/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES/ TORONTO, Dec. 08, 2022 (GLOBE NEWSWIRE) — Nexus Industrial REIT (“Nexus” or the “REIT”) (TSX: NXR.UN) announced today the closing of its previously announced public offering (the “Offering”) of trust units of the REIT (the “Units”) to a syndicate of underwriters led… [Read More]
TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris REIT”) (TSX: PMZ.UN) announced today that its Board of Trustees has declared a distribution of $0.0683 per unit for the month of December, 2022, representing $0.82 per unit on an annualized basis. The distribution will be payable on January 16, 2023 to unitholders of record on December 30, 2022.
About Primaris REIT
Primaris REIT is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in dominant enclosed shopping centres in growing markets. The portfolio totals 10.9 million square feet and is valued at approximately $3.2 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris REIT is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.
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Chief Executive Officer
Chief Financial Officer
MISSISSAUGA, Ontario–(BUSINESS WIRE)–Schneider Electric, the global leader in the digital transformation of energy management and automation, and ORPC, an internationally recognized leader in marine energy technology, innovation and operational excellence, have signed a memorandum of understanding to collaborate on microgrid projects to advance marine energy as a commercially-viable renewable energy source.
Through this collaboration, ORPC and Schneider Electric will install microgrid systems that include Schneider Electric’s energy storage and smart microgrid controllers with ORPC’s RivGen Power Systems to provide communities worldwide with highly predictable baseload electricity in renewable energy form, enabling the global transition towards net-zero societies.
“The ability to provide exciting, cutting-edge, sustainable solutions, like ORPC’s RivGen Power System, works as part of a portfolio of microgrid systems for our customers. It paves the way to establish marine energy as a commercially viable solution in the renewable energy mix,” said Bala Vinayagam, SVP Microgrid Line of Business from Schneider Electric. “The path to net zero includes many forms of decarbonization and having microgrid systems with ORPC’s technology only widens the impact on what our solutions can provide.”
Schneider Electric and ORPC are already working on implementing this solution in partnership with the remote, tribal community of Igiugig, Alaska. When this project is completed in the summer of 2023, the integrated system will form the grid for the community, moving the existing diesel generators to back-up and enabling the village to operate without diesel for between 60% and 90% of the time. In Igiugig, ORPC’s RivGen Power System has proven successful operating through three winters with temperatures going as low as -40 degrees C. As a result of environmental monitoring of the Igiugig project, comprising hundreds of hours of data, not a single injury or mortality to marine or aquatic life has been observed. Schneider Electric supplied Battery Energy Storage System (BESS) with EcoStruxure Microgrid Operation to enable use of River Gen system for diesel reduction. This is achieved by leveraging the Grid forming capability of the Schneider Electric BESS.
ORPC has already received inbound interest in its power systems from over 40 countries. Schneider’s global operations include offices in over 100 countries which will enable the two companies to build a global pipeline of projects.
‘’Nearly 1 billion people globally have no access to electricity and another 700 million rely on diesel-fueled off-grid systems. These communities pay up to 15 times more for electricity than grid-connected areas do, and deal daily with the noise, poor air quality and environmental risk resulting from diesel fuel use,” said ORPC CEO Stuart Davies. “We are so pleased to join forces with Schneider Electric, recognized as a leader for microgrid technology and sustainability (2022 Verdantix report) to better respond to the market inquiries we’ve been receiving and together provide baseload power solutions to these areas of the world with the greatest need.”
“The combination of ORPC’s RivGen Power System and Schneider Electric’s energy storage and smart microgrid controller can serve as a powerful tool to address climate change. For communities already using diesel generators, this system can provide a baseload energy solution and replacement for existing systems,” said Alexandre Paris, Senior Vice President & COO, ORPC. “Developing economies can build out their electricity networks economically without using expensive, centralized grids reliant on fossil fuels.”
