Council’s audit committee heard the 2022 annual report on the City’s investment portfolio, which was worth $6.2 billion at the end of last year.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
Rod Babineau, senior leader of investments at the City of Calgary, explained to council that the invasion of Ukraine in February 2022 caused turbulence in the markets. He said it amounted to a double whammy in which both fixed-income investments and equity investments took hits, when one class of investments often offsets the other.Article content