Institutional Connect hosted our 4th annual West Forum in Vancouver on June 11 – 13, 2025. Experts from across Canada and beyond came together to share insights on the latest economic forecasts, asset allocation strategies, and emerging investment trends. They also delved into best practices in governance, ESG, responsible investing, and the growing field of impact investing.
Event Highlight Articles
Institutional Connect West Forum 2025
June 11 - 13, 2025
Fairmont Pacific Rim, Vancouver BC
Overview on Current Market Trends
In his opening keynote, Goldy Hyder, President and Chief Executive Officer, Business Council of Canada, shared his insights on how to attract investors to deploy more capital in Canada: government needs to create conditions for pension funds to invest in projects that are aligned with their objectives. As well, partnerships with business and labour are crucial to create long-lasting and well-paid jobs.
In the following panel on strategic asset allocation, three asset owners discussed their approach to portfolio construction in the current environment. Overall, market volatility does not impact on the ways that asset owners allocate. Portfolios are being constructed based in liabilities. In allocating to private assets, asset owners would need to understand the liability in order to withstand liquidity. Secondaries are being used to manage J-curves.
In his session on “AI-generated signals in quant funds” session, Arup Datta, Senior Vice President and Head of Quantitative Investing, Mackenzie Investments, shared that in machine learning, predicting returns is far more difficult than predicting fundamentals. As well he stressed the need for being nimble and adding human intervention in the process.
Real estate continues to be a favourable asset class, due to its generate stable income return, inflation hedge component as well as low correlation to other asset classes. Industrial and multi-residential sectors are the ones for investors to pay attention to.
In the Private debt discussion, panelists presented cases for U.S. distressed debt, insurance-linked strategies and Canadian real estate lending. In opportunistic credit, the ability to go up and down the capital structure, both debt and and equity risk, presents the benefit of all weather approach. In ILS, the source of risk, return, and liquidity are structurally uncorrelated to the capital markets. For Canadian mortgage sector, investors have the opportunity to collect coupon and therefore good yield, without taking on market volatility. Panelists also stressed the need for investors to pay attention to managers’ workout team.
Melissa Bockelmann from Aviva Investors, presented a case for European private debt. She shared that private debt is a diverse investment universe, and diversification is a strategic advantage. Illiquidity and complexity can drive returns, and Europe offers structural inefficiencies. Overall, private debt is becoming a core allocation.
The discussion on global investing delved into diversification and positioning, as well as emerging markets. Emerging markets volatility has come down because of both structural and cyclical reasons. Some of these economies have established domestic investor base. Among the countries to invest in, UAE is one that is most understood which presents opportunities.
In the discussion on manager selection, the focus drives from the needs of the institutions. For DB plans, funding is a key factor. For DC plans, as members are involved in decision-making, there needs to be assurance that no funds experience a huge drawdown. For indigenous clients, getting trustees up to speed and incorporate indigenous values are some key considerations. For foundations, needs of the community play a role in the manager selection process.
ESG, Responsible Investing, and Indigenous Partnerships
Our afternoon program kicked off with the second keynote session of the day. Jacky Shen, Director of Treasury and Investments at Simon Fraser University, shared SFU’s journey toward responsible investing and decarbonization. The process began with joining the PRI and evolved through efforts to measure and reduce the university’s investment carbon footprint while maintaining return objectives. He emphasized integrating ESG as part of risk management rather than a purely mission-driven agenda. Jacky also highlighted the importance of aligning sustainability efforts across the university, noting that meaningful impact often starts with operational changes. His advice to others considering this path was simple but powerful: understand your own context, take practical steps forward, and learn by doing.
In the ESG and sustainable investing panel, panelists explored how institutions are moving beyond exclusionary practices toward more intentional, impact-driven investment strategies, such as outcome-based bonds and climate-focused private credit. They emphasized the increasing importance of forward-looking risk assessments, such as climate and physical risk, and the role of data consistency and sector-specific analysis. Despite political headwinds, the panel agreed that ESG remains a key component of long-term risk management and portfolio resilience.
In the discussion on indigenous partnerships in Canada, panelists highlighted on how pooled borrowing models and equity investments enable communities to access capital for large-scale projects, support local economic development, and build long-term financial sustainability. Panelists pointed out that success in this space requires trust-based, relational approaches rather than transactional ones. Non-Indigenous investors were encouraged to engage respectfully, align with Indigenous values, and support initiatives that generate both financial and social impact.
With growing global interest in impact investing, panelists explored how impact investing can generate meaningful social and environmental outcomes without compromising financial returns. In summary, transparency, intentionality, and measurable outcomes, such as greenhouse gas reductions or inclusive job creation, are key to building credible impact portfolios. As ESG faces public scrutiny, the discussion highlighted the need for honest, data-informed strategies that focus on doing “real things” rather than performative claims.
The event concluded with a discussion on the right governance. Panelists exchanged thoughts on the right structure, depending on whether the institution will or not have internal staff manage assets; as well as talent strategy and stress testing scenarios.
Suggestions for a topic for future discussion?