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Second phase of crisis to offer 'compelling investment opportunities' – Wealth Professional

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“Large stimulus measures may be unavoidable in the near term, but responsible fiscal governance will be essential to debt sustainability going forward,” he said. “Unorthodox policies such as modern monetary theory and debt monetization are likely to see greater political interest in upcoming years, increasing the risks for structural damage by imprudent governments. This makes it ever-more crucial to monitor policy across developed and emerging markets alike, to identify which sovereigns have their fiscal houses in order or the ability to bring them to order, versus those that do not.”

The debt levels in the United States, Hasenstab said, will have long-term ramifications. It is projected to exceed 100% of gross domestic product (GDP) over the next decade with a fiscal deficit heading toward more than 5% of GDP by 2030. Short-term US Treasury yields are likely to remain anchored by monetary accommodation in the near term, but surging fiscal deficits, massive debt levels and inflation pressures will “eventually drive term premiums higher”.

So, what’s the strategy? How should global investors approach the current environment. Franklin Templeton Global Macro views the crisis in two phases, with the markets currently in the first phase, which is characterized by a prolonged period of elevated risk and uncertainty. It expects the second phase to feature a more sustainable recovery, shortly preceded by periods of distorted asset prices and compelling investment opportunities. This is where the opportunities are as investors look ahead.

He said: “In phase one, we are maintaining a largely defensive stance that focuses on higher allocations to safe-haven assets, lower duration exposures in select emerging markets, broad risk reductions and optimized liquidity. In phase two, we anticipate pursuing undervalued risk assets, with a particular focus on distressed valuations in higher duration local-currency sovereign bonds, emerging market currencies, and various credit sectors.

“We remain confident that these types of phase-two investment opportunities will ultimately arise, but we also recognize that the pandemic may persist for multiple quarters, potentially pushing out the timeline for when certain investment opportunities may become suitable. Until that point, we continue to glean new information and new insights amid the evolving crisis, as we monitor the global economy on a country-by-country basis to uncover current and future investment opportunities.”

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Calgary Police $8M contribution to community safety investment framework to be decided in early 2021 – Global News

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The Calgary Police Service remains committed to anti-racism work, but the decision on whether to add the proposed $8 million from their budget to the newly-formed community safety investment framework is still yet to be decided.

“It’s still early days in terms of the framework,” CPS Chief Mark Neufeld said.

“Going forward, we’re really interested in seeing what opportunities there may be that are brought forward by community partners and also looking at costing models for some of the internal opportunities where the programs we’ve referred to that are actually existing.”

Calgary Police Commission Chair Bonita Croft said the commission will also be involved in deciding on where that $8 million will go, based on a proposal coming to the January 2021 commission meeting.

“There is not a specific plan yet,” Croft said. “It’s all quite fresh coming out of the decisions of council last week.”

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Read more:
Calgary police chief Mark Neufeld discusses racism, use of force and defunding police

Tuesday’s commission meeting was the first time Neufeld publicly commented on city council’s decision to leave the proposed $8 million in the police budget and instead add $8 million of its own in seed funding for the framework.

The CPS chief said the seed funding “enhances capacity for innovation” in alternative call response models and is a “real win” for both police and citizens.

Neufeld repeated the commitment to reallocating funds for alternative call response models, relieving officers from calls involving mental health issues and persons in crisis.

“CPS proposed initially to reallocate funds to do this work, and we remain,” he said.

Ahead of the commission meeting, Mayor Naheed Nenshi said he would be “shocked” if the police decided against contributing to the framework.

“I would be surprised if we didn’t see a significant financial contribution from them, given that in their own budget they’ve already allocated eight million dollars to this work,” the mayor said.

CPS deputy chief Katie McLellan shared a report of the internal anti-racism work the police have completed since their original commitment to council in September.

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Calgary police provide update on anti-racism, use of force work

CPS has formed an anti-racism action committee, met with community organizations like the Calgary Alliance for the Common Good, and have met with internal and external advisory boards. Police are also working to improve “crisis triage,” a process involving sharing info with other agencies to identify “high-system users” and opportunities for better coordination and intervention points between agencies.

Calgary police are also in the process of selecting an external expert to produce a longer-term anti-racism roadmap for the police service.

The commission also heard an update five months into the CPS’ equity, diversity and inclusion (EDI) work.

“The focus is on gender and intersectionality and is grounded in an evidence-informed approach to social norms and cultural dynamics,” deputy Raj Gill told the commission.

Calgary police plan to have a consultant on board this month to begin integrating the EDI tool, with training on it to start in the early months of 2021.


