Exchange-traded funds have changed the nature of the debate between active management and passive investing. Passive investing once involved holding a broad-market index fund and comparing performance against an active manager who used the same benchmark. What essentially differentiated an actively managed fund was that it was exposed to individual stock risk, according to a […]
Online Debates: A Year in Review Part II
Evergreen results aren't pretty.
The 130/30 strategy—which utilizes leverage by underweighting (shorting) poor performing stocks and overweighting undervalued stocks—is not new to institutional investors. Hedge funds have used it for years. However, in the aftermath of the global financial crisis, the lack of transparency inherent in hedge funds has made the strategy unpalatable for many institutional investors, who have […]
Pension plan sponsors and other investors with long time horizons often rely on high allocations to equities to help them achieve their long-term return objectives. However, they may find it difficult to reconcile the volatility of equity markets with the desire to improve their liability matching. One option to address this problem is to consider […]
It’s been another tumultuous year for the capital accumulation plan (CAP) industry: pending harmonized sales tax, government reform on pensions and, lest we forget, market volatility. But through it all, the CAP industry has held up, and for that, it deserves a hats off. “It’s been a great year for the CAP industry because we’ve […]
In the wake of the market turmoil, institutional investors are left to make sense of what has fundamentally changed and to adjust their portfolios to capture opportunities while protecting their assets from another possible meltdown. In light of recent events, it’s clear that institutional investors have come to appreciate the importance of true diversification, liquidity […]
On Nov. 5, 2009, key individuals in the pension community gathered at the Fairmont Royal York hotel in Toronto for a gala event to celebrate the 3rd Annual Benefits Canada Awards. To recognize the achievements of individuals and organizations that have demonstrated leadership and innovation in the pension industry and contributed to the retirement security […]
Working Well seeks out Canada’s best and brightest employers—those who not only support, but also promote wellness in their workplace. This issue, we take a behind-the-scenes look at the wellness initiatives of Amex Bank of Canada and Amex Canada Inc. in an exclusive interview with President and CEO Denise Pickett. American Express in Canada operates […]
Critics of leveraged exchange traded products probably don’t understand how to use them properly, according to leading independent investment fund analyst Dan Hallett. “I think the first lesson is to read the prospectus thoroughly,” Hallett says. “This I think is at the core of any of the criticisms that are out there. Had investors in […]