The median age of the Canadian workforce has surpassed the 40-year mark for the first time in 2006, according to census data from Statistics Canada. Its report—Canada’s Changing Labour Force, 2006 Census—finds that the median age of the workforce rose to 41.2 years in 2006, up from 39.5 years in 2001. The median is the […]
State Street has been appointed by ING Direct Canada to provide investment services and investment management for three new Streetwise funds. State Street Global Advisors will manage four investment strategies in each of the Streetwise funds on a sub-advisory basis while State Street itself will provide custody, accounting, and fund reporting for the Streetwise funds […]
Pension funds in the United Kingdom are continuing to increase their allocation to alternative investments, such as hedge funds and real estate, says Watson Wyatt. Last year, the firm conducted 62 searches for hedge funds, with the number of fund of hedge funds mandates (27) almost tripling compared with 2006. Mandates to single-manager hedge funds […]
JPMorgan Asset Management (Canada) has launched its U.S. Large Cap 130/30 – Canada Fund, designed exclusively for Canadian pension plans. “This long/short investment approach is proving to offer higher potential for added value than long-only portfolios, while maintaining full market exposure,” according to a company statement. “With greater investment efficiency, we believe it will soon […]
The Pan-Canadian Investors Committee for Third-Party Structured ABCP said it will give noteholders more time to examine and consider the merits of the restructuring plan given the complexity of the restructuring. “As a result, a meeting of noteholders is expected to occur in mid-April, with a closing toward the end of April 2008,” it said […]
Nearly 40% of Canadians have access to employer-matched savings programs, but one out of five of them aren’t participating in such programs, according to a Sun Life Financial survey. Some of the reasons why Canadians don’t take advantage of these matching programs include: “they did not have the desire to do so,” “they did not […]
The federal government’s 2008 budget has a little something for everyone this year, including increased flexibility for locked-in pensions, an initiative to help keep older workers in the workforce, a change to the Employment Insurance program, and more investment in infrastructure. There will be increased choices available to holders of life income funds (LIFs) by […]
The directors of Auckland Airport unanimously recommends that shareholders should sell their shares into the takeover offer from the Canada Pension Plan Investment Board (CPPIB). However, directors are not unanimous on whether shareholders should vote in favour or against CPPIB acquiring up to 40% of the company. A majority of the board recommends shareholders should […]
The Co-Operators Group has reached a deal to purchase investment management firm Addenda Capital for $306.5 million. Montreal-based Addenda specializes in the active management of fixed-income portfolios, primarily for institutional clients, and has about $29 billion of assets under management. “The two companies complement each other well, and this acquisition supports The Co-Operators’ strategic goal […]
Healthcare costs in retirement are a concern for many Canadians, but few are actually taking steps to address it, according to a Sun Life Financial survey. The survey results reveal that 65% of Canadians expect they need to spend some of their retirement income on healthcare costs, but only 37% have actually saved for this […]