.jpg)
1 hour ago
3
Article content
British Columbia Investment Management Corp. is closing two global stock-picking strategies that oversee about $4.3 billion, as it contends with a contracting pool of publicly listed firms.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The pension fund manager is retiring two internally managed global strategies focused on thematic and fundamental equities, BCI said in an emailed statement to Bloomberg. The strategies, Global Active Thematic Equities and Global Active Fundamental Equities, make up about 7.2 per cent of its public equities portfolio.
Article content
Article content
Article content
“The opportunity set for active fundamental stock selection in global developed equities has reduced materially — fewer listed companies, growth companies staying private for much longer, higher index concentration and a narrower path to alpha,” BCI’s global head of capital markets and credit investments, Daniel Garant, said in the statement.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The rise of passive investing has further reshaped markets in recent years, with investors directing more capital toward index funds and low-cost exchange-traded funds. At the same time, increasing concentration in major benchmarks — driven in part by the so-called Magnificent Seven group of tech and growth stocks — has diminished the payoff of stock picking.
Article content
Meanwhile, private capital is keeping high-quality businesses private for longer, BCI said in the statement. Other firms are staying away from the public markets because of regulatory costs and quarterly reporting mandates, according to the pension manager.
Article content
BCI, which had $251.6 billion in net assets as of March 31, 2025, said it will remain active in other areas of equities, including Canadian large-cap stocks, global quantitative active strategies and global emerging markets.
Article content
The pension manager said it has shifted the responsibilities of several individuals within capital markets, and that several others have left BCI.
Article content
Article content
We apologize, but this video has failed to load.
Article content
English (US)