Latest news with #pensionfund
Bloomberg
4 days ago
- Business
- Bloomberg
Korea Pension Confronts Sell America Vibe With Foreign Bet Boost
South Korea's largest pension fund plans to buy more foreign stocks, just as a 'sell America' trend fueled by the Trump administration's tariff agenda begins to take hold. The National Pension Service, which manages about 1,213 trillion won ($884 billion), set its 2026 overseas stock allocation target at 38.9%, up from 35.9% this year, according to a statement Thursday from the Ministry of Health and Welfare. The higher allocation equates to about $26.5 billion more of the NPS's current pot, according to Bloomberg calculations.
Bloomberg
25-05-2025
- Business
- Bloomberg
Canada's CDPQ to Invest More Than $10 Billion in UK, FT Says
Canadian pension fund Caisse de Depot et Placement du Quebec is looking at investing more than £8 billion ($10.8 billion) in the UK over the coming five years, the Financial Times reported. CDPQ, Canada's second-largest pension fund managing C$473 billion ($344 billion), could raise its allocation to UK assets by 50% in that period, the FT reported Sunday, citing an interview with the fund's Chief Executive Officer Charles Emond.
Yahoo
24-05-2025
- Business
- Yahoo
Lehigh County, Pennsylvania Pension Fund's Board Votes To No Longer Purchase Tesla Stock
This year has been difficult for Tesla (NASDAQ: TSLA), and Lehigh County, Pennsylvania's pension fund, just made it a little bit worse. According to the Lehigh Valley News, the pension board voted 4-2 in favor of a motion to suspend future purchases of Tesla stock. The board also voted to advise its investment manager to create a written plan on how to divest from Tesla entirely. 'I introduced this motion out of concern for CEO Elon Musk's political public profile and its adverse impact on Tesla's brand and Tesla's market performance," County Controller Mark Pinsley reportedly said in a statement,"With Tesla's earnings down 71% year-over-year and auto revenues falling 20%, our $500 million pension board prioritizes fiduciary responsibility. I believe this decision protects our retirees and may serve as a precedent for other institutional investors.' Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Pinsley's statement referenced Musk's role with the Department of Government Efficiency as part of the motivation behind the decision. 'This is the first pension fund to make a public decision in response to Elon Musk's nefarious activities with DOGE,' he said. However, the statement also noted that Tesla profits have "Taken a sharp dive. We owe it to our retirees and taxpayers to take a hard look at whether these are wise investments at this time.' This would not be the first incident of a public pension fund divesting its Tesla interests. In March, Bloomberg reported that Denmark's $20 billion AkademikerPension was dropping its Tesla shares. The fund's CEO, Jens Munch Holst, took direct aim at Musk in his announcement explaining the divestiture decision. Holst said, "In short, it's our view that Elon Musk is in the process of destroying Tesla's brand and value." Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Business Insider reported on Dutch pension fund ABP's decision to divest from Tesla in January. That sell-off saw nearly $600 million worth of Tesla stock hit the market, something which likely contributed to the company's massive stock slide. A blog post by ABP President Harman Van Wijnen took issue with the $50 billion bonus Tesla's board authorized for Musk. "We felt this amount was not in line with our rules for good governance," he wrote. There can be no doubt that Musk's public persona and time with DOGE have made him a lightning rod for criticism, but the intensity of the blowback has been surprising. With that said, not everyone on Lehigh County's pension board supports the decision. Lehigh Valley Commissioner Ron Beitler voiced public frustration with Pinsley's announcement. Beitler told the Lehigh Valley News that Pinsley's announcement was ' A headline grab by a politically motivated controller.' However, he also wrote a Facebook post expressing his commitment to keeping politics out of pension investment decisions. 'It doesn't matter whether a stock is linked to liberal or conservative causes or personalities — I don't care. Our job is to make sound financial decisions. And we've done that. Even through tough markets, Lehigh County investments have delivered steady, reliable returns for our retirees," he said. Read Next:Nancy Pelosi Invested $5 Million In An AI Company Last Year — Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Lehigh County, Pennsylvania Pension Fund's Board Votes To No Longer Purchase Tesla Stock originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
CTV News
23-05-2025
- Business
- CTV News
CPP then and now
Taking Stock In her Need to Know segment, Amanda Lang looks at how the Canada Pension Plan was created and how it works. She then has an in-depth discussion on the current state of our national pension fund with John Graham, President and CEO of the CPP Investment Board.
CBC
21-05-2025
- Business
- CBC
Canada Pension Plan Investments drops net-zero target after initially aiming for 2050
Social Sharing Canada Pension Plan Investments has dropped a net-zero by 2050 target for carbon emissions, according to an annual report released on Wednesday, following several Canadian financial institutions that have backtracked on climate commitments. CPP Investments noted that there have been recent legal developments in Canada that have introduced new considerations around how net-zero commitments are interpreted. Recent changes to Canada's Competition Act require companies to be able to substantiate environmental claims they make. John Graham, chief executive of CPP Investments, said the fund continues to believe in the need to incorporate sustainability in how it manages its portfolio. "We think it is really important to incorporate climate and incorporate sustainability into the portfolio when we take a long-term perspective and as a long-horizon investor," he said. "Recent legal developments in Canada have introduced, kind of, new considerations around how net-zero commitments are interpreted, so that's caused us to change a little bit how we talk about it, but nothing's changed on what we're actually doing." Shift Action for Pension Wealth and Planet Health, an advocacy group, criticized the move in a statement released Wednesday, asking how the pension fund will sustain benefits for future retirees "in a world of climate breakdown." "In backing out of a promise to invest in line with its net-zero by 2050 commitment, [CPP Investment's] management has failed to undertake its most fundamental purpose — to responsibly manage the long-term collective savings of working and retired Canadians," the statement read. Several major Canadian banks, including BMO, TD Bank and CIBC, have also backtracked on climate commitments this year, announcing they were leaving a Net-Zero Banking Alliance backed by the United Nations.
