Growing demand for Mercer’s responsible investment (RI) consulting services has led to the appointment of six new specialists, including two in Canada. Jordan Berger joins the team in Toronto as head of RI for this country. He has spent the last 10 years working with the Ontario Public Service Employees Union (OPSEU) where he worked […]
A dozen Alberta school boards still need to have collective agreements in place by the end of January before a tentative pension deal between the province and the Alberta Teachers’ Association can be ratified. The province has agreed to cover $2.1 billion of the teachers’ unfunded pension liability in return for five years without strikes. […]
The California Public Employees’ Retirement System (CalPERS) has purchased a minority stake in private equity firm Silver Lake. Under the agreement, CalPERS has acquired a 9.9% stake in Silver Lake Group and related entities that own and direct Silver Lake and oversee all of its investment activities. “The CalPERS investment and strategic partnership with us […]
RBC Dexia Investor Services has been voted the “Top-Rated” global custodian in Europe for 2007 by Global Custodian magazine. “On behalf of our entire team, we are absolutely delighted that our clients have named us Europe’s top global custodian for the second consecutive year,” said Joanna Meager, managing director, U.K. for RBC Dexia. “We sincerely […]
Any losses the Caisse de dépôt et placement du Québec might have to take on its investment in asset-backed commercial paper (ABCP) won’t have an effect on the province’s finances, according to Fitch Ratings. “Based on information to date, Fitch anticipates little risk of ultimate losses in Caisse’s investment portfolio having a negative impact on […]
Despite recent weakness in the Canadian equity markets, pension plan funded ratios have posted a significant net improvement last year, according Watson Wyatt. The funded ratio of the typical pension plan has climbed to 106% at the end of December, on a Generally Accepted Accounting Principles (GAAP) corporate accounting basis. The funded ratio of the […]
As Generation Y enters the workforce, employers should be willing to be more flexible and treat those workers differently. “Gen Y has created a need for cultural overhaul that has not been this dramatic since women entered the workforce en mass,” says Jenny Floren, CEO of career services firm Experience Inc. Employers are getting more […]
Investment managers expect equity returns to be modest this year, according to Mercer’s 2008 Fearless Forecast survey. As the Toronto Stock Exchange has generated double-digit annualized returns during the past five years, managers predict the Canadian equity market will produce a return of 6% this year. Better returns are expected to come from international and […]
The California State Teachers’ Retirement System (CalSTRS) and First Industrial Realty Trust have set up a joint venture to invest in industrial real estate across Canada. The new venture will invest approximately US$285 million. CalSTRS has agreed to initially contribute up to $90 million while First Industrial will initially contribute up to $10 million. Investments […]
The market for initial public offerings (IPOs) in Canada last year was the weakest since 2001 due to market volatility, uncertainty in the credit markets and no income trust offerings, according to a survey by PricewaterhouseCoopers. In all, 90 IPOs made it to the TSX and TSX Venture exchanges for a combined value of $3.4 […]