CPP Bags Luxury Retailer Neiman Marcus
Canadians won't be able to shop at local outlets of Neiman Marcus or Bergdorf Goodman any time soon, but they can soon claim a piece of the storied luxury retailer through our national Canada Pension Plan.
... But other market observers say the luxury market in the United States is a natural draw for private investors seeking returns in a low interest-rate environment. "It's an opportunity to go after a growing luxury market in the resurging U.S. economy" that is being seized upon by the Canadian firms and funds, says Karl Moore, an associate professor at the Desautels Faculty of Management at McGill University.
Read full article: Ottawa Citizen, September 10, 2013