“This partnership is an important step forward in our company’s journey to provide everyone, everywhere with access to clean, reliable electricity from sustainable sources such as marine renewable energy,” says Frederick Morency, VP Sustainability, Strategic Initiatives & Innovation, Schneider Electric. “The combination of Schneider Electric’s microgrid technology and ORPC’s power system solution offers an innovative path to bridge progress and sustainability – and empowers remote communities to help lead the energy transition and preserve the natural environment on which they have built their lives. I am proud of this collaboration and excited to see the new pathways we create together.”
Headquartered in the U.S., with subsidiaries in Canada, Ireland and Chile, ORPC is a recognized leader in marine energy technology innovation and operational excellence. A developer of clean, renewable power systems that harness energy from free-flowing rivers and tidal currents, ORPC’s rise to a leadership position in the worldwide marine energy industry is based on an impressive record of continuous improvement and success.
In 2021, ORPC was honored as “Innovator of the Year,” by the State of Maine’s International Trade Center and has a long track record of prestigious awards dating back more than a decade, including “World’s Top Ten Most Innovative Companies in Energy” by Fast Company (2013), and the National Hydropower Association’s Award for Operational Excellence in 2016 (ORPC is the first marine energy company to receive this award).
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Hashtags: #Microgrid #LifeIsOn #AccessToEnergy #SchneiderElectric
Media Relations – Edelman on behalf of Schneider Electric, Juan Pablo Guerrero,
Phone: +1 416 875 7173, Email: firstname.lastname@example.org
The Daniels Corporation, DiamondCorp, Kilmer Group, together with the City of Toronto, help Habitat for Humanity families achieve the dream of homeownership
TORONTO–(BUSINESS WIRE)–Yesterday, The Daniels Corporation (“Daniels”), DiamondCorp, Kilmer Group, and Habitat for Humanity GTA (“Habitat GTA”), welcomed three Habitat families to their new homes in the Daniels FirstHome™ Keelesdale community. These three families received the keys to their new homes at Habitat GTA’s Home for the Holidays celebration.
Located in Toronto’s Keelesdale neighbourhood, Daniels FirstHome™ Keelesdale is a vibrant 12-acre master-planned community nestled in a lush ravine setting, surrounded by beautiful outdoor spaces, public parks, established walking and cycling trails and family-friendly amenities. From its inception, the vision for this community was to be dynamic, exemplifying a complete, transit-oriented community that is seamlessly integrated with its surrounding neighbourhoods and places accessibility and inclusivity at the forefront. The Daniels FirstHome™ program, a highly successful brand of communities located throughout the GTA, stands for creating more attainable homeownership opportunities through various programs and incentives.
“At a time of year when we gather around with our friends and loved ones, it is truly heartening to know this season will be an unforgettable one for these working families as they look forward to brighter futures and – for the first time – celebrate the holidays in their beautiful, new homes,” said Ene Underwood, CEO of Habitat for Humanity GTA. “We are proud to stand with Daniels, DiamondCorp and Kilmer Group and value their commitment to creating affordable homeownership opportunities in our communities. We look forward to working together to build more inclusive, resilient and equitable neighbourhoods where children and parents thrive.”
In 2020, DiamondCorp and Kilmer Group were awarded the Habitat for Humanity GTA’s inaugural “Developer for Humanity Award” and in 2022, Daniels was awarded the inaugural “Developer for Humanity Lifetime Achievement Award”. These awards are a testament to Daniels, DiamondCorp and Kilmer Group’s commitment to delivering affordable homeownership opportunities while demonstrating their commitments to the economic and social wellbeing of the communities they build. Welcoming three partner families to their new homes at Daniels FirstHome™ Keelesdale ahead of the holidays is an example of the magic that can happen when industry builders and developers partner with Habitat GTA to support its mission of helping families build strength, stability and self-reliance through affordable homeownership.
Through their long-standing partnership with Habitat for Humanity GTA and local affiliates, Daniels, DiamondCorp and Kilmer Group have helped empower families in need of a place to call home. Alyssa Keel, one of the participating Habitat partner families and proud new Daniels FirstHome™ Keelesdale homeowner stated, “Every Habitat family has a unique story, whether we are leaving unsafe, unhygienic, overcrowded, or unaffordable apartments – we have all struggled with trying to do the best we can for our children. As parents, we want to see our children thrive, become members of their community, make friends, be happy, and we want to ensure that our children are not impacted by our own financial stresses as they grow up – that they get to stay children as long as possible without worrying along with us. You have given us the opportunity to watch our kids ride their bikes down the street, join clubs, play sports, and be healthier, safer, and happier. Thank you for this incredible gift.”
