CANADA - The C$120bn (US$118bn) Canada Pension Plan Investment Board (CPPIB) has invested US$200m in US-based wind energy firm Noble Environment Power (Noble).
Mark Wiseman, senior vice-president, private market investments, CPPIB, said: "This is an important investment for the CPPIB as demand for renewable energy - particularly wind generation - is expected to grow rapidly over the next several years."
Over the next four years, the company said it planned to develop 'several thousand' additional megawatts of capacity across the US.
Noble is majority owned by funds affiliated to JPMorgan and its management team includes members of General Electric, Florida Power & Light and Sempra Energy.
In other news, the Ontario Teacher's Pension Plan (OTPP) posted a 4.5% annual rate of return for 2007, raising the total value to C$108.5bn, but leaving a C$12.7bn shortfall in the fund's finances.
The returns beat the OTPP composite benchmark of 2.3% and came despite uncertain and unfavourable economic conditions for the fund.
Jim Leech, President and Chief Executive Officer, OTPP, said: "Diversification has always been a hallmark of our investment program.
"Our real estate, private equity and infrastructure assets led the way with our tactical asset allocation and absolute return strategies in producing a 4.5% total fund return, decisively outperforming the 2.3% composite benchmark."
In terms of individual asset classes, inflation-sensitive investments were the best performers, returning 7% compared to the benchmark of 2.9%.
Assets totalled $39.3bn at the end of the year, compared to $35.4bn as of 31 December 2006.
At the most recent review, the fund's asset allocation stood at 47% equities, 36% inflation sensitive assets and 17% fixed income compared with 1995 when equities comprised 65% of the fund.
Fixed-income ETFs are helping pension schemes tailor their fixed income exposure. Bryon Lake, Head of International ETFs at J.P. Morgan Asset Management, explains how.
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
This week's top stories include an article on climate activists from Extinction Rebellion crashing the PLSA's local authority conference, and an in-depth piece on the Court of Appeal's ruling on the BIC UK Pension Scheme case.