Pension Pulse

Mark Machin, President & CEO of CPP Investments,  updated Canadians telling them to take comfort, the CPP Fund is built for the long haul: As the head of CPP Investments, the organization that invests the Canada Pension Plan Fund in the best interests of millions of Canadians, I spend a lot of my time thinking about long-term risks that could affect the safety of our investments, risk in relation to opportunity, and the potential risks we can’t foresee that spring up suddenly. The COVID-19 pandemic currently roiling markets worldwide falls squarely in that last category. While the possibility for widespread contagion is ever present, a few short months ago it was still a theoretical risk. No longer. This coronavirus presents a serious challenge to communities and people everywhere and is forcing profound changes in our daily lives. At CPP Investments, we’re taking all precautions to prevent community spread and are encouraging others to do the same. We’ve stopped a...

On Monday, HOOPP announced its 2019 results amidst economic uncertainty, posting strong returns position Plan to weather current market environment: The Healthcare of Ontario Pension Plan (HOOPP) announced today that it posted a return of 17.14% for 2019 (compared to 2.17% in 2018), with net assets reaching $94.1 billion, up from $79.0 billion at the end of 2018. HOOPP closed 2019 with a 10-year annualized rate of return of 11.38% and a 20-year annualized rate of 8.55%. These results help position HOOPP to navigate the current challenging economic environment. “While concerns about COVID-19 have had considerable impact on financial markets and the economy, HOOPP has a track record of weathering market volatility and downturns,” said HOOPP President & CEO Jim Keohane. “As a pension delivery organization, we invest for the long-term, adapt our strategies and maintain a diverse portfolio. This serves us well in continuing to deliver on the pension promise.” Keohane is retiring...

Fred Imbert and Pippa Stevens of CNBC report the Dow tumbles 900 points to end Wall Street’s worst week since 2008: Stocks attempted to rally on Friday, but failed, concluding one of the most volatile weeks on Wall Street ever as investors grapple with mounting fears over the coronavirus’ economic blow. The Dow Jones Industrial Average closed 913.21 points lower, or more than 4%, at 19,173.98 after rallying more than 400 points earlier in the day. The S&P 500 slid 4.4% to 2,304.92. The Nasdaq Composite closed 3.8% lower at 6,879.52 after jumping more than 2%. Sources told CNBC that Ronin Capital , a clearing firm at the CME Group, was unable to meet its capital requirements. The news weighed on stocks in the final two hours of trading because it was yet another sign of the pressure being put on some firms amid the sharp downturn in markets. Among the other factors weighing down the market once again Friday afternoon were a stay-at-home order for New York State, a s...