Daniels FirstHome™ Keelesdale marks the 96th Habitat partner family that Daniels has helped support through their 26-year partnership with Habitat for Humanity and their affiliates. “For over two decades, Daniels has been a proud partner of Habitat for Humanity and has showcased the incredible power of collaboration. As responsible builders and developers, we play a vital role in strengthening the communities where we live and work,” said Niall Haggart, Partner and Executive Vice President at The Daniels Corporation. “Our partnership with DiamondCorp, Kilmer Group and Habitat GTA allows three deserving families to realize the dream of homeownership, which will in turn help establish security, safety, and stability in their lives. We look forward to our continued collaboration for many decades to come.”
“We are honoured and proud to be partnering with Habitat GTA, The Daniels Corporation and Kilmer Group to provide affordable housing to three families ahead of the holidays,” said Bob Blazevski, President and COO of DiamondCorp. “The Daniels FirstHome Keelesdale community is a testament to the positive impact industry partnerships lead to, and we look forward to continuing to build strong communities and brighter futures for families across the GTA.”
“Our partnership with Habitat for Humanity GTA, The Daniels Corporation and DiamondCorp has enabled us to help three Habitat families realize the strength and stability of affordable homeownership,” said Ken Tanenbaum, Vice Chairman of Kilmer Group. “This is an incredible example of what happens when the non-profit and private sectors band together to build inclusive, affordable and resilient communities.”
For more information about Daniels FirstHome™ Keelesdale, please visit www.keelesdale.com.
About The Daniels Corporation
The Daniels Corporation (www.danielshomes.ca) is one of Canada’s pre-eminent builders/developers, building more than 35,000 new homes across the Greater Toronto Area for over 38 years. Daniels is the developer of TIFF Bell Lightbox in Toronto’s Entertainment District and the City of the Arts community on Toronto’s East Waterfront. Among its many initiatives, Daniels partnered with Toronto Community Housing to revitalize 53 of the 69-acre Regent Park community in Toronto. At the core of the revitalization is both a physical and social re-connection of this once stigmatized neighbourhood to the broader City of Toronto. Today, Regent Park is the global hub of Sustainable Development Goals and home to the World Urban Pavilion – Powered by Daniels, a collaborative initiative between the Urban Economy Forum, UN-Habitat, Canada Mortgage and Housing Corporation and The Daniels Corporation. Understanding that quality of life is created by much more than physical buildings, Daniels goes above and beyond to integrate building excellence with opportunities for social, cultural, and economic well-being.
DiamondCorp is a Toronto-based real estate development company that maintains a strong commitment to developing high-quality, innovative, and award-winning residential and mixed-use projects. The company has established itself as a leader in progressive city building in the GTA with a proven track record in achieving municipal approvals for complicated sites translating into the highest and best use. Working together with the local Councillor, City Staff, and community, DiamondCorp is able to achieve its land use goals, creating developments that are sensitive to the surrounding community. Since its founding in 2008, DiamondCorp has invested in 27 development projects across the GTA, totaling development density of over 21 million square feet, and acts as manager of the five Whitecastle New Urban Funds which represent approximately $1 Billion of committed equity. For more information, please visit us at www.diamondcorp.ca.
About Kilmer Group
Kilmer Group is a multi-generational platform for business development and investment which is focused on Canadian enterprise and infrastructure and is built on a heritage of excellence in operations, growth-oriented stewardship and trusting relationships. Based in Toronto, Kilmer Group focuses its investments in three verticals: Private Equity, Infrastructure & Real Estate, and Sports & Media.
