The Ontario Municipal Employees Retirement System posted a 0.4% loss for the first six months of 2022 as a decline in public stocks exceeded the pension fund’s private equity gains.
Pedestrians in downtown Toronto, Ontario, Canada, on Friday, June 17, 2022. In his eight years as chief executive officer of CIBC, Victor Dodig has turned the lender into one of the country's fastest-growing banks. His next task is convincing investors the change will stick. Photographer: Christopher Katsarov Luna/Bloomberg , Bloomberg
“The geopolitical environment was incredibly, not only unpredictable, but tragic in so many ways,” Omers Chief Executive Officer Blake Hutcheson said in an interview Thursday. “We have inflation that’s today higher than it’s been in 40 years. Central banks are raising rates quicker than they have since any time since 1994.”
Omers is a net-seller so far this year as the firm realized investments in private equity, infrastructure and real estate -- including selling its interests in GNL Quintero SA, a liquid natural gas terminal in Chile, and in Sony Center in Berlin. The Toronto-based pension plan has also agreed to sell its interest in the holding company that controls Michigan-based Midland Cogeneration Venture.
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