Canada’s defined benefit pension plans increased their solvency levels in 2019 and have equity markets to thank, according to Mercer. The Mercer pension health index, which represents the solvency of a hypothetical plan, increased to 112 per cent in the final quarter of the year, up from 105 per cent at the end of the […]
Shareholder environmental activism has been growing in popularity with institutional investors, but is it working? The New York City pension system implemented a boardroom accountability project in 2014, with the intent of improving the sustainability characteristics of its portfolio companies. And, according to a new paper, results show firms targeted by the boardroom accountability project’s […]
The Swedish word “tack” translates to “thank you,” which is precisely what IKEA is saying to employees with its Tack! loyalty program. In Canada, the program operates as a deferred profit-sharing plan and is part of employees’ total rewards package. “The [program] was launched in 2013 based on the wish of IKEA founder Ingvar Kamprad […]
As private equity becomes a more sizeable part of Canadian pension portfolios, the British Columbia Investment Management Corp.’s resources and staffing are growing with it. In April 2016, when Jim Pittman joined the BCI as its senior vice-president of private equity, his group comprised six or seven people. Three and a half years later, the […]
MSCI Inc. is awarding emerging market status to the MSCI Kuwait Indexes as the country’s equity market now meets the required criteria for reclassification. The reclassification will be part of the MSCI’s May 2020 semi-annual review. In late October, the Kuwait Capital Market Authority resolved to amend certain provisions of the executive bylaws and rules […]
In 2009, the Air Canada pension plan was in dire straits with a $2.6 billion solvency deficit. A decade later, it has a surplus of more than $2 billion. The complete turnaround is in part due to a new investment team that joined in 2009 and transformed the pension fund’s investments. With the $21 billion […]
A majority (59 per cent) of global institutional investors said they’re dissatisfied with publicly traded companies’ climate-related disclosures, according to a new survey by the Global Sustainable Investment Alliance. The survey, which polled investors in Australia, Canada, Europe, Japan, the United Kingdom and United States, found 40 per cent of respondents described themselves as somewhat […]
Heading into 2020, institutional investors are eyeing the disconnect between gloomy macroeconomic indicators and strong equity market performance. Leading indications in both North American and European economies have been trending down all year, with global gross domestic product growth forecasts in a slump, said Alec Young, managing director of global markets research at FTSE Russell, during a […]
Japanification is a term describing the spread of low growth and low inflation around the world. Speaking at the Canadian Investment Review’s 2019 Defined Benefit Investment Forum in Toronto on Dec. 6, Charles Lannon, head of equities at Cidel Asset Management Inc., discussed whether Europe and the United States are destined for a similar fate […]
Two questions seem to occupy pundits and popular media these days. One is why interest rates are negative and what this means. The other is whether value investing is dead. Answering the first question provides useful insights in dealing with the second question. Negative interest rates on government bonds are observed in Europe and Japan, […]