About Habitat for Humanity GTA
Habitat for Humanity GTA (www.habitatgta.ca) is a local organization with a global vision of a world where everyone has a safe and decent place to live. We mobilize communities to help working families build strength, stability and self-reliance through affordable homeownership. With the help of volunteers, donors, and community partners, we provide a solid foundation for better, healthier lives for families in the GTA. Since 1988, Habitat GTA has built 23 new communities, providing a hand-up to hundreds of families so parents and children can have a safe, decent and affordable place to call home.
For more information or to request an interview, please contact:
Kaiser & Partners
TORONTO, Dec. 7, 2022 /CNW/ – Standard Mercantile Acquisition Corp. (TSX: SMA) (the “Company“) today announces that the Company has negotiated a favorable renewal of a mortgage (the “Alberta Mortgage“) with a principal amount of approximately $16.9 million (of which the Company’s portion is approximately $8.4 million), which is approximately 77.5% of the Company’s mortgage portfolio consisting of… [Read More]
TORONTO, Dec. 7, 2022 /CNW/ – Summit Industrial Income REIT (“Summit” or the “REIT”) (TSX: SMU.UN) announced today that two leading independent proxy advisory firms, Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis and Co., LLC (“Glass Lewis”) have each recommended that unitholders of the REIT (the “Unitholders”) vote FOR the previously announced plan of… [Read More]
MISSISSAUGA, ON, Dec. 7, 2022 /CNW/ – Chartwell Retirement Residences (“Chartwell”) (TSX: CSH.UN) announced today that it has completed the previously announced ownership transition of Malaspina Care Residence and Carlton Care Residence, with a total of 264 long-term care beds (the “BC Properties”), to AgeCare Health Services Inc. (“AgeCare”) and a fund managed by Axium… [Read More]
TORONTO, Dec. 07, 2022 (GLOBE NEWSWIRE) — HALMONT PROPERTIES CORPORATION (TSX-V: HMT) (“Halmont” or the “Company”) announced today that the Company’s notice of intention filed with the Toronto Venture Exchange (“TSXV”) to purchase for cancellation up to 4,197,000 Class A common shares representing 5% of the 83,940,000 Class A common shares outstanding as of December… [Read More]
Velocity and timing of stabilization, repricing and recovery to differ across markets and sectors, creating multiple investment opportunities LONDON and TORONTO, Dec. 07, 2022 (GLOBE NEWSWIRE) — After a volatile year of geopolitical tensions, economic shocks and uneven monetary policy, Colliers (NASDAQ and TSX: CIGI) anticipates the process of stabilization of the global real estate… [Read More]
LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self storage company, today announced that its board of directors has declared an updated estimated Net Asset Value (“NAV”) of $15.21 per share for its Class A and Class T shares, as of September 30, 2022. This was based on an appraisal that provided an estimated net asset value range of $14.15 to $16.38 per share, with a mid-point estimated value of $15.21 per share. SmartStop’s previous estimated NAV per share was $15.08 as of June 30, 2021.
“I am pleased to report that SmartStop’s estimated NAV per share has increased from our most recently declared NAV, despite recent economic volatility,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “The increase in SmartStop’s NAV is a testament to the power of the SmartStop® Self Storage operating team and platform, our team of acquisition professionals who helped build this portfolio, and our long-term income and growth strategy.”
On December 6, 2022, SmartStop’s board of directors approved the estimated per share NAV of $15.21 based on the estimated value of SmartStop’s assets less the estimated value of its liabilities, or net asset value, divided by the number of shares outstanding on an adjusted fully diluted basis, calculated as of September 30, 2022.
Robert A. Stanger & Co., Inc. (“Stanger”), an independent third-party valuation firm, was engaged to provide valuation services of SmartStop’s assets and liabilities, including 156 wholly-owned properties and interests in six joint venture operating properties. Upon the nominating and corporate governance committee’s receipt and review of Stanger’s appraisal report and net asset value report, the committee determined that an estimated value per share range of $14.15 to $16.38 was reasonable and recommended to the board that it adopt the mid-point valuation of $15.21 per share, as the estimated value per share for SmartStop’s Class A shares and Class T shares.
