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Academic Final Report

Green Urban Development: The Impact Investment Strategy of Canadian Pension Funds

Large Canadian pension funds are known to invest heavily in real assets, which include real estate, infrastructure and land. In this paper, we take the analysis down to the asset level and study how these funds create value and manage risks in the private real estate market.

Research Report

FINANCIAL INNOVATION SERIES – Machine Learning: Unsupervised Learning in Finance

The last decade has witnessed a large-scale adoption of machine learning tools in finance. According to the latest report  by Refinitiv, the number of data science teams in financial services firms have risen by more than 260 per cent since 2018 (see Refinitiv 2020).

White Paper

COVID-19 Triggers Great Nonfinancial Risk Crisis: Nonfinancial risk management best practices in Canada

COVID-19 Triggers Great Nonfinancial Risk Crisis: Nonfinancial risk management best practices in Canada Lois Tullo, Executive in Residence, Global Risk Institute Download the full Report - PDF Version INTRODUCTION The spread of viral disease COVID-19 is the most transformative nonfinancial risk (NFR) of this decade.  The uniting of strategy and risk management has never been... View Article

White Paper

A Frame of Reference: Geopolitical Risks to Canadian Financial Services

In this paper, we assess the disruptive transition in geopolitics, from a multilateralist and interconnected world to an emerging paradigm of “Splintered Integration.” In this emerging paradigm, state competition overlays and even pushes back against globalization. Economic interconnectivity remains deep but uneven, with greater restrictions in some domains than in others.

Research Report

A Comparison of Pension Fund Regulation in Canada and the Netherlands

This study compares two pension supervisory frameworks (the Dutch and Canadian framework) and examines which short-term and long-term regulations for occupational pension funds are best at maintaining a healthy financial situation for the fund and provides the best results for participants in terms of pension benefits.

Research Brief

Non-GAAP Financial Measures: Caveat Emptor

Today, approximately 20 per cent of the financial information used in making investment, lending and capital allocation decisions is prepared in accordance with generally accepted accounting principles (GAAP). 

Research Report

Primer on Gross Debt/GDP Risk in the Shadow of COVID-19: Canada Joins Top Debtor Nations

As the gross debt/GDP ratio grows, Canada faces the risk of increased interest coverage payments leading to reduced future fiscal flexibility. An acknowledgement of this increased risk must be met with an understanding of a plan to build the economy and to pay down the deficit. This raises a number of issues that need to be debated to address the risks coming in the future.

Research Report

Adapting to COVID-19: A Behavioural Lens on Financial Institution Resilience

With Canada now in its second year of living with COVID-19, the pandemic continues to pose ongoing and new challenges for financial institutions (FIs) in building resilience. Beyond unprecedented health, financial and economic risks, FIs face future challenges managing staff, operations and client relationships during the broader vaccine rollout.