Three experts have been appointed to review Nova Scotia’s pension benefits legislation. The province announced it would reivew its legislation in November. Bill Black, former president and CEO of Maritime Life will chair the committee. Ron Pink, an experienced labour lawyer, and Dick Crawford, former CEO of Maritime Life and former president of the Canadian […]
The Caisse de dépôt et placement du Québec bought a number of financial and retail stocks in the fourth quarter of last year. In a regulatory filing with the Securities and Exchange Commission, the pension fund disclosed it purchased 864,823 shares of Bank of America, 236,577 shares of Bank of New York Mellon, 100,501 shares […]
Health Canada has approved Cymbalta for the symptomatic relief of major depressive disorder in adults—the first new antidepressant available in several years. The net wholesale price of a 60 mg capsule of the drug is $3.56 and a 30 mg capsule is $1.78. The price is comparable to that of other branded antidepressants available in […]
T. Rowe Price is expanding its institutional investment offerings by launching the floating rate bank loan strategy. It seeks high current income with lower interest-rate risk by investing at least 80% of the portfolio in floating-rate securities, with a significant portion allocated to a sub-asset class known as “leveraged loans.” “This strategy enables investors to […]
RBC Dexia Investor Services has been chosen by Genus Capital Management to provide a full range of investor services, including global custody, fund valuations, shareholder services (transfer agency) and investment finance for the company’s $1.6 billion investment portfolio. “After undertaking a thorough review process, our leadership team concluded that RBC Dexia was the provider best-equipped […]
CIBC Mellon Global Securities Services Company has been appointed by the Halifax Herald Limited to act as the asset servicing provider for the company’s pension fund. “In CIBC Mellon, we found a partner who aligns with our philosophy of providing excellent service to clients with in-depth knowledge and experience,” says Mary Lou Croft, executive vice-president […]
The Caisse de dépôt et placement du Québec believes the proposed merger between the Toronto Stock Exchange and the Montreal Exchange offers advantages for all the parties involved and supports the deal. It came to that conclusion after examining the documents made public since the merger was announced last year and after obtaining additional information. […]
Canadians believe wait times and the shortage of doctors are the most important health issues, according to a survey. The 10th annual edition of the Health Care in Canada Survey finds that wait times (20%), doctor shortages (19%) and an aging population (8%) are the most important health issues in the country. More than half […]
The California State Teachers’ Retirement System (CalSTRS) has selected four investment management firms to construct, manage and monitor a fund of funds for its US$1.8 billion U.S. Equities Developing Manager Program. The firms chosen were San Francisco-based Bivium Capital Management, Leading Edge Investment Advisors and Progress Investment Management, as well as Capital Prospects of Stamford, […]
In the past year, employment has increased 10 times faster among older workers than younger workers, according to Statistics Canada. Its Labour Force Survey for January finds that employment among workers 55 and over has jumped 8% in the last 12 months compared to a 0.8% increase among workers aged 25 to 54. “Older workers […]