Although the second quarter of 2013 was challenging, with the S&P/TSX Composite Index falling by 4.1%, most large cap active investment managers in Canada added value and beat the benchmark, according to the Russell Canadian Active Manager Report.
The British Columbia Investment Management Corp. produced a 9.5% return for the year ending March 31, 2013, due to strong results from its public equities and real estate portfolio.
Industrial Alliance has signed a deal to acquire Jovian Capital for $94 million.
Robert McKim and Marquest Asset Management have completed the purchase of the operating assets of Seamark Asset Management.
Connor Clark & Lunn Financial Group has entered into an agreement to sell its structured products business Connor Clark & Lunn Capital Markets to Aston Hill Financial for cash proceeds that imply a total value for the company of $20.5 million.
If the United States Federal Reserve implements a quantitative easing stimulus program, this would pose the biggest threat to the stock market over the next six months, according to a Northern Trust survey.
Financial executives around the world face numerous growth, regulatory and staffing challenges but remain confident about their prospects, according to a report by Robert Half, a U.S.-based staffing firm.
Worldwide assets top US$62 trillion.
Investment managers in the United States are concerned about regulatory uncertainty, but indicate that revenue and hiring are on the rise, according to KPMG’s 2013 Investment Management Business Outlook Survey.
After four years of stalled growth, money managers’ assets under management (AUM) worldwide rose to a high of US$62.4 trillion in 2012— topping the 2007 record of $57.2 trillion.