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OTPP Appoints Former Teacher & Principal Gene Lewis to Advisory Board

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Former-educator Gene Lewis has been appointed by the Ontario Teachers’ Federation (OTF) to serve a two-year term on the 11-member board of the Ontario Teachers’ Pension Plan, the largest single-profession pension plan in Canada with some C$ 180.5 billion (US$ 145.4) in assets as of June 30, 2017. His term on OTPP’s board began on January 1, 2018.

Lewis began his career as an elementary school teacher and principal in Ontario, and served as general secretary of the Elementary Teacher’s Federation of Ontario from 1998 until his retirement in 2013, during which he was an active participant on OTF’s executive and board. In 2002 he was awarded the Queen’s Golden Jubilee medal in recognition for his service to education. Lewis’ involvement over the years with OTPP’s Teachers’ Sustainability Workgroup and the Partners’ Consultative Committee make him uniquely suited to a position on its board.

OTPP’s sponsors – the OTF and the provincial government of Ontario – may each appoint five board members and together select a chair. Each board member may serve up to four consecutive terms.

FIRRMA Bill is a Big Deal for Foreign Asset Owners

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The United States Treasury is analyzing options on further restricting investments into “sensitive” sectors, such as technology and defense, in the United States from Chinese state-owned capital. The U.S. Commerce Department, under the export control regime, banned U.S. companies from selling parts to ZTE Corporation, a Chinese telecommunications manufacturer, for seven years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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AIMCo Posts 10.4% Return in 2017

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The Alberta Investment Management Corporation (AIMCo) posted its performance for the 12-month period trailing December 31, 2017, which saw its overall assets grow by 8.4% – or C$ 8.0 billion (US$ 6.1 billion) – to C$ 103.7 billion (US$ 82.3 billion). This represents returns net-of-fees on its C$ 88.2 billion (US$ 70.3 billion) worth of balanced fund investments in 2017 of 10.4%, against a 9.1% custom benchmark. Established in 2008, AIMCo represents the financial well-being of 32 pension, endowment, government, and specialty funds in the Canadian province of Alberta. This includes the Albert Heritage Fund.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mubadala Real Estate Targets JV Developers, Eyeing Local REIT Launch

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Mubadala Investment Company’s property arm is preparing to launch a local real estate investment trust (REIT) by 2020, and is currently in talks with several developers for international joint ventures on a plot-by-plot basis that are expected to be finalized in 2018, according to Ali Eid Al Mheiri, executive director of Mubadala Real Estate and Infrastructure. Ali Eid Al Mheiri is also Vice Chairman of ALDAR Properties PJSC and Chairman of Abu Dhabi Finance Company PJSC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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