Economic Update & Investment Management: Municipal Reserves, Capital Markets and the Path Forward
Webinar Overview:
Today's investment landscape presents great complexity. Structural geopolitical shifts, energy market volatility, and divergent global economic forces are reshaping capital markets worldwide. For Ontario municipalities managing reserves under the prudent investor regime, the stakes have never been clearer: disciplined, informed decision-making is essential to navigating uncertainty and capturing emerging opportunities.
Join PH&N Institutional, investment manager for ONE Investment's Prudent Investor offering, for a timely exploration of the macro headwinds and tailwinds shaping 2026—from energy market shocks to tariff regimes, evolving central bank policies, and competitive dynamics in capital markets. We'll examine how these forces impact municipal portfolio construction, diversification, and long-term value creation.
What You Will Learn:
Several key learning areas will be covered in this webinar, including:
- The global economic backdrop: Structural geopolitical shifts (multipolar order, deglobalization), recent energy disruptions, and their implications for growth, inflation, and market risk premiums
- Capital markets in flux: Current asset valuations, yield curves, sector opportunities, and the balance between headwinds (trade tensions, fiscal pressures) and tailwinds (AI growth, monetary policy support)
- Investment management: How to build resilient portfolios through diversification, and balancing short-term volatility with long-term return objectives
Who Should Attend:
- Municipal staff responsible for investments and financial planning
Benefits of Attending: Participants can expect to:
- Gain insights into the current economic backdrop and capital markets behaviour;
- Have an understanding of the investment frameworks available to municipalities;
- Study the importance of a long-term investing mindset amid short-term volatility
About your Panel Moderators:
Martin Leclair, CFA, is a vice-president and institutional portfolio manager at PH&N Institutional
Paul Purcell, CFA, is a managing director and institutional portfolio manager at PH&N Institutional
They both assume leadership in the development of multi-asset solutions for institutional investors and play key roles in the development and execution of the ONE Investment’s Prudent Investor offering to municipalities of Ontario. They both have more than 30 years of experience working alongside institutional investors across Canada at both asset management firms and consultancies.