The Caisse de dépôt et placement du Québec plans to adjust its investment strategy to cope with the global credit crisis whose scope and effects are still uncertain. “This uncertainty has prompted the Caisse to manage with strategies that emphasize caution, preservation of capital and risk reduction,” says Richard Guay, the pension fund’s president and […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Canada’s five leading financial institutions lowered their prime lending rates by 35 basis points to 4% on Tuesday. TD Canada Trust was the first to announce the rate cut, followed by CIBC, BMO, Scotiabank and RBC. “TD Canada Trust’s decision to […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Sun Life Financial posted a loss of C$396 million on writedowns tied to failed U.S. banks including Lehman Brothers, AIG and Washington Mutual. “Unprecedented events in the global financial sector characterized the third quarter and significantly impacted our results,” said chief […]
Other World Views this week:| MON | TUE | WED | THU | FRI | The Dutch government has announced that it will inject €10 billion (CDN$15.8 billion) into ING Groep in exchange for an 8.5% stake in the company, after projected third-quarter losses drove the stock to a 13-year low. The move follows a […]
Other World Views this week:| MON | TUE | WED | THU | FRI | The pension surpluses of 2007 may have been wiped out by recent market turmoil, but pension schemes should be able to continue paying their accrued benefits, according to Mercer’s U.K. office. However, this is dependent on the sponsoring employer remaining […]
The current economic crisis has called into question the adequacy of the global financial system, and only a complete re-think of financial rules and institutions will protect the markets from an eventual repeat, according to an expert. Speaking at Toronto’s Design Exchange on Monday, former U.S. Treasury secretary Robert Rubin said the current volatile environment […]
Short selling, the origins of the current financial crisis, and the role of hedge funds were all on the menu at the Alternative Investment Management Association’s luncheon at the Toronto Hilton on Tuesday. An expert panel consisting of David Picton, president of Picton Mahoney Asset Management, Eric Sprott, CEO of Sprott Asset Management, and Peter […]
In a difficult economic environment, Canadian pension plan sponsors are willing to sacrifice higher returns for stability. The U.S. credit crunch and resulting market uncertainty is taking its toll on pension plans. A recent global poll conducted by SEI indicates that the majority of Canadian plan sponsors favour controlling volatility over increasing returns. In fact, […]
With the noteholder vote just days away, Purdy Crawford, chair of the Pan-Canadian Investors Committee, answered questions on the proposed restructuring of the Canadian third-party structured asset-backed commercial paper (ABCP) at a Toronto CFA Society luncheon Tuesday. Francesca Guolo, partner at Goodmans LLP and Andrew Kresse, managing director, global structured solutions, with JPMorgan Securities, rounded […]
Looking at the performance of global property investments, it really is all about location, location. A recent breakfast seminar in Toronto, hosted by ABN AMRO Asset Management and presented by Nancy Holland, global head of property, examined the past performance of global property and offered an outlook for the future. The presentation showed that performance […]