In Africa, Asia, Latin America and the Middle East, pension funds are increasing their exposure to equities at the expense of fixed income, according to a new report by Mercer. In aggregate, over the five-year measurement period, average allocations to equities for the growth markets covered by the report rose eight percentage points to 40 per […]
The Public Sector Pension Investment Board reported a net return of 7.1 per cent at the end of its last fiscal year, ending March 31, 2019. The fund increased its overall assets under management by 9.7 per cent, jumping from $153.1 billion to $168 billion, including the $3.7 billion the fund received in net contributions. […]
Since standard banks began to shy away from their traditional financing role after the 2008 financial crisis, institutional investors have helped maintain markets by becoming increasingly important providers of long-term capital. Historically low interest rates also pushed these sovereign wealth and pension funds away from the traditional fixed income bedrock of their portfolios into a bevy […]
Morningstar Inc. has signed a deal to buy Canadian debt-rating agency DBRS for US$669 million. The U.S. company says the combination of DBRS with Morningstar Credit Ratings’ U.S. business will expand its global asset class coverage. Morningstar says DBRS, formerly known as the Dominion Bond Rating Service, will continue to be led by its existing […]
Fiera Capital Corp. is acquiring Foresters Life Insurance Co.’s asset management business in an effort to beef up its offering for institutional clients, according to Jean-Philippe Lemay, Fiera’s president and chief operating officer. Montreal-based Fiera will buy Foresters Asset Management Inc., Foresters’ Toronto-based investment management subsidiary that’s focused on institutional and insurance liability-driven investment. The terms […]
Sun Life Investment Management is appointing Elaad Keren as senior managing director and head of mid-markets lending. In the new role, Keren is replacing Keith Cressman, who will retire in September after a 35-year career in the investment management industry. Prior to the role at Sun Life, Keren was a member of the senior management team at CWB Maxium Financial. […]
With global equities rebounding after a volatile end to 2018, Canadian defined benefit pension plans posted positive returns in the first quarter of 2019, according to new data by Northern Trust Corp. The Northern Trust Canada Universe, which tracks the performance of Canadian institutional investment plans using the firm’s asset servicing offerings, found Canadian plans posted a median […]
After starting to manage funds for its first two clients, the Ontario Pension Board and the province’s Workplace Safety and Insurance Board, the Investment Management Corp. of Ontario has released its 2018 annual report outlining its progress. Though the investment results of its activities will be reported independently by its clients, the report delineated the specifics of […]
With global and domestic equities rallying in the first quarter of 2019, Canadian defined benefit plan returns were lifted to 7.2 per cent in the first three months of the year, according to RBC Investor and Treasury Services’ universe of DB pension plans. This compares with a negative return of 3.5 per cent for the fourth […]
The Nova Scotia Teachers’ pension plan posted a net loss in assets for 2018, down to $4.94 billion from $5.11 billion at the end of 2017. On a going-concern basis, the plan’s funded status also dropped to 75.3 per cent, from 78.4 per cent, as at Dec. 1, 2018, according to the Teachers’ Pension Plan Trustee Inc., which […]