/desautels/taxonomy/term/3551/all en /desautels/channels/news/canadian-pension-funds-are-already-overweight-canadian-equities-360457 <p>Canada’s eight largest pension funds are big players in the world of institutional investing with more than $1 trillion under management collectively. Pressure is being applied for the funds to invest a greater proportion of their money in Canadian stocks. Yet, 18 per cent of their portfolio is already invested in domestic markets, explains Associate Professor <a href="/desautels/sebastien-betermier"><strong>Sebastien Betermier </strong></a>in an interview with Les Affaires.</p> Tue, 15 Oct 2024 20:09:37 +0000 arsh.prakash@mcgill.ca 1474203 at /desautels /desautels/channels/news/changes-pension-funds-portfolio-management-produce-different-demands-analysts-and-managers-360451 <p>Historically, pension funds managed their portfolios using a strategic asset allocation approach. Fundamentally, this meant buying a mix of asset classes with the highest probability of achieving the necessary returns, at a level of risk that was acceptable – or buying and holding. But since the mid-2000s, some large pension funds have adopted a total portfolio approach strategy, which seeks to maximize returns while keeping a portfolio’s volatility low.</p> Tue, 15 Oct 2024 19:55:06 +0000 arsh.prakash@mcgill.ca 1474110 at /desautels /desautels/channels/news/lack-strategic-assets-can-be-deterrent-domestic-investment-large-pension-funds-358906 <p>In 2023, the Government of Australia suggested that some of the country’s pension assets might be used to fund social housing or renewable energy. The idea received mixed reception, and to understand why, Lachlan Maddock of Investor Strategy News looked to Canada, where a group of business leaders called for pension funds to increase their holdings of Canadian equities. Maddock quoted research published by ���ϲ����� Desautels’ Associate Professor of Finance <a href="/desautels/sebastien-betermier"><strong>Sebastien Betermier</strong></a>.</p> Tue, 27 Aug 2024 22:20:22 +0000 arsh.prakash@mcgill.ca 1236624 at /desautels /desautels/channels/news/alberta-politician-who-spreading-conspiracy-theories-could-become-premier-341993 <p>Danielle Smith is running for the leadership of Alberta’s United Conservative Party, and could become Alberta’s next premier. But Smith is campaigning on a platform that includes internet conspiracy theories. In a newsletter, she cautioned that Canada’s currency could be replaced with an international common digital currency, and the federal government could use it to “punish and reward” Canadians. But that’s not very likely, according to Mo Chaudhury, an Assistant Professor of Finance at Desautels.</p> Fri, 16 Sep 2022 18:22:48 +0000 angela.l.williams@mcgill.ca 87694 at /desautels /desautels/channels/news/faculty-achievements-patrick-augustin-associate-professor-finance-appointed-associate-editor-357926 <p><img alt="Patrick Augustin" src="/desautels/files/desautels/styles/medium_focal__220_x_220_/public/patrick-augustin-2.jpg?itok=Cef6vaQY" style="width:220px; height:220px; float:left" title="Patrick Augustin" /></p> <p>Congratulations to <strong><a href="/desautels/patrick-augustin">Patrick Augustin</a></strong>, Associate Professor of Finance, for his appointment as Associate Editor of the <i>Management Science.</i></p> Wed, 10 Jul 2024 19:13:34 +0000 john.sawaya@mcgill.ca 1194518 at /desautels /desautels/channels/news/reproducibility-management-science-355997 <p><strong>Authors: </strong>Miloš Fišar, Ben Greiner, Christoph Huber, Elena Katok,<br /> Ali I. Ozkes, and the Management Science Reproducibility Collaboration*</p> <p><b>*Co-authors included among the Collaboration are four members of the Desautels community:<br /> <a href="/desautels/ruslan-goyenko">Ruslan Goyenko</a></b>,<b> <a href="/desautels/brian-rubineau">Brian Rubineau</a></b>,<b> <a href="/desautels/chengyu-zhang">Chengyu Zhang</a> </b>and Yaping Zheng (now at U. of Alberta)</p> Mon, 11 Mar 2024 14:33:29 +0000 john.sawaya@mcgill.ca 1035202 at /desautels /desautels/channels/news/term-structure-short-selling-costs-review-finance-353515 <p><img alt="Gregory Weitzner" src="/desautels/files/desautels/styles/medium_focal__220_x_220_/public/weitzner-gregory-211013-150834-8913.jpg?itok=eiEyxdvp" style="width:220px; height:220px; margin:8px; float:left" title="Gregory Weitzner" /></p> <p><strong>Authors: <a href="/desautels/gregory-weitzner">Gregory Weitzner </a></strong></p> <p><strong>Publication:</strong> <i>Review of Finance</i><br /> Volume 27, Issue 6, November 2023, Pages 2125–2161.