Guardian Capital Group Ltd. is acquiring U.S.-based asset manager Sterling Capital Management from Truist Financial Corp. The financial terms of the transaction include a payment of US$70 million on closing to purchase 100 per cent of the equity capital of Sterling, according to a press release, which noted the acquisition is expected to close in […]
U.S. institutional investors paid $1.5 billion in management fees in 2022, according to a new report by investment consulting firm Callan. The report, which analyzed mandates by more than 300 investment firms and more than 180 institutional investors, found 98 per cent of the total fees paid in 2022 went to active managers, up one per cent […]
The Canadian pension assets under management of the country’s top 40 investment managers increased by 7.7 percentage points over the previous year, from nearly $989 million at June 30, 2022 to more than $1 billion at June 30, 2023, according to the latest report by the Canadian Institutional Investment Network. The CIIN, which is a […]
The Caisse de dépôt et placement du Québec is aiming to more than double the size of the assets it entrusts to Quebec external managers to as much as $8 billion by 2028. The decision is part of an overall goal of reaching $100 billion in Quebec-based investments by 2026, according to a press release. The Caisse renewed […]
When investing in external asset managers, pension funds are really investing in teams of people, according to Brandon Gill New, director and head of multi-strategy investing and digital assets at the OPSEU Pension Trust, speaking during the Canadian Investment Review‘s 2023 Global Investment Conference. “It’s not like buying a stock or a bond,” she said, […]
Franklin Templeton is entering into a definitive agreement to acquire Putnam Investments from Great-West Lifeco Inc. for about US$925 million. As part of the agreement, Great-West will become a long-term strategic shareholder in Franklin Resources Inc. — Franklin Templeton’s parent company — with a 6.2 per cent stake. In addition, Great-West will will provide an initial long-term […]
Large and small, pension plan sponsors are adopting in-house tools, partnering with technology research institutes or relying on investment managers for technological support with asset allocation, risk management and other aspects of investment management. The growing interest coincides with an increasingly complex investment, demographic and regulatory landscape. A 2020 Deloitte report on the importance of […]
As greater numbers of defined contribution pension plan members ask for environmental, social and governance-friendly investment options, plan sponsors will need to grapple with how to implement these solutions into their target-date funds. “From some studies that we’ve done, there’s definitely investor demand,” said Michael Greenberg, senior vice-president and portfolio manager at Franklin Templeton Investment Solutions, […]
The University Pension Plan has selected CIBC Mellon to provide asset servicing, investment operations and plan member services, including custody, institutional accounting, performance and analytics, risk, compliance and pension benefit payment services. The jointly sponsored pension plan, which was launched on July 1, currently covers employees at Queen’s University, the University of Guelph and the University of Toronto, with […]
Investment management is an unusual business in that it doesn’t typically offer customers their money back if they’re unsatisfied with the product or service. This seems strange given how easily and objectively we can measure value added or destroyed. Of course, demanding a refund for poor investment performance may be more complicated than returning a […]