Canadian non-bank ABCP losses take their toll

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CANADA - The pensions industry has been urged to always remember fundamental investment principles such as transparency, as losses from Canadian non-bank asset backed commercial paper (ABCP) become clearer.

The CAN$35bn (US$34.2bn) non-bank ABCP market has hit major Canadian pension funds with several billion dollars of write-downs following the freezing of the market, pending restructuring. August...

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