Pension Pulse

Earlier today, La Caisse released its mid-year results stating it p osted a return of 4.6% over the first six months of the year and 7.7% over five years: Five-year return beats benchmark portfolio and exceeds depositors’ needs Ten-year return of 7.0% also higher than the benchmark portfolio Depositor plans in excellent financial health, reflecting their assets’ good performance La Caisse today presented an update of its results as at June 30, 2025. Over six months, the weighted average return on its depositors’ funds was 4.6%, above its benchmark portfolio’s 4.3%. Over five years, the average annualized return was 7.7%, also outpacing the benchmark portfolio’s 6.6%. Over ten years, the average annualized return was 7.0%, also higher than its benchmark portfolio, which stood at 6.4% . As at June 30,...

Earlier today, Ontario Teachers' Pension Plan released its first half result stating it delivered a positive return: Net assets at $269.6 billion. Six- and 12-month total-fund net returns of 2.1% and 7.1%. Long-term returns of 6.9% over ten years and 9.2% since inception. Fully funded for the 12th straight year and plan sponsors have announced they will file a valuation with the regulatory authorities, with the preliminary surplus classified as a contingency reserve. TORONTO - Ontario Teachers’ Pension Plan Board (Ontario Teachers’) today announced a total-fund six-month net return of 2.1%, or net investment income of $6.0 billion. The one-year total-fund net return was 7.1%. Net assets are $269.6 billion, up $3.3 billion from year-end (all figures are as at June 30, 2025, and in Canadian dollars, unless noted). “The results for the first half of 2025 show the ability of our investment portfolio to generate a positive return while maintaining a cautious position on ri...

The Canadian Press reports  Telus selling 49.9% stake in cell towers to La Caisse for $1.26 billion: Telus Corp. says it’s selling a 49.9 per cent stake in a newly spun-out wireless tower operator to La Caisse for $1.26 billion as it also reported its second quarter income fell from last year. The telecommunications company says the new operator called Terrion will be based in Montreal, and that the partial sale of the assets will go toward deleveraging. The sale comes as Telus reported a net loss of $245 million for the three months ending June 30, compared to earnings of $221 million in the same quarter last year, as it took a $500 million impairment of goodwill related to Telus Digital.  Adjusted net income worked out to $342 million, or 22 cents per diluted share for the period, down from $366 million, or 25 cents per share last year. The mean analyst estimate had been for earnings of 23 cents per share, according to LSEG Data & Analytics. Consolidated opera...

Thomas Seal, Layan Odeh, and Kevin Orland of Bloomberg report a $520 billion retirement system comes under fire in Western Canada: In the span of eight months, the pension manager for Canada’s wealthiest province fired its entire board, shuttered new offices in Singapore and New York and cut more than two dozen jobs. If Premier Danielle Smith has her way, that’s just the start of sweeping changes for the C$180 billion ($131 billion) Alberta Investment Management Corp. — and perhaps Canada’s entire pension system. The populist leader is seeking to overhaul how the oil-rich province handles its retirement savings and wealth, with a focus on slashing costs, curbing DEI initiatives, building up a homegrown fund and possibly reducing its exposure to private equity. The moves stand to upend the widely admired “Canadian model” of pensions operating with independent governance through sophisticated in-house management and partnerships with global firms. Smith is also setting up a ...