For the first time since the Financial Services Commission of Ontario began monitoring defined benefit pension solvency in 2009, the province’s DB plans posted a median solvency ratio above 100 per cent in the third quarter of 2018. As of Sept. 30, the solvency ratio reached 101 per cent, up from 97 per cent the previous quarter. […]
Ryan Labs Asset Management Inc., a Sun Life Investment Management company, has signed on to the United Nations-supported principles for responsible investment. As a network of independent investment professionals, signatories of the PRI are proponents of responsible investing. Read: Survey finds larger asset managers more likely to dedicate resources to ESG “Becoming a signatory of the […]
Almost three-quarters (73 per cent) of global institutional investors expect new technologies to reshape the industry by 2025, according to a new survey by Fidelity Investments Inc. The survey, which polled more than 900 institutional investors in 25 countries, found 80 per cent of respondents expect blockchain and related technologies to fundamentally change the industry, while 62 per cent […]
Mercer and Morningstar Inc. are teaming up to create a digital platform for institutional investment manager data, performance analytics and qualitative research. “Investors and their advisors do not have comprehensive resources for institutional strategies research and data,”said Rich Nuzum, global president of Mercer’s wealth business, in a press release. “Working together with Morningstar, we can give investors and […]
Manulife Financial Corp. has appointed Pamela Kimmet to the role of chief human resources officer, effective Oct. 1. Kimmet most recently served as chief HR officer for Cardinal Health Inc. Previously, she led HR at Coca-Cola Ltd., Bear Stearns Companies Inc. and Lucent Technologies Inc., and held strategic HR positions at Citigroup Inc. and General Motors Co. She has also […]
A group of financial institutions, including the OPSEU Pension Trust, is launching a climate-focused pilot project that will map potential future climate impacts on investment performance. The project aims to integrate quantified risks associated with climate change into standard, forward-looking financial scenarios that drive strategic investment decision-making, according to a press release. The investors involved will use […]
The British Columbia Investment Management Corp. is reporting a nine per cent return for the fiscal year ending Mar. 31, 2018, a slight drop from its 12.4 per cent return in the previous year. The return generated $1.9 billion in added value, bringing the organization’s assets under management to $145.6 billion. It also increased its internally managed assets to […]
Cambridge Associates is adding Jasmine Richards as senior investment director and manager of diversity. The role, based in Boston, will involve leading the firm’s search to identify institutional-quality investment managers, in all public and private asset classes, helmed by diverse leaders, in particular women and people of colour, according to a press release. “We believe that strong investment performance […]
TD Bank Group is acquiring Greystone Capital Management Inc., the parent company of Greystone Managed Investments Inc., for $792 million. The agreement, which is subject to regulatory approval, comprises $730 million of enterprise value, about $105 million of seed capital and other net adjustments. Greystone Capital Management’s shareholders will receive 30 per cent of the net […]
Pension plans are very familiar with working with outside asset managers, but the Montreal-based Walter Group of companies wants to give them the opportunity to invest in the asset management business as well. “This opportunity is unique for institutional investors,” says Rene Fournier, president and chief investment officer of Walter Financial Inc. With its new fund, […]