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Pension funds can drive greater returns by participating more directly in value creation

Pension funds manage enormous amounts of capital, but they don鈥檛 create as much value as other players in the financial sector. Entrepreneurs, venture capitalists and private equity funds all play a more direct role in launching projects and creating value.

The Term Structure of Short Selling Costs, Review of Finance

Authors:聽Gregory Weitzner

Canadian pension funds divestment of private equity holdings rebalances portfolios

Canadian pension funds are strategically divesting from their private equity holdings to realign their portfolios. Recognizing the inherent lag in private equity valuations compared to publicly traded assets, the move aims to address potential overvaluations, particularly in the context of rising interest rates.

Public pension plans in Canada and Australia achieve efficiencies through professional asset management at scale

Canada and Australia are both examples of successful pension fund management, said Prof. Sebastien Betermier in a keynote presentation to the Government Employees Pension Fund (GEPF) Thought Leadership Conference in Cape Town, South Africa. While there are differences, both capture similar efficiencies: getting people to save money early, so they benefit from compounding.

Shadow banking is growing 鈥� and it鈥檚 a hidden risk to the stability of the financial system

Shadow banking is playing an increasing role in the financial system. Private equity firms, investment funds and mortgage finance companies all employ alternative lending strategies that are lightly regulated, and Canada鈥檚 Office of the Superintendent of Financial Institutions is concerned about how much exposure Canada鈥檚 banks have to this type of lender, who are collectively known as non-bank financial intermediaries.

Interaction with major crypto-asset platforms could benefit both CBDCs and cryptocurrencies

Cryptocurrencies are an unregulated, ethically dubious financial instrument used by criminal organizations, terrorists and war criminals, writes Andy Holloway in the FP Investor Newsletter. But central bank digital currencies (CBDC) are the right side of regulation.

Profs Beaumont, Schumacher and Weitzner awarded SSHRC Insight Development Grant

Congratulations to Paul Beaumont, David Schumacher and Gregory Weitzner, who were awarded a 2022-2023 SSHRC Insight Development Grant

鈥淐all Me Maybe: Institutional Ownership and Corporate Call Policy鈥�

Liquidity support for mid-sized US banks is a band-aid solution that masks underlying issues

In a five-day period in early March 2023, three mid-sized US banks collapsed: Silicon Valley Bank, Signature Bank, and Silvergate Bank. The United States Federal Reserve stepped in with an emergency lending program to support liquidity and mitigate the risk of contagion. While that will probably work in the short term, it doesn鈥檛 solve the problem, says Mo Chaudhury, an聽Associate Professor of Finance (Teaching) at Desautels.

Recap of DGFRC-sponsored finance workshop

The 10th HEC-捆绑SM社区 Winter Finance Workshop took place from March 26-28, 2023, in Ischgl, Austria, in collaboration with the Faculty of Law, Economics and Finance (FDEF) at the University of Luxembourg.

The future of commercial real estate belongs to those who can meet the evolving needs of the office

Lockdowns and remote work presented unique challenges for the commercial real estate sector. Vast amounts of office space were suddenly empty as people worked from home. But the sector is rebounding. There are projects underway in cities around the world are a testament to investors鈥� confidence in its outlook, says Sebastien Betermier, an Associate Professor of Finance at Desautels.