The median value of accumulated pension benefits for chief executives running companies in the S&P 500 rose to US$6.1 million in 2007, according to a study by executive compensation research firm Equilar. The increase was a 29.5% jump from 2006’s median value of $4.7 million. The prevalence of chief executives with accumulated pension benefits was […]
The government of New Zealand has rejected the Canada Pension Plan Investment’s Board offer for a minority stake in Auckland International Airport Limited, saying the bid would not benefit the country. “Under the Overseas Investment Act 2005, ministers are required to decline consent if they are not satisfied that all of the applicable criteria are […]
Investors should accept responsibility for understanding and managing the credit risk in their portfolios, said David Longworth, the Bank of Canada’s deputy governor on Thursday. In a speech at the Global Investment Conference in Lake Louise, Alta.—sponsored by Benefits Canada sister publication, Canadian Investment Review—he said markets work best when relevant information is available to […]
The Alberta/British Columbia Joint Expert Panel on Pension Standards has released the submissions it has received on its website. A total of 116 submissions were received by the panel, which are now being reviewed and it may choose to consult further with some submitters. The panel is having consultation meetings until the end of June […]
Industry Canada has approved the proposed acquisition of BCE by an investor group led by the Ontario Teachers’ Pension Plan. The group agreed to numerous conditions to ensure that the telecom company is not controlled by non-Canadians. In a letter to BCE, Industry Minister Jim Prentice says that “Industry Canada finds that BCE Inc. would […]
Canada Post’s pension plan earned a return of 2.1% last year, exceeding the benchmark return of 0.9%. “Financial markets continue to exhibit unusual volatility, as we work our way through the credit issues facing us,” says Douglas Greaves, vice-president, pension fund and chief investment officer. “We are pleased that despite this uncertainty the plan continues […]
The financial health of Canadian pension plans declined in the first quarter of the year to levels not seen since the middle of 2005, according to the Mercer Pension Health Index. The index, which measures the solvency funded status of plans, fell to 77% at the end of March, down from 82% at the end […]
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 […]
The Ontario Teachers’ Pension Plan purchased or increased its stake in a number of telecom companies last year, according to its 2007 annual report. The plan bought 8 million more shares of BCE—which it plans to take private—to hold 50.8 million shares, valued at approximately $2.03 billion at the end of last year. Out of […]
Genus Capital Management has launched its Canadian 130/30 equity strategy, which is designed to extract greater returns from the firm’s existing quantitative equity management processes. “We launched our 130/30 in response to institutional demand and because it’s a natural extension of our proven alpha-generating process,” says the firm’s CEO and chief investment officer, Wayne Wachell. […]