CANADA - The CAN$121bn (€82bn) Canada Pension Plan Investment Board (CPPIB) has acquired a 40% stake in Scotia Place, Edmonton.
Graeme Eadie, senior vice-president of real-estate investments, CPPIB, said: "As long-term investors, [this] addition to CPPIB's portfolio reflects our desire to acquire high quality real estate assets long-term potential."
The investment represents a continuation of the CPPIB's strategy to own core properties in strong real estate markets.
"We expect the Edmonton market top remain strong and Scotia Place, as a premier asset, will generate food returns," Eadie said.
Globally, the CPPIB has 5.1% of its entire portfolio ($6.2bn) in real estate investments, $3.6m of which are based in Canada.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.