Canada’s economy is famously reliant on its rich natural resources, with a heaping helping of financial service providers thrown in for good measure. But when oil companies, mining outfits or Canadian banks are deciding how to invest the capital in their pension funds, does it make sense to steer clear of exposures that directly correlate […]
It’s been five years since Lehman Brothers filed for bankruptcy, which sped up the severity of the financial crisis and sent markets into a tailspin. Canada’s Top 40 money managers are trying to help pension plan sponsors adjust to a new environment.
It’s a promise that’s getting harder to keep. Sponsors of Canada’s DB pension plans are struggling against formidable odds to keep the pension promise alive for members, retirees and future members as equity markets roil and interest rates remain depressingly low in the wake of the 2008 financial crisis.
Canadian money managers have had a lot to deal with over the past five years, such as the global financial crisis and recessions in most of the developed world. In this online-only story, we look back at the themes we covered from 2008 and on.
When Claude Lamoureux first started at the Ontario Teachers’ Pension Plan in 1990, the organization had just hired Mercer’s Malcolm Hamilton to be the board’s actuary. “The first week I was there, he was scheduled to give an introductory talk. I thought I would get caught up on my reading during this boring actuary’s presentation,” he recalls. “After the first few minutes, I thought, Wow, this guy isn’t a traditional consultant. We’re going to have a lot of fun together.”
Last night, the investment industry celebrated its successes as more than 120 people gathered at Toronto’s Brassaii Café Restaurant Lounge for Benefits Canada’s Top 40 Money Manager Awards cocktail party.