For many years, Québec has received international acclaim for its approach to retirement management. Québec is also known for its solid expertise in insurance and public and private pension plans. This specialization is highly sought after by many countries and institutional managers seeking a command of the most advanced approaches.
Finance Montréal is working on consolidating Québec’s leadership in retirement management. It wishes to increase the volume of asset management in Québec by developing niche specializations and offering international consultation services. Among the first initiatives put forward, the Retirement work group has established a three-year partnership with the International Economic Forum of the Americas. Until 2015, each edition of this event will have a day dedicated to the study of the socioeconomic aspects of retirement and the expertise found in Québec in this area.
Montréal’s expertise in pensions
Assets under management in pension funds are expected to grow significantly in the years to come. While the bulk of this growth will come from industrialized countries, emerging markets’ pension systems — in need of important reforms — will grow relatively faster and will create demand for expertise in pension funds management. Canada is well positioned to capture part of this growth.
- Two of the 100 biggest institutional investors in the world are based in Montréal
- The Caisse de dépôt et placement du Québec
- PSP Investments
- Some 250 pension funds of different sizes are based in Montréal (CN, Air Canada, Hydro-Québec, etc.)
- Many institutional investors operating in Montréal, including the Caisse de dépôt et placement du Québec, manage the bulk of their assets internally
- Canadian institutional investors are among the most sophisticated in the world; the Caisse de dépôt et placement du Québec is particularly skilled in the management of multiple depositors
Michael Sabia, President and Chief Executive Officer of the Caisse de dépôt et placement du Québec, is the leader of this work group.
“The delicate balance between public and private savings, an ageing population and the low yields prevailing on the market are just some of the challenges that pension plans face today. But like any challenge, they offer in return development opportunities that are ours to seize.” – Michael Sabia, President and CEO, Caisse de dépôt et de placement du Québec