Public Sector Pension Investment Board (PSP Investments) has reduced its stake in Independent Bank Corp. during the first quarter of 2023, according to recent reports. PSP Investments, a Canadian pension investment manager, made the decision to decrease its holdings in Independent Bank Corp., a financial institution, as part of its portfolio adjustments.
PSP Investments, based in Montreal, returned a net 4.4% for the fiscal year ended March 31, surpassing the -2.8% net return of the previous year. This positive performance showcases PSP Investments' ability to navigate challenging market conditions and generate returns for its investors.
In a notable development, PSP Investments announced the appointment of Deborah K. Orida as its new President and CEO, effective September 1, 2022. Orida brings extensive expertise and a global perspective to the role, which will contribute to the continued growth and success of PSP Investments.