Can one fund prove the value of TPA?
A 22-year analysis of the New Zealand Superannuation Fund (NZ Super), which invests government contributions to help finance the country’s future retirement costs, offers rare evidence that an institutional fund can consistently add value over a simple reference portfolio.
Based on 275 months of data, NZ Super outperformed its benchmark by 1.22 per cent annually, with only a 0.6 per cent probability that the result was due to luck.
AI for retirement planning: a helpful guide, not a trusted advisor
As more Canadians turn to artificial intelligence for retirement planning, experts urge caution. According to Sebastien Betermier, Associate Professor of Finance at McGill University, AI can be a valuable educational tool, helping users better understand complex concepts such as the Quebec Pension Plan (QPP), RRSPs, and TFSAs.
Airport concessions open new paths for pension investment
Canada’s proposed airport concessions could give pension funds access to established infrastructure while allowing governments to recycle capital into new projects. Sebastien Betermier, Professor at McGill Desautels, says major airports offer established cash flows and limited development risk, but their attractiveness will depend on transparent bidding, regulatory certainty and clearly defined decision rights.
Rethinking how TPA is evaluated
The Total Portfolio Approach (TPA) is reshaping how large institutional investors manage their portfolios, giving investment teams greater flexibility to manage risk and opportunities across entire portfolios rather than within individual asset classes. But can its benefits actually be measured?
Governance rights shape defence investment decisions
As governments seek private capital for defence projects, pension funds are looking for structures that protect their fiduciary responsibilities and provide meaningful governance rights.
Assessing defence investments through a fiduciary lens
Pension funds are examining how defence-related investments can be structured without compromising fiduciary duty. Sebastien Betermier, Professor at McGill Desautels says the key is aligning government objectives with investors’ financial, ethical and regulatory obligations.
Pension plans take a cautious approach to AI
Pension plan sponsors are adopting artificial intelligence cautiously as they balance efficiency gains with trust, governance and fiduciary duty. Sebastien Betermier, finance professor at McGill University, says AI is gaining traction in automated note-taking, member support and routine administration. However, unreliable information from AI tools and social media can create confusion and damage credibility.
What pension fund interest in Canada's airports could mean for travellers
Sebastien Betermier, Associate Professor at McGill and Director of the International Centre for Pension Management, spoke with Radio-Canada's economic correspondent about the federal government's plan to open Canadian airports to large institutional investors.
Delegations from across Canada arrive at the Canadian Investment Summit to begin developing relationships with foreign investors
This week's Canadian Investment Summit brings foreign investors, but also Canadian groups interested in partnerships. New Brunswick Premier Susan Holt and Natural Resources Minister John Herron will attend the summit alongside several companies interested in finding partners to refurbish the Mactaquac Dam, among other projects.
Foreign investors expect a seat at the table, raising questions of Canadian sovereignty leading up to the Canada Investment Summit
Prime Minister Mark Carney has invited investors from nations such as the United States, Saudi Arabia, United Arab Emirates and China to this month's Canada Investment Summit.
Prof. Sebastien Betermier weighs in on Canada's $1-trillion investment push ahead of Carney summit
As Ottawa prepares to host its first-ever Canada Investment Summit this month, questions remain about whether the federal government can deliver on Prime Minister Mark Carney's pledge to catalyze $1 trillion in investment over five years.
Retirement income remains a blind spot for DC plans
Defined contribution pension plans face a growing challenge as more Canadians retire without a clear strategy for converting savings into income.
Sebastien Betermier, executive director of the International Centre for Pension Management, says many plan sponsors stepped away from retirement-income responsibility when shifting from defined benefit plans.
Rwanda expands retirement savings for informal workers
Rwanda’s Ejo Heza savings program is expanding retirement coverage among informal workers, who represent more than 80 per cent of the country’s workforce.
Sebastien Betermier, associate professor of finance at McGill Desautels, says the program’s flexible contributions address the income volatility and employment uncertainty these workers face.
La Caisse stays diversified amid AI-fuelled market gains
Despite strong stock market gains driven by artificial intelligence, La Caisse is maintaining a diversified investment strategy to protect the long-term retirement savings of millions of Quebecers.
Sebastien Betermier, associate professor of finance at McGill Desautels, explains that its portfolio combines public equities with infrastructure, real estate and private assets to withstand changing market cycles.
Trade missions help pension funds navigate new markets
Canadian institutional investors are joining federal trade missions to Saudi Arabia and Australia to explore long-term opportunities in sectors such as energy, infrastructure and artificial intelligence.
