now that day has come. At the National Association of Federal Retirees, we say Ms. Smith must formally abandon the notion of an Alberta pension plan and confirm that she sides with the majority of Albertans, who do not support this ill-fated idea. While some may have questioned NDP Leader Rachel Notley’s policies, her commitment to protecting CPP through provincial legislation, preventing a

Today, CDPQ's real estate subsidiary Ivanhoé Cambridge announced 170,000 square meters leases in its Hub & Flow logistics portfolio in France: Paris, France, May 30, 2023 – Ivanhoé Cambridge, a global real estate leader, is proud to announce that it has signed eight leases for assets of its Hub & Flow logistics portfolio in France. These leases cover a total surface area of nearly 170,000 square meters. The Hub & Flow portfolio currently comprises 17 logistics platforms across France with a total surface area of some 510,000 square meters. Originally acquired in February 2020, the portfolio has since been expanded through acquisition of two assets for development in Mer (south of Orléans) and Roye (midway between Paris and Lille), plus a new asset in Fos-sur-mer (near Marseille). It has also been extended in Continental Europe with, among others, the May 2022 acquisition of a 115,000 m² asset in Hamburg, Germany, 100% leased

Carly Wanna and Isabelle Lee of Bloomberg report AI frenzy extends rally, propelling stocks higher: The frenzy surrounding artificial intelligence led another day of gains in the stock market as traders were also growing more confident a deal on the US debt limit will be reached. The S&P 500 rose 1.1% and the tech-heavy Nasdaq 100 added 2.4% as Marvell Technology Inc. said 2024 revenue would “at least double” from a year ago on a surge in demand from AI, echoing sentiments from Nvidia Corp. earlier. Shares of the chipmaker surged 30%. The gains came as US negotiators also appeared to be moving closer to an agreement to raise the US debt limit and cap federal spending for two years. A US default could result in catastrophic damage, putting markets on edge. However, House Speaker Kevin McCarthy said he believed progress had been made last night. “Today we are getting a boost from debt ceiling headlines plus continued AI enthusiasm,” said John Kolovos, chief technical str

Benefits Canada reports BCI investing in financial services provider, building Brisbane apartment complex: The British Columbia Investment Management Corp. is acquiring a minority stake in a corporate consultant and fund administration provider. Zedra, which provides wealth, governance and administrative services for corporations, pensions, trusts and funds, was launched in the Isle of Man in 2016. It now conducts operations in Asia, Australia, Europe, North America and South America. BCI’s investment follows Zedra’s acquisition of a series of financial sector service providers in 2022. During the year, it acquired PTL Governance Ltd., a British pension trustee and governance consultant; Axelia Partners, a global expansion service provider; and BNP Paribas Jersey Trust Corp., a fiduciary service provider. In a press release, the BCI described the move as part of a broader strategy to expand its presence in Europe. “The corporate services, active wealth, pensions and fund