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China poses a conundrum for asset managers because while it is cheap and growing, there are risks when it comes to rule of law and transparency, said Evan Siddall, chief executive of the Alberta Investment Management Corp. (AIMCo).
The $158-billion pension and endowment manager opened its first office in Asia this month, in Singapore, and Siddall spoke about AIMCo’s plans there following a speech in Toronto on Sept. 26.
“My guess is that we’ll probably position ourselves in economies around that market that can participate in the growth but don’t have some of the risks,” he said. “If you can find opportunities to participate in the growth of consumer spending in China without actually being in China, those are attractive, depending on the price.”
Read the full story by Financial Post’s Barbara Shecter.
Canada’s main stock index closed down almost 250 points today with broad-based losses led by the telecom, utilities and base metal sectors, while U.S. stock markets also tumbled.
The S&P/TSX composite index closed down 244.46 points at 19,556.15.
In New York, the Dow Jones industrial average was down 388.00 points at 33,618.88. The S&P 500 index was down 63.91 points at 4,273.53, while the Nasdaq composite was down 207.71 points at 13,063.61.
A Quebec court has ordered Rio Tinto Alcan Inc. to pay $500,000 after the company allowed the discharge of acidic water into the Saguenay River following the failure of a boiler at its Arvida factory in Saguenay, Que., in 2019.
The company was fined after pleading guilty to one count of violating the Fisheries Act.
Environment Canada says the discharge happened on Sept. 17, 2019, after the company sprayed equipment with water to cool it down to allow for repair work.
The water from
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