Earlier this week, CDPQ launched the Investi Fund where Montreal's financial center will deploy an investment fund dedicated to ESG and sustainable finance, aiming to raise commitments of $1 billion: On the occasion of the 3rd edition of the Sustainable Finance Summit, Innocap and Finance Montreal announce the creation of investment funds aimed at promoting the emergence and growth of investment strategies incorporating environmental, social, and governance (ESG) criteria and sustainable finance (the "Investi Fund"). The Investi Fund, which has gathered $300 million ..read more

  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 ..read more

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, t ..read more

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 ..read more

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. Du ..read more

Christine Dobby of the Toronto Star reports CPP Investments posts 1.3% return as inflation and high interest rates hit results, as CEO says fund does not plan to divest from fossil fuel investments: It was a “very rare” year in which stocks and bonds both slumped while inflation and interest rates soared around the world, but Canada’s biggest pension fund still eked out a modest return. John Graham, CEO of the Canada Pension Plan Investment Board (CPP Investments), said in an interview Wednesday that the fund’s diversified investing approach helped it weather the financial-market strife, as ..read more

John Stepek of Bloomberg reports be afraid, the UK government wants your pension: The battle for your pension is hotting up. Politicians including Chancellor Jeremy Hunt and his Labour counterpart Rachel Reeves want to funnel more of Britain’s (ie your) pension savings into funding UK companies.  The level of coercion involved varies according to the politician or lobbyist speaking and the audience to whom they are talking. But as both Merryn and Stuart have flagged in separate columns, the government and the City see your savings as their opportunity. Here ..read more

Early Friday, Jamie Chrisholm of MarketWatch reports stocks are rallying, but investors say they’re miserable and that’s a good thing: Futures on Friday suggest the S&P 500 may pop its head through the 4,200 level again, looking to decisively break above the 400-point trading range in which it has twitched for nearly seven months. Easing angst over U.S. regional banks and the government debt-ceiling, combined with calmer conditions in bond markets as traders welcome cooling inflation and a Federal Reserve rate-hike pause, are all underpinning sentiment. We even have a fresh structural pa ..read more

Harriett Agnew and Eric Platt of the Financial Times report Oaktree’s Howard Marks warns of crunch time for private credit: Howard Marks, the co-founder of $172bn investment group Oaktree Capital Management, has warned that the boom in private credit will soon be tested as higher interest rates and slower economic growth heap pressure on corporate America.  The 77-year-old billionaire told the Financial Times that big asset managers had competed aggressively to lend to the largest private equity groups as money poured into their coffers in 2020 and 2021, raising questions over the due d ..read more

Divya Rajagopal of Reuters reports Glencore's bid for Teck spurs call for Canada pensions to up domestic equity stake: Glencore's hostile bid for Teck Resources has galvanized some Canadian institutional investors, who have lobbied the federal government to push the nation's biggest pension funds to lift their exposure to domestic companies, according to a presentation seen by Reuters. The previous unreported proposal is an unusual move, but mirrors the broader nationalistic sentiment at display in Canada since the Swiss miner's unsolicited approach for one of the country's top mining firms ..read more