What is the attraction of market neutral investing?
While guaranteed minimum withdrawal benefit funds have been a huge hit in the Canadian marketplace, at least one company isn’t looking to gain shelf space anytime soon. “We’re not excited about gaining market share until the product is more compatible with where we’re headed,” Manulife senior executive vice-present and chief financial officer Peter Rubenovitch told […]
The near-collapse of the American financial system, and the global economic downturn it has caused, have proven the risks associated with lax corporate governance, yet many Canadian investment firms are doing little to hold management’s feet to the fire, according to a study on proxy voting. The eighth annual Key Proxy Vote Survey, conducted by […]
Neil Petroff has been appointed to succeed Robert Bertram as executive vice-president, investments and chief investment officer at the Ontario Teachers’ Pension Plan. Petroff, currently the pension fund’s group senior vice-president, investments, will take over Bertram’s job at the beginning of 2009. Bertram plans to retire at the end of the year. The official announcement […]
Every 18 months or so, those of us who do manager research at Watson Wyatt get together on a global basis to discuss new approaches and techniques that we should employ when evaluating managers, as well as discuss industry trends today and in the future. This year, our heads of research have decided to add […]
DundeeWealth has agreed to buy a 60% stake in Toronto-based institutional money manager Aurion Capital Management. Exact figures were not disclosed, but the deal involves both cash and common shares of DundeeWealth, a portion of which will be payable after three years and subject to the retention of key members of the Aurion team. Aurion […]
State Street Global Advisors has named an outsider, Scott Powers, as its new president and chief executive officer. He joins the firm from Old Mutual US, the U.S. operating unit of London-based Old Mutual plc, where he has served as CEO and one of six senior executives overseeing its worldwide operations. “We were fortunate to […]
Industry reaction to RBC’s acquisition of Vancouver’s Phillips, Hager & North continues to reverberate, with many observers noting that it appears to be a win-win situation. Last week, PH&N announced that it would be integrated into the new Wealth Management arm of RBC at a cost of 27 million RBC shares, changing Royal Bank’s position […]
Obtaining more business from the advisor channel is one of the driving forces behind the newly merged RBC Asset Management and Phillips, Hager & North, according to the two men behind the deal. On Thursday, RBC announced it would acquire PH&N by offering shareholders 27 million RBC common shares. The combined firm will manage more […]
Russell Investments Canada Limited has appointed Harris Associates, L.P. and McKinley Capital Management in the Russell global equity fund and Russell global equity pool. Coincident with these additions, Altrinsic Global Advisors, LLC will no longer be a manager in these portfolios. “We view these manager changes as a structural enhancement to the manager line-ups in […]