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👏 Letting the big W sink in
In the Spring Economic Update, the federal government moved to make the legislative structure and tax incentive for Employee Ownership Trusts (EOTs) permanent. This is amazing news! At Social Capital Partners, we are grateful that the government has made these changes. Thanks to Prime Minister Mark Carney, François-Philippe Champagne and Ryan Turnbull for understanding the importance of employee ownership. This and more all in one funny-but-factual biweekly read.
Are Canadian pension funds stepping up for Canada at this moment of threat? All signs point to maybe
Large Canadian pension plan OMERS announced earlier this week that it will attempt to increase its investments in Canada by $10B over the next five years. This is a good sign, says SCP CEO Matthew Mendelsohn, but announcements and good intentions will not be enough. The incentive structure for fund managers, and the allocation of resources across asset classes and geographies, will need to change if pension funds are able to deliver on what their contributors and beneficiaries expect of them.
Watch the video: Should pension funds help build Canada’s future? | TVO’s The Rundown
TVO's The Rundown convened a discussion about whether Canadian pension funds should increase domestic investments versus investing internationally. The video segment examines the risks and rewards of using Canadian pension capital for nation-building projects, highlighting that Canadian pension funds managed nearly $2.5 trillion in assets by the end of 2024, but a large portion is invested outside of Canada. Panelists Matthew Mendelsohn and Keith Ambachtsheer discuss whether funds should focus solely on financial returns or also on contributing to Canada's economic growth.