SmartStop acquired its 156 wholly-owned assets for approximately $1.9 billion and invested approximately $77 million subsequent to purchase. The total estimated mid-point value of the properties was approximately $2.7 billion as of September 30, 2022, representing an approximate 37% increase in the total value over the aggregate purchase price.
The appraisals were performed in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), the real estate appraisal industry standards created by The Appraisal Institute, as well as the requirements of the jurisdiction where each real property is located.
The valuation was determined in compliance with the Institute for Portfolio Alternatives’ practice guideline regarding valuations of publicly registered non-listed REITs (“IPA guidelines”). Consistent with the IPA guidelines, the valuation does not include a portfolio premium that may reasonably be expected to accrue in a typical real estate valuation process conducted for transaction purposes, nor does it reflect an enterprise value.
For a full description of the methodology and assumptions used to determine the estimated per share NAV and the limitations of the estimated per share NAV, please see SmartStop’s Current Report on Form 8-K that was filed with the U.S. Securities and Exchange Commission on December 6, 2022.
About SmartStop Self Storage REIT, Inc. (SmartStop)
SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 450 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of November 30, 2022, SmartStop has an owned or managed portfolio of 176 properties in 22 states and Ontario, Canada, comprising approximately 120,600 units and 13.7 million rentable square feet. SmartStop and its affiliates own or manage 20 operating self storage properties in the Greater Toronto Area, which total approximately 17,050 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
VP of Corporate Finance
SmartStop Self Storage REIT, Inc.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
OTTAWA, Ontario–(BUSINESS WIRE)–InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent”) announced today that its distribution declared for the month of November 2022 is $0.0300 per Trust unit, equal to $0.3600 per Trust unit on an annualized basis. As previously announced, the Board of Trustees decided to increase the amount of future distributions as a result of InterRent’s portfolio demonstrating strong sustainable results. The November distribution represents a 5.3% increase over the previous 2022 monthly distributions. Payment will be made on or about December 15, 2022, to unitholders of record on November 30, 2022.
InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.
InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure, and offer opportunities for accretive acquisitions.
InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Team sees the Canadian economy slipping into a mild recession, contracting -0.5% for the year
TORONTO–(BUSINESS WIRE)–Russell Investments Canada Limited has released its 2023 Global Market Outlook, offering economic insights and market forecasts from the firm’s global team of investment strategists. Regarding the “Canada Outlook,” the team believes the Bank of Canada’s (BoC) very tight monetary policy will soon catch up to highly indebted households and potentially take the Canadian economy into a shallow recession. Meanwhile, a slowing global economy will drag on commodity prices and challenge Canadian exports.
“The good times of 2022 in terms of household spending and business investment may end in 2023, as the lagged effects of rate hikes are felt more intensely in the Canadian economy,” said Shailesh Kshatriya, director, investment strategies at Russell Investments. “However, as a mild recession gains momentum and inflationary pressures moderate, we believe the conditions should be in place toward the latter half of the year to allow the BoC to shift its policy stance towards interest rate cuts.”
The team also points out a couple of bright spots for investors amid talk of a recession: bond yields are more attractive, offering improved income, and government bonds may benefit from recession-driven risk-off sentiment.
In addition, the team remains positive on Canadian equities over the medium term due to better relative value and the potential for natural resource sectors to benefit from the energy transition.
Regarding the Canadian dollar, the team believes it will likely hover around 70-80 cents to the U.S. dollar as it searches for direction in an uncertain environment for commodities and the global economy.
The team assesses their investment decision-making building blocks of cycle, valuation, and sentiment as follows:
- Cycle: With recession as the team’s baseline assessment for the Canadian and U.S. economies, the business cycle outlook is negative. However, the team expects the cycle outlook will improve as BoC policy shifts from a restrictive hold to gradual easing, although in their view that may only occur in late 2023.
- Value: Traditional valuation measures such as price-to-earnings indicate decent value; however, the team is concerned about profit margins eroding as the economy slows. Therefore, the team rates value as neutral.
