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Corporate Moves

Canada Pension Plan’s Thematic Investing Head Joins OMERS

Mark Shulgan will help the municipal retirement system manage a growth equities platform.

By Chris Butera

Mark Shulgan



Mark Shulgan, a senior portfolio manager for thematic investing at the C$366.6 billion Canada Pension Plan Investment Board (CPPIB), has joined the Ontario Municipal Employees Retirement System (C$95 billion).

Shulgan, who worked at the fund for since 2009, is Ontario Municipal’s new managing director, he confirmed via LinkedIn. He started his new job Tuesday. The Canada Pension plan provides retirement income for almost all Canadians (Quebec has a similar program for its residents).

At his new job, Shulgan will help the fund manage a growth equities platform. He will report to John Ruffolo, chief executive of Ontario’s venture arm.

“We’re delighted to bring Mark aboard, as we continue our efforts to identify and establish platforms that drive OMERS exposure to new investment themes and platforms,”  John Ruffolo told CIO via email.

Last month, Shulgan was featured on CIO’s NextGen list, which showcases the brightest up-and-comers in the asset owner industry.  He was also on CIO’s 2014 “40 Under 40” list, which NextGen superseded.

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He started the board’s thematic investing group in 2014, where his team invested in public companies exposed to long-horizon structural growth. He was originally part of the relationship investments team.

Prior to the CPPIB, Shulgan was a vice president at Fortress Investment Group and McKenna Gale Capital. He is also a board member of the YMCA of Greater Toronto and is the chair of its investment committee.

“I am proud to join OMERS, and I look forward to working with my OPI colleagues and the wider OMERS enterprise to create value for our nearly 500,000 members,” Shulgan told CIO via email. 

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Home > News > Risk > Australia’s Future Fund Returns 9.3%, Beats Benchmark
Risk

Australia’s Future Fund Returns 9.3%, Beats Benchmark

Fund’s total asset value climbs to $A146 billion.

By Michael Katz

Australia’s Future Fund returned 9.3% for the fiscal year ending June 30, easily beating its benchmark of 6.1%, as the sovereign wealth fund’s total market value increased to $A146 billion ($106 billion) from A$141 billion at the end of the previous quarter, and A$133 billion at the same time last year.

The fund reported three-, five-, and 10-year annualized returns of 7.6%, 10.4%, and 8.7%, respectively, outpacing its benchmark, which had three-, five-, and 10-year annualized returns of 6.0%, 6.3%, and 6.6%, respectively.

“The short-term outlook is for a continuing period of sustained synchronized growth, but over the medium to longer term, a number of risks remain and continue to evolve,” Peter Costello AC, chair of the Future Fund Board of Guardians, said in a release. “Inflationary pressures may soon emerge in the US, and as interest rates around the world begin rising towards more normal levels, we expect to see downward pressure on asset prices.”

The fund said that since its creation in 2006, investment returns have added more than A$85 billion to the original contributions made by the government, which were A$60.5 billion at the time. No contributions have been made to the fund since 2008.

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The asset allocation of the fund as of the end of June was 25.5% in global equities, of which 18.2% was allocated to developed markets, with 7.3% to emerging markets; 15.4% in alternative assets, 15.1% in cash, 14.1% in private equity; 8.9% in debt securities, 8.0% in infrastructure and timberland, 6.7% in Australian equities, and 6.4% in property.

The Medical Research Future Fund returned 4.7% for the fiscal year ending June 30, ahead of its benchmark’s return of 3.0%.

“During the year we made important changes to position ourselves for the decade ahead,” CEO David Neal said in a release. “We are continuing to strengthen our investment, technology and risk capabilities as the assets we manage continue to grow.”

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