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Blake Hutcheson Archives | Chief Investment Officer
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OMERS Reports First Annual Loss Since Financial Crisis | Chief Investment Officer
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Paula Sambo and Sandrine Rastello, Bloomberg News Workers wear protective masks inside an Arc teryx Equipment Inc. store at the Metropolis at Metrotown mall in Burnaby, British Columbia, Canada, on Friday, Nov. 20, 2020. Canada is struggling to contain rising Covid-19 infection rates as a second wave engulfs the nation, threatening to stifle an economic rebound that began in summer. Photographer: Jimmy Jeong/Bloomberg , Bloomberg
Exposure to malls, office buildings and other sectors hit by the pandemic weighed on the performance of Caisse de Depot et Placement du Quebec last year, which returned 7.7 per cent thanks to investments in private credit and equity.
OMERS has worst loss since 2008 on bad COVID bets
Paula Sambo, Bloomberg News Have to continue to protect that nest egg : AIMCo chair on Canadian pension model and the economy VIDEO SIGN OUT
Ontario Municipal Employees Retirement System, one of Canadaâs largest pension funds, posted its worst result since the global financial crisis after suffering big losses in its private equity and real estate holdings.
The pension fund, known as OMERS, lost 2.7 per cent on its investments last year, pushing assets to $105 billion (US$84 billion). Itâs the worst result since 2008, when it lost 15.3 per cent.
âWe have been hit very hard by COVID and weâre not making excuses, but the fact is most of our difficulties this year were directly related to COVID,â Blake Hutcheson, who became chief executive officer on June 1, said in an interview.
OMERS records worst loss since 2008 on bad COVID-19 bets
Bloomberg
Getty Images via Bloomberg
OMERS CEO Blake Hutcheson said the fund s 2.7% loss was directly related to the coronvirus pandemic.
Ontario Municipal Employees Retirement System, Toronto, one of Canada s largest pension funds, posted its worst result since the global financial crisis after suffering big losses in its private equity and real estate holdings.
The pension fund, known as OMERS, lost 2.7% on its investments last year, pushing assets to C$105 billion ($84 billion). It s the worst result since 2008, when it lost 15.3%. We have been hit very hard by COVID and we re not making excuses, but the fact is most of our difficulties this year were directly related to COVID, Blake Hutcheson, who became chief executive officer on June 1, said in an interview.
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