- Sentiment: Canadian equities have avoided a technical bear market in 2022, defined as a peak-to-trough pullback of at least 20%, and with domestic shares rebounding from the October lows, the team’s contrarian indicators are only modestly oversold. Overall, the team assesses sentiment as slightly positive.
“We are concerned about the business-cycle outlook,” Kshatriya said. “A more constructive view hinges on a policy pivot from the BoC, which may require patience. Therefore, while valuations are reasonable and the equity sentiment is not alarming, our cycle concerns are an overriding factor that keeps us neutral in an absolute sense and a possible pause to Canadian equities outperformance. Relative value, however, favors Canadian over U.S. equities over the medium term.”
Global market outlook
Globally, Russell Investments’ strategists believe a recession seems likely in 2023 and equity markets may struggle, but an economic recovery should be on the horizon by year-end.
“The main issue for 2023 is whether inflation pressures ease sufficiently to allow central banks to step away from rate hikes and potentially begin easing,” said Andrew Pease, global head of investment strategy at Russell Investments. “We expect inflation will be on a downward trend as global demand slows. This should allow central banks to eventually change direction and may set the scene for the next economic upswing.”
Russell Investments’ global asset-class views for 2023 include:
- Fixed income will make a comeback after experiencing the worst year of returns in 2022.
- Long-term bond yields should decline moderately as recession risk looms. The team’s target is 3.3% for the U.S. 10-year Treasury yield by the end of 2023.
- Equities have limited upside with recession risk on the horizon.
- The U.S. dollar could weaken late in 2023 as central banks start to unwind rate hikes and investors begin to focus on a global recovery.
- A weakening U.S. dollar could be the trigger for non-U.S. developed market equities to finally outperform U.S. stocks, given their more cyclical nature and relative valuation advantage over U.S. stocks. A weaker U.S. dollar could also be the trigger for emerging markets to outperform.
Looking toward 2023, the team offers the following asset-class preferences:
- Although non-U.S. developed equities are cheaper than U.S. equities, the team has a neutral preference until the Fed become less hawkish and the U.S. dollar weakens.
- Emerging market equities could recover if there is significant China stimulus, the Fed slows the pace of tightening, energy prices subside, and the U.S. dollar weakens. For now, the team believes a neutral stance is warranted.
- High yield and investment grade credit spreads are near their long-term averages, although the overall yield on U.S. high yield at near 8.5% is attractive. Spreads will come under upward pressure if U.S. recession probabilities increase and there are fears of rising defaults. The team has a neutral outlook on credit markets.
- Government bond valuations have improved after the rise in yields, and the team sees U.S., U.K., and German bonds as offering good value and Japanese government bonds offering fair value. “The risk of a further significant sell-off seems limited given inflation is close to peaking and markets have priced hawkish outlooks for most central banks,” Pease said.
- Real assets: Real-estate investment trusts (REITs) look attractively valued relative to global equities and listed infrastructure, and the team believes they should benefit from declining bond yields. The team sees the outlook for commodities as mixed, given the expected slowdown in the global economy.
- The U.S. dollar (USD) has made gains this year on Fed hawkishness and safe-haven appeal during the Russia/Ukraine conflict. The team believes USD could weaken if inflation begins to decline and the Fed pivots to a less hawkish stance in early 2023. The team believes the euro and Japanese yen would be the main beneficiaries.
For more details on the outlook, the team’s full report is available here.
About Russell Investments Canada Limited
Russell Investments Canada Limited is a wholly owned subsidiary of Russell Investments Group, Ltd. Established in 1985, Russell Investments Canada Limited has its head office in Toronto.
About Russell Investments
Russell Investments is a leading global investment solutions firm providing a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Building on an 86-year legacy of continuous innovation to deliver exceptional value to clients, Russell Investments works every day to improve the financial security of its clients. The firm has CA$376.9 billion in assets under management (as of 9/30/2022) for clients in 32 countries. Headquartered in Seattle, Washington, Russell Investments has offices in 19 cities around the world, including in New York, London, Toronto, Tokyo, and Shanghai.
Steve Claiborne, 206-505-1858, email@example.com