OMERS Shakes Up Canadian Stocks
Moves them to quantitative program, cuts staff.
BY Caroline Cakebread | December 8, 2011
Ontario pension fund, OMERS, is shaking up its approach to Canadian stocks and getting rid of the team that focuses specifically on Canada according to a report today in The Globe and Mail. Team head Barbara Bale will be leaving OMERS along with two other members of the Canadian team. OMERS spokesman John Pierce confirmed the fun will shift Canadian stocks to its quantitative program and that Canadian stock picking will be done by the global stock team on a fundamental basis. Pierce also dispelled rumours that the fund will be moving to a passive approach: “We will not become passive indexers,” said Mr. Pierce. “We are still going to be active investors in the Canadian market, we will be doing that through an active quant investment program and on a fundamental basis using our global portfolio.”