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Top 10 Biggest Canadian Public Pensions Surpass C$1.3 Trillion in Assets

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The top ten largest Canadian public pensions have surpassed C$ 1.3 trillion (US$ 957 billion) in assets in 2015. The top 10 Canadian public pension assets combined is roughly equivalent to 84.7% of Canada’s gross domestic product (using 2015 GDP estimates). The three largest Canadian public institutional investors are the Caisse de dépôt et placement du Québec (CDPQ), Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan (OTPP). In addition, when combining all the operating subsidiaries like Oxford Properties and Ivanhoe Cambridge controlled by these investors, more than 80% of the assets are managed internally.

Five of these institutional investors rank in the top #30 of largest direct investors of all-time, according to the Sovereign Wealth Fund Transaction Database. The database tracks direct transactions made by sovereign funds, large pensions, endowments and other public funds.

Fund Rankings Database

Canadian Pension Profiles and Allocation Data


Largest Canadian Public Pensions – Billions CAD


1. Total Assets (use first) 2. Net Assets | Latest CY 2015 Figures

All of the top 10 public institutional investors manage an excess of C$ 15 billion in assets under management.

China’s Central Bank Creates Macro-Prudential Management Bureau

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The People’s Bank of China (PBOC) created a new department to oversee and attempt to eliminate financial risks to the system. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Like its U.S. Peers, Legg Mason Seeks to Trim Costs

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Legg Mason Inc., a Baltimore-based asset manager, has announced a reduction in workforce as is prepares to streamline operations and save money. Legg Mason’s leadership commented that assets under management fell 5 % year-on-year. Legg Mason currently manages US$ 727.2 billion (as of December 31, 2018), which is down from the previous US$ 767.2 billion. CEO Joseph A. Sullivan noted that a global operating platform will centralize fund administration, IT, and other departments that work with affiliates. Sullivan did not discuss the number of layoffs expected, or specify which areas would be impacted. Legg Mason disclosed they planned to close a quarter of its exchange-traded funds in March 2019. These three ETFs include a U.S. strategy, emerging markets, and a developed markets strategy outside the U.S. However, these funds run around US$ 28 million in assets under management.

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

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Monetary Authority of Singapore Establishes Corporate Governance Advisory Committee

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On February 12, 2019, the Monetary Authority of Singapore (MAS) revealed the creation of a Corporate Governance Advisory Committee (CGAC). CGAC was formed to advocate for good corporate governance practices among listed companies in Singapore. Bobby Chin, Director of Singapore Telecommunications Limited, will be the Chair of CGAC. According to a MAS press release, “CGAC will identify current and potential risks to the quality of corporate governance in Singapore.”

MAS formed the Corporate Governance Council (Council) in February 2017. The Council was dissolved after it pushed out a publication of its final recommendations on August 6, 2018.

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