The Don't Get Fired Podcast by Stanford Long-Term Investing UPP's Aaron Bennett: How To Build A New Canadian Pension Fund
Apr 29, 2025
Aaron Bennett, Chief Investment Officer of Ontario's University Pension Plan, dives into the fascinating world of building a new Canadian pension fund. He discusses the innovative challenges of creating a mid-size fund likened to a 'baby dragon,' emphasizing unique governance and collaboration. Bennett explores how emerging technologies like AI can improve asset management and enhance investment decision-making. He also highlights the importance of team alignment and diverse talent in fostering high performance within the pension sector.
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Aaron Bennett's CIO Role Start
- Aaron Bennett became the inaugural CIO at the newly launched University Pension Plan on July 1, 2021.
- He considers this opportunity the most exciting in his 25-year finance career, including time at Ontario Teachers.
Benefits of Pooling University Plans
- Ontario's universities previously managed separate single-employer pension plans with limited scale and diversification.
- UPP combines plans under shared governance, pooling risk and improving resilience through scale.
Advantages of a Fresh Start
- Starting fresh with no legacy systems let UPP adopt a modern, clean-slate approach to governance and technology.
- Being in Canada helped by offering a strong ecosystem of successful pension models to learn from and recruit talent.