</p> Wed, 13 Dec 2023 13:07:56 +0000 john.sawaya@mcgill.ca 609280 at /desautels /desautels/channels/news/sebastien-betermier-and-david-schumacher-winners-best-paper-using-eurofidai-daily-data-award-354562 <p><a href="/desautels/sebastien-betermier"><strong>Sebastien Betermier</strong></a> and <a href="/desautels/david-schumacher"><strong>David Schumacher</strong></a> (both Associate Professors in Finance) along with their co-author Ali Shahrad (Assistant Professor, University of Saskatchewan) have won the “Best Paper Using EUROFIDAI Daily Data Award” in 2023 for their research paper titled “Mutual Fund Proliferation and Entry Deterrence”, published in the journal <i>Review of Asset Pricing Studies</i>.</p> Mon, 22 Jan 2024 20:17:35 +0000 john.sawaya@mcgill.ca 825442 at /desautels /desautels/channels/news/thomas-j-rivera-assistant-professor-finance-winner-pbcsf-award-best-paper-fintech-354563 <p><img alt="Thomas J Rivera" src="/desautels/files/desautels/styles/medium_focal__220_x_220_/public/wp1_0.jpg?itok=tJgTheTP" style="width:220px; height:220px; margin-left:15px; margin-right:15px; float:left" title="Thomas J Rivera" /></p> Mon, 22 Jan 2024 20:24:52 +0000 john.sawaya@mcgill.ca 825443 at /desautels /desautels/channels/news/learning-biodiversity-diversity-financial-ecosystems-important-economic-growth-and-stability-355344 <p><img alt="Vihang R Errunza" src="/desautels/files/desautels/styles/medium_focal__220_x_220_/public/vihang-errunza-400.jpg?itok=pdMWkTK6" style="width:220px; height:220px; float:left; margin:8px" title="Vihang R Errunza" /></p> <p><strong>Authors:</strong>: <a href="/desautels/vihang-r-errunza"><b>Vihang R. Errunza</b></a>, Basma Majerbi and Maxwell Tuuli</p> <p><strong>Publication:</strong> <i>IMF Economic Review, </i>Forthcoming</p> Fri, 09 Feb 2024 19:18:03 +0000 john.sawaya@mcgill.ca 913026 at /desautels /desautels/channels/news/pension-funds-can-drive-greater-returns-participating-more-directly-value-creation-354146 <p>Pension funds manage enormous amounts of capital, but they don’t 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. But some Canadian pension funds have taken control of the value-creation process with investments in real estate, natural resources, infrastructure, and private credit, writes <a href="/desautels/sebastien-betermier"><strong>Associate Professor Sebastien Betermier</strong></a> in Wealth Professional.</p> Wed, 10 Jan 2024 20:51:57 +0000 arsh.prakash@mcgill.ca 759749 at /desautels /desautels/channels/news/ava-labs-and-cber-forum-launch-new-blockchain-and-crypto-podcast-series-353160 <p>Ava Labs, a software provider for the Avalanche blockchain network, has launched a new podcast series under its Owl Explains initiative. “Crafting the Crypto Economy” spotlights top researchers from leading academic institutions and features ���ϲ����� Desautels <strong>Assistant Professor of Finance <a href="/desautels/thomas-j-rivera">Thomas J. Rivera </a></strong>as part of the opening lineup.</p> Wed, 29 Nov 2023 14:14:15 +0000 arsh.prakash@mcgill.ca 558005 at /desautels /desautels/channels/news/canadian-pension-funds-divestment-private-equity-holdings-rebalances-portfolios-352863 <p>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.</p> Tue, 21 Nov 2023 20:24:33 +0000 arsh.prakash@mcgill.ca 550947 at /desautels /desautels/channels/news/public-pension-plans-canada-and-australia-achieve-efficiencies-through-professional-asset-management-352813 <p>Canada and Australia are both examples of successful pension fund management, said <a href="/desautels/sebastien-betermier"><strong>Prof. Sebastien Betermie</strong></a>r 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. The assets in these funds are professionally managed, which provides multiple advantages.</p> Mon, 20 Nov 2023 17:01:09 +0000 arsh.prakash@mcgill.ca 549341 at /desautels /desautels/channels/news/shadow-banking-growing-and-its-hidden-risk-stability-financial-system-348650 <p>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’s Office of the Superintendent of Financial Institutions is concerned about how much exposure Canada’s banks have to this type of lender, who are collectively known as non-bank financial intermediaries. Their lending is sometimes backed by derivatives, and if their value falls, the loan collateral could be jeopardized.</p> Wed, 07 Jun 2023 17:51:11 +0000 arsh.prakash@mcgill.ca 104189 at /desautels