Pension Pulse

Rian Howlett , Karen Friar and Laura Bratton of Yahoo Finance report Dow, S&P 500, Nasdaq climb to cap winning month as strong earnings, easing rates fuel Amazon, tech stocks: US stocks bounced back Friday, with Wall Street notching weekly and monthly wins as investors embraced strong earnings from Amazon ( AMZN ) that eased some doubts about prospects for Big Tech. The Nasdaq Composite ( ^IXIC ) rose 0.6%, while the S&P 500 ( ^GSPC ) gained 0.3%, both restoring solid gains after wavering earlier in the session. The Dow Jones Industrial Average ( ^DJI ), which includes fewer tech stocks, rose 0.1%. All three major averages ended the month with wins, with the Nasdaq gaining more than 4% for a second month in a row. The tech-heavy index scored its seventh consecutive monthly victory, while the S&P 500 and Dow notched their sixth month of wins in a row. All three indexes ended with solid weekly gains, as well. Fresh "Magnificent Seven" earnings reports rekind...

James Bradshaw of the Globe and Mail reports pension fund CEOs renew calls for Ottawa to sell key infrastructure assets: The chief executives of Canada’s major pension funds are reviving a years-long campaign to persuade Ottawa and the provinces to sell key infrastructure such as airports, days before the release of a federal budget geared toward building up Canada’s sovereignty. For years, Canada’s pension funds have lamented what they say is a lack of big-ticket infrastructure opportunities in Canada, as governments at all levels have held on to assets that would draw institutional investors’ interest if put up for auction. The message to finance ministers about how to create the fiscal capacity for new investments in Canada is clear: “Look at your balance sheet and sell assets,” Gordon Fyfe, CEO of British Columbia Investment Management Corp., said at an event in Toronto held by the Economic Club of Canada on Thursday. Mr. Fyfe cited airports, hydroelectric power and ...

Emma Dunkley of the Financial Times reports p rivate equity executives flock to pensions: Private equity professionals are on the lookout for a new home.  Big pension funds are scooping them up as they seek refuge from a downturn in the sector that has restricted the carried interest payments that traditionally made up most of their pay, write Alexandra Heal and Mary McDougall.  Professionals from mid-market buyout groups in particular have been flooding pension plan recruiters with their résumés in a bid to escape the private equity fundraising squeeze.  “We are finding it easier to attract talent — not super easy, but much easier than three or four years ago,” said Ralph Berg, chief investment officer at the Ontario pension fund Omers.  “I suspect a lot of the private equity firms are struggling to hold on to people or maybe they want to manage . . . headcounts too.”  British Columbia Investment Management Corporation, which manages assets for public sector ...

Earlier today, UPP announced it is forming a strategic partnership with WPT Capital Advisors to expand logistics exposure: New partnership marks UPP's first U.S. strategy focused on investing in warehouse and distribution facilities in high-growth industrial markets, targeting long-term value creation for members University Pension Plan (“UPP”) is pleased to announce a strategic partnership with WPT Capital Advisors (“WPT”), a leading U.S. industrial real estate sector specialist. The joint venture will pursue a disciplined investment strategy, aligned with UPP’s long-term risk and return objectives, focused on acquiring and developing warehouse and logistics properties across major U.S. supply-chain and distribution hubs . The financial terms of UPP’s commitment are undisclosed. The partnership reinforces the Plan’s commitment to portfolio stability, providing access to inflation-prot...

John Woodside of Canada's National Observer reports y oung Canadians accuse the Canada Pension Plan of mismanaging climate risks: Travis Olson, Aliya Hirji, Rav Singh, and Chloe Tse, with support from Goldblatt Partners LLP and Ecojustice, are challenging the Canada Pension Plan Investment Board in court. Photo by Joshua Best / Courtesy of Ecojustice Travis Olson, a 22-year-old from Camrose, Alta., is worried that his pension is at risk from climate breakdown and has joined three other young people and two law firms to hold the Canada Pension Plan accountable. In a lawsuit Olson  filed Monday at the Ontario Superior Court of Justice alongside Aliya Hirji, Rav Singh and Chloe Tse, the plaintiffs allege the Canada Pension Plan Investment Board is violating its legal obligations to protect their pensions from climate r...