Other Brieflies this week:| MON | TUE | | THU | FRI | Soaring energy stocks lifted Canadian pension plans into positive territory in the second quarter despite lingering global credit concerns, according to RBC Dexia Investor Services. Canadian pension funds earned 1% in the quarter ended June 30, trimming six month losses to 1%. […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | OMERS is changing contribution rates in 2009 to better reflect the value of pension benefits earned. Rates for members with a normal retirement age of 65 will be slightly reduced in 2009 while most members with a normal retirement age of […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | During 2007, alternative assets managed on behalf of pension funds by the 99 world’s largest investment managers grew by 40% to US$822 billion compared the previous year. According to the research produced by Watson Wyatt in conjunction with Global Investor magazine, […]
Other Brieflies this week:| MON | | WED | THU | FRI | Julius Baer Americas is now Artio Global Investors. The change took effect on June 15. Artio Global Investors is now a subsidiary of Artio Global Management LLC (formerly Julius Baer Investment Management Inc). It provides investment management services and is best known […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Although employer medical costs in the United States have risen steadily for decades, the rate of growth has been slowing in each of the past five years until now, according to a PricewaterhouseCoopers Health Research Institute report. The report—Behind the Numbers: […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Federal Finance Minister Jim Flaherty delivered an upbeat assessment of Canada’s economy at the Canada Cup of Investment Management in Toronto on Friday. He said that aside from the struggling auto sector, the current American economic malaise will not be duplicated […]
The deal to take BCE private by a consortium led by the Ontario Teachers’ Pension Plan may not close before the end of the quarter after the Quebec Court of Appeal ruled on Wednesday that the agreement was not fair to bondholders. The news sent BCE shares down as much as 14% on Thursday. The […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Alpha Group, which plans to launch its alternative trading system in September to compete with the Toronto Stock Exchange, will charge the same fees to all participants regardless of the size of the dealer firm or its trading volumes. Jos Schmitt, […]
We’ve seen a number of big deals recently within the money management industry—most notably, the $1.4-billion acquisition of Phillips, Hager & North (PH&N) by the Royal Bank of Canada (RBC). Pending regulatory approval, PH&N will become part of the newly created RBC Wealth Management. The deal would put RBC within striking distance of becoming […]
Four of the Big Five banks have confirmed they will participate in the restructuring of third-party asset-backed commercial paper (ABCP). Bank of Montreal, CIBC, Royal Bank and Scotiabank have agreed in principle—subject to certain conditions—to join National Bank, certain members of the pan-Canadian investors committee and certain dealer bank asset providers, and participate as lenders […]