The $273 billion New York State Common has upped the pressure on portfolio companies to report on how artificial intelligence usage is contributing to layoffs, as AI governance becomes a growing focus in the proxy voting and engagement activities of asset owners.
Keith Ambachtsheer, director of the Rotman International Centre for Pension Management (Rotman ICPM), believes increased scale expands the capabilities of pension funds, while also enhancing their operations and lowering costs. But their financial strength should not be allowed to compromise their core purpose. He shares his thoughts with Simon Mumme.
The C$43 billion ($38 billion) Ontario Municipal Employees Retirement System (OMERS) has been granted expanded powers by the Ontario government to provide third-party investment and pension administration services, and is at various stages of discussion with a number of plans to provide investment management services.
A 10 per cent increase in internal investment management results in a 4.2 basis points increase in net value added to a pension fund’s bottom line, according to analysis of the CEM Benchmarking database, which has data on more than 380 global pension funds from 1991 to 2007.
Sovereign wealth funds are prioritising a review of their internal risk management frameworks and better communication with their stakeholders regarding expectations of financial markets, according to Patricia Pascuzzo, global head of national funds consulting at Mercer.
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