The Canada Pension Plan Investment Board is acquiring a US$1.3 billion stake in LifeArc’s royalty interests on worldwide sales of immunotherapy drug Keytruda through its European credit group. The drug, which is intended to help the body fight certain forms of cancer, was developed by Merck Sharp & Dohme Corp. and has been approved in 85 countries. […]
Fiera Capital Corp. is acquiring Foresters Life Insurance Co.’s asset management business in an effort to beef up its offering for institutional clients, according to Jean-Philippe Lemay, Fiera’s president and chief operating officer. Montreal-based Fiera will buy Foresters Asset Management Inc., Foresters’ Toronto-based investment management subsidiary that’s focused on institutional and insurance liability-driven investment. The terms […]
The Canada Pension Plan fund ended its fiscal year on March 31, 2019, with net assets of $392 billion, compared to $356.1 billion at the end of fiscal year 2018. The $35.9 billion increase was made up of $32 billion in net income and $3.9 billion in net CPP contributions. Overall, the fund’s return for the year […]
While defined benefit plans are traditionally known for their paternalism, defined contribution pensions represent the next generation. Learning from their parents’ years of investment experience, DC plans are catching up, but hurdles still exist in the quest to invest like DB plans. The liquidity question As more DC plan sponsors consider adding illiquid alternatives to […]
As factor and multi-factor investing become more commonly understood investment styles, different strategies can help mitigate specific risks in choppier markets. “Nobody wants to hear about risk until it’s too late,” said Carlos Phillips, vice-president and director at TD Asset Management Inc., at an event hosted by the firm in Toronto on Tuesday. A significant […]
With global equities rebounding after a volatile end to 2018, Canadian defined benefit pension plans posted positive returns in the first quarter of 2019, according to new data by Northern Trust Corp. The Northern Trust Canada Universe, which tracks the performance of Canadian institutional investment plans using the firm’s asset servicing offerings, found Canadian plans posted a median […]
After starting to manage funds for its first two clients, the Ontario Pension Board and the province’s Workplace Safety and Insurance Board, the Investment Management Corp. of Ontario has released its 2018 annual report outlining its progress. Though the investment results of its activities will be reported independently by its clients, the report delineated the specifics of […]
With global and domestic equities rallying in the first quarter of 2019, Canadian defined benefit plan returns were lifted to 7.2 per cent in the first three months of the year, according to RBC Investor and Treasury Services’ universe of DB pension plans. This compares with a negative return of 3.5 per cent for the fourth […]
The Nova Scotia Teachers’ pension plan posted a net loss in assets for 2018, down to $4.94 billion from $5.11 billion at the end of 2017. On a going-concern basis, the plan’s funded status also dropped to 75.3 per cent, from 78.4 per cent, as at Dec. 1, 2018, according to the Teachers’ Pension Plan Trustee Inc., which […]
Amid the growing popularity of incorporating environmental, social and governance factors in investing, a Dutch pension fund is partnering with index-provider FTSE Russell to design a custom passive index that incorporates some of the United Nations’ sustainable development goals. Pensioenfonds Detailhandel has been incorporating ESG principles for almost five years, says Henk Groot, head of investments […]