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Marlene Puffer

Chair, Canadian Taxonomy and Transition Planning Council · 1 appearance on the record.

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Dr. Marlene Puffer previously served as Chief Investment Officer of AIMCo and earlier as President and CEO of the CN Investment Division, overseeing the CN Pension Trust Funds. She has also served as Vice Chair of the Healthcare of Ontario Pension Plan board and past president of Women in Capital Markets.

35statements → 6claims → 2claims resolved → 3.91/5average certainty → 1.8/5average debate potential → ≈4.5/5argument clarity, estimated →

2 supported 0 partly supported 0 contradicted 4 not checkable as stated how the 6 claims stand · each chip opens the sources

6 assertions · 4 opinions · 12 insights · 13 disclosures · every statement was checked. The predictions and assertions are the 6 claims: statements the public record can support or contradict. 2 are resolved, and 4 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Marlene argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Puffer: Large Canadian pensions have minimal home bias in return-seeking assets
“We don't have much of a home bias anymore in the large Canadian pension plans. Canada is, call it, three point something percent of GDP globally, and our portfolios now are closer to reflecting that in our return-seeking assets.”
Marlene Puffer Sep 11, 2023 ▶ 54:04 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Marlene Puffer on measured tape to publish a rate. This says nothing about how they speak.

Everything Marlene Puffer said on Capital Allocators that made the record, most notable first. Filter by type, assessment or year in the ledger →

Disclosure
Puffer: AIMCo has ~175 investment professionals and is opening Singapore, NYC offices
“I went from having 45 or so investment professionals at CN to now I have about 175, and we're located across the globe. We have offices in Edmonton, Calgary, Toronto, and London, and we're opening offices in New York and Singapore.”
Marlene Puffer Sep 11, 2023 ▶ 30:18 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Disclosure
AIMCo hires former GIC executive to head Singapore office
“So, for example, in Singapore, we've got a new head of Singapore starting in a couple of weeks who's coming to us from GIC”
Marlene Puffer Sep 11, 2023 ▶ 32:58 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Disclosure
Puffer: AIMCo's New York office focuses on growing direct private debt
“In private debt and loan, we have a strategy to grow, and that's really the impetus behind our New York office. Is expanding our investments in private debt and loan and increasing the proportion of direct investment there.”
Marlene Puffer Sep 11, 2023 ▶ 36:26 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Disclosure
Puffer: AIMCo is splitting alpha and beta in public equities
“In the public markets, primarily internally managed, but in our equity book, for example, we've recently taken an approach of being clearer about the strategies that we have in place for our clients that are separating out alpha and beta more clearly. So we ha…”
Marlene Puffer Sep 11, 2023 ▶ 36:46 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Disclosure
AIMCo expects four-to-one direct investment ratio from private credit partners
“We still work with partners, but we also expect something like a four to one ratio of direct investment opportunities. For every dollar that we're putting with a partner.”
Marlene Puffer Sep 11, 2023 ▶ 45:26 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Insight
Puffer: Opportunistic real estate is less of a direct inflation hedge
“The more opportunistic part of the real estate market is less of a direct inflation hedge.”
Marlene Puffer Sep 11, 2023 ▶ 50:49 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Disclosure
AIMCo accesses high-risk markets via strong rule-of-law exporters
“And being careful about gaining exposure to certain higher risk markets indirectly through jurisdictions where the rule of law is strong and perhaps where the companies that we're investing in may be exporters to regions that are a little more challenging to i…”
Marlene Puffer Sep 11, 2023 ▶ 52:45 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Insight
Puffer: Subordinates often mistake a leader's casual musings for directives
“It's easy as a leader to think out loud from time to time without noticing that people really listen to you when you think out loud, and oftentimes they'll go off and do things because they think it's what you want when all you were doing is wondering about so…”
Marlene Puffer Sep 11, 2023 ▶ 1:03:16 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Insight
Marlene Puffer: Fixed income investing forces focus on downside risk
“Coming up through the fixed income side is interesting because it combines the macro view where it's all the macro forces that influence interest rates with the credit view where it's very micro forces that influence credit quality. It's where macro and micro …”
Marlene Puffer Sep 11, 2023 ▶ 31:07 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Disclosure
Puffer: Infrastructure is AIMCo's most global, direct private asset class
“Of the private asset classes, infrastructure is the most global and has a very high proportion of direct investments.”
Marlene Puffer Sep 11, 2023 ▶ 35:31 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)
Disclosure
Puffer: AIMCo's private equity exposure is mostly fund investments
“And in private equity, we're mostly funds and some co-investment.”
Marlene Puffer Sep 11, 2023 ▶ 36:18 Marlene Puffer – Canadian Pension Model at AIMCo (EP.337)

Appearances (1)

EpisodeDateSpeaking time
Marlene Puffer – Canadian Pension Model at AIMCo (EP.337) Sep 11, 2023 46m
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