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The company started in 2013 at Fortress to take advantage of dislocations in the MSR market as banks were selling MSRs to Basel III capital constraints. As we look at Great Ajax, it's a platform that's going to be externally managed, assuming that shareholder vote is affirmative for us. The Motley Fool has a disclosure policy.
This trend was even more pronounced among funds managing over $50-billion, with Canadian pensions handling 80 per cent of assets in-house versus 34 per cent for their global peers. OTPP now manages over $250-billion, compared with $15-billion in 1997. This model works best for funds whose pension liabilities are indexed to inflation.
Keep in mind, between 2013 and 2019, our average NPL ratio was 107 basis points. Our average net charge-offs from 2013 to 2019 were 46 basis points. And finally, wealth management had maybe the best year it's had, certainly in some time, and we expect wealth managementfee revenue to continue to grow in 2024.
billion or 21%, largely driven by higher investment banking revenue and asset managementfees. Asset and wealth management reported net income of 1.3 I mean, when I asked Jamie at the 2013 Investor Day, you know, would it make sense to have 13.5% NIR ex markets was up 7.3 billion or 56%. Expenses of 23.7 Revenue of 5.3
Share repurchases have been a consistent element of our capital management strategy. Since 2013, we've repurchased close to 15 billion of BlackRock stock, which generated an unlevered compound annual return of 14% for our shareholders. The integration will nearly double our private markets managementfees to over 1.5
Asset and Geography Mix CPP Investments, inclusive of both the base CPP and additional CPP Investment Portfolios, is diversified across asset classes and geographies: 1 Fixed income consists of cash and cash equivalents, money market securities and government bonds, all net of financing liabilities. Our original investment was made in 2013.
We began the company in 2013 while at Fortress to acquire MSRs from banks as Basel III capital rules made them too costly for banks to hold. That is an external managed vehicle. So, managementfees as we grow that will feed to the bottom line. There is a managementfee and a promote. Two for me.
This marks the plans 12 th consecutive year being fully funded (meaning plan assets exceed future pension liabilities), underscoring the plans long-term financial health and stability. Investment performance Given the plans liabilities stretch decades into the future, results over longer periods are particularly important.
I was in my early thirties, I didn’t have a mortgage, I didn’t have kids, I had very few liabilities. 00:41:54 [Speaker Changed] That was in an Asian manager in 2013. But I will say the average discount these days, the best private equity fund managers do not trade at discounts. That’s unbelievable.
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