Manulife Financial has teamed up with MediResources Inc and improved its Health eLinks online resource by now providing group benefits plan members with access to an online health library and a new health-risk assessment tool, among others.
“We believe our new Health eLinks resource will position us strongly in today’s market and enable us to build on our comprehensive suite of Health for Life wellness products,” says Rick Brunet, executive vice-president with Manulife Financial Group Benefits.
Marilee Mark, vice-president, marketing, with Manulife Financial Group Benefits, adds, “Our new Health Risk Assessment goes beyond others in the market place. The partnership with MediResource has allowed us to broaden the assessment to include health risk factors that are affecting productivity and benefit costs for employers today.”
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AbitibiBowater in court over pensions
According to a report in the The Globe and Mail pulp and paper manufacturer AbitibiBowater Inc. and its workers’ union are in a legal battle over pension issues.
The Communications, Energy and Paperworkers Union presented a motion in Quebec Superior Court to overturn the insolvent AbitibiBowater’s bid to suspend top-ups to some pension payments related to early retirement.
The obligation to cover the payments for about 200 employees who wish to retire at 57 would add roughly $68-million to the long-term pension shortfall and AbitibiBowater is arguing payments should be suspended until the company has restructured to avoid increasing the already heavy pension deficit.
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MD Funds Management chooses MFC Global Investment Management
MFC Global Investment Management has been selected investment advisor for the MD Dividend Fund, a mutual fund offered by MD Funds Management Inc. Funding was finalized today.
MFC is using a team approach to manage the fund, which is led by Alan Wicks, senior portfolio manager and head of the Toronto-based Large Cap Value equity team, and by Terry Carr, managing director and head of Canadian fixed income.
“The MD Dividend Fund has provided investors with an excellent source of tax-efficient income for nearly two decades,” says J. Craig Maddock, assistant vice-president, investment management, with MD Funds Management. “Preserving this performance was important and MFC Global Investment Management impressed us with their rich process and passion for investment selection. We look forward to our relationship with MFC Global Investment Management as they contribute to our clients’ investment goals.”
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CIBC Asset Management fund changes
CIBC Asset Management, the manager and trustee of the Renaissance Investments family of funds and the Frontiers Pools, is making certain changes to its product line-up.
Effective June 1, Aletheia Research and Management Inc. will be the portfolio sub-advisor of the Renaissance Global Focus Fund.
Effective July 1, Metropolitan West Capital Management, LLC will be the new portfolio sub-advisor for the Renaissance U.S. Equity Value Fund and to the Frontiers U.S. Equity Pool. Fiduciary Management Inc. will take over as portfolio sub-advisor for the pool’s small-cap component. These changes will also affect Axiom Portfolios.
Lastly, the Renaissance Global Multi Management Fund will be renamed the Renaissance Optimal Global Equity Portfolio. This change will also take effect on July 1.