RBC Dexia Investor Services has been selected by Ark Fund Management Limited to provide a full range of investor services including custody, investment finance, valuations and unitholder recordkeeping for the company’s entire family of hedge and mutual funds. “We founded this company to deliver unique investment products that provide significant diversification benefits to investors,” says […]
The CPP Investment Board(CPPIB)intends to make a partial takeover offer to all shareholders of Auckland International Airport Limited(AIAL). If successful, the offer would increase CPPIB’s shareholding in AIAL to 40%, which CPPIB believes would then enable its amalgamation proposal to be put to shareholders for their consideration. “In the past few days, we have received […]
A large majority—87%—of open plans say they are likely to continue to offer a defined benefit plan in the next five to 10 years, according to survey results presented at the Park Hyatt in Toronto earlier today. The survey, Exploring New Ground: Key Global Pension Strategies for Today’s Investment Landscape, finds that within this group, […]
bfinance, an international investment consultant specialized in investment manager search has opened an office in Toronto. The London, United Kingdom-based firm specializes in the search and evaluation of investment managers for Canadian and European institutional investors and opened its first Canadian office two years ago in Montreal. In the last year, bfinance conducted 80 searches […]
Employees are nearly unanimous in their support of being automatically enrolled in their companies’ defined contribution plans, according to a study. The Retirement Made Simpler study found that 98% of U.S. adults currently enrolled in an automatic 401(k)plan agree they are glad their companies offer this savings vehicle, with 79% of them expressing strong agreement. […]
The Maple bond market has experienced explosive growth since the federal government removed foreign investment limits, according to a report. Made in Canada: The Maple Bond Market, a report by the Investment