Click to play video 'Calgary looking at what changes, if any, are needed for city police'



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Calgary looking at what changes, if any, are needed for city police


Calgary looking at what changes, if any, are needed for city police – Jun 8, 2020

More work to be done

Taylor McNallie, co-founder of Inclusive Canada and member of Defund2Fund, told the commission that none of the dozen community organizations she’s involved with have been consulted by the police or commission with regards to the new anti-racism board members yet to be named, saying “transparency is definitely not there.”

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Chief Neufeld told reporters that coordinating with bodies like the city, CPS and the commission requires careful coordination in order to complement efforts, recognizing there’s still work to be done in community engagement.

“I think we have to center the work that we plan to do and some of our initiatives on the lived experiences of members from our community,” the police chief said. “And those obviously are experiences that we don’t have.”

Neufeld added that police agencies tend to bias towards speed and efficiency.

“I think this work is much different,” Neufeld said Tuesday. “I think this work requires us to slow down and make sure we’re engaging with those communities to get those inputs.”

© 2020 Global News, a division of Corus Entertainment Inc.

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City makes investment in water and waste as part of $2.3B capital plan – Winnipeg Sun

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Article content continued

Chairperson of the City’s Water and Waste, Riverbank Management and the Environment committee, Coun. Brian Mayes (St. Vital) said in a statement on Tuesday he wants to see a reduction in sewage spills into rivers “with a $180 million commitment over the next six years.”

In a statement, the city said its capital investment plan will also invest $117 million in water main renewals, $117 million in sewer main revitalization over the next six years, and $39 million towards residential water meter renewal.

Environmental investments, the city explained, will contribute to the protection of Lake Winnipeg through upgrades to the North End Sewage Treatment Plant (NESTP), which they say are vital to future development in Winnipeg.

In September, council voted unanimously to endorse a request from the province to transfer $321.24 million of federal funds from the Transit Stream to the Green Infrastructure Stream under the Investing in Canada Infrastructure Program (ICIP) in support of upgrades to the NESTP.

The city said its decision hinged on the provincial government providing its share of $267.7 million towards the upgrade.

jsnell@postmedia.com

Twitter @JamesWestgateSn

Water and Waste 2021 budget report facts:

Number of complaints about raw sewer backups  2017: 687   2019: 1,000

Number of complaints about water taste and odour  2017: 205   2019: 133

Number of water quality tests conducted   2017: 66,734   2019: 63,952

Kilometers of sewer inspected and cleaned   2017: 124   2019: 157

Number of industrial waste tests conducted   2017: 41,522  2019: 64,361

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Investing in a sustainable future – Kaleido introduces its Sustainable Investment Policy – Canada NewsWire

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QUEBEC CITY, Dec. 1, 2020 /CNW Telbec/ – Kaleido, the pioneer in education savings, is introducing a new responsible and sustainable investment strategy this December with its new Sustainable Investment Policy. One financial action at a time, Kaleido is working to build a brighter future.

“Sustainable investment means more than just investing in environmentally responsible firms,” says Isabelle Grenier, President and CEO of Kaleido. “We’re proud to say that 100% of our asset managers consider environmental, social, and governance factors—ESG criteria—when choosing what securities to invest in. We have an enormous responsibility as asset managers because every choice counts!”

ESG investing prioritizes organizations that create lasting value while making positive contributions on important social and environmental issues. It’s a philosophy that goes hand-in-hand with Kaleido’s work in education savings. After all, our goal is to build value over the years so our families can use their investments for their children’s postsecondary studies.

Kaleido also advocates for best practices in sustainable investment along with other national leaders in the field as an associate member of Canada’s Responsible Investment Association (RIA).

“We are committed to staying ahead of the curve. Our portfolio managers are already taking positions in favor of workplace safety and greenhouse gas reduction, for example. Our Sustainable Investment Policy is one more step towards our goal to create a brighter future for our youth,” says Grenier.

As always, Kaleido is driven by the conviction that all children can achieve their full potential when given the means. To give future generations the same chance, it is both logical and vital to invest in companies and initiatives that are working toward that goal.

 About Kaleido

Kaleido helps families in Quebec and New Brunswick give their children a leg up on future success. Every day more than 100 employees and as many representatives create brighter opportunities for youth through education savings, parent support, and insurance solutions.

Kaleido has been a pioneer in education savings since 1964. Over the years the organization has issued $993 million in educational assistance payments and savings refunds to benefit more than 227,000 young people. Kaleido has $1.7 billion in assets under management.

To learn more, visit kaleido.ca/en and follow us on social media.

SOURCE Kaleido Growth Inc.

For further information: Patrick Pedneault, Media Relations, [email protected], 418-651-8977, ext. 2312

Related Links

https://www.kaleido.ca/

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