Pension Pulse

Andrew Coyne wrote another highly critical article on CPP Investments claiming that 'overstaffed, overpaid and underperforming', the Fund is in need of a sharp course correction:  This time they waited until page 41 to admit it. As with most things at the Canada Pension Plan Investment Board, its annual reports have become increasingly bloated over the years. Once, the organization responsible for investing Canadians’ public pension savings reported on its activities each year in a relatively straightforward fashion. The typical CPPIB annual report in those days was a relatively restrained 15,000 to 20,000 words. That was before 2006, when the CPP’s surplus funds were still invested passively, that is in a way designed to track the broad market indexes. In that year, the fund switched to active management: picking individual stocks, bonds and other assets in an attempt to beat the market. Since then the fund’s annual reports have become, essentially, extended adve...

On Sunday, CDPQ issued a press release stating  Marc-André Blanchard is leaving the organization to serve Canada: CDPQ acknowledges the significant contribution of Marc-André Blanchard, Executive Vice-President and Head of CDPQ Global and Global Head of Sustainability, who announced today his departure to take on the role of Chief of Staff to the Prime Minister of Canada, Mr. Mark Carney. Arriving at CDPQ in 2020, Marc-André Blanchard has profoundly impacted the organization. A former Canadian Ambassador to the United Nations and a recognized leader in the private sector, he has leveraged his expertise to serve CDPQ's international ambitions and sustainable development strategy. Under his leadership, CDPQ Global was established to support its investment teams on the ground through high-level relations with governments and partners worldwide in order to assist Québec companies in their globalization and to position CDPQ as...

Earlier today,CNBC's Morgan L Brennan sat down at the Reagan National Economic Forum with J.P. Morgan CEO Jamie Dimon to discuss tariffs, China, U.S. policy and more. The Reagan Foundation made the entire interview available and I highly recommend you watch it all below. This is by far Dimon's best interview, he didn't hold back one bit discussing everything from the "enemies within," why the USD will not remain the reserve currency, why immigration, education and taxation policies need to be reformed, why the Biden administration wasted billions on the green economy, why China remains a powerhouse no matter what tariffs the US government imposes, why bond vigilantes are back, why pension funds have abdicated their fiduciary duty, blindly following ISS on proxy votes and a lot more . He also discusses private equity and the rise in private credit and why we need better regulations there.  He doesn't hold back one bit, everyone should watch this interview, no B...

Today, University Pension Plan Ontario (UPP) reported a 10.3% return and sustained growth in 2024: Toronto, ON – University Pension Plan Ontario (UPP) today announced a 10.3% annual net rate of return in 2024, growing net assets to $12.8 billion. The Plan remained fully funded at 102% with a surplus, staying well-equipped to pay members’ pensions today and over the long term. These results were published in UPP’s 2024 Annual Report, which outlines the Plan’s performance and progress during its third full operating year.  “UPP was created to protect and grow the pension security of our members, and that responsibility guides every decision we make. This past year marked an important step forward—strengthening the foundation that supports our members through strong investment performance, disciplined risk management, and the continued rollout of dedicated member services. As we build on this momentum, we remain firmly focused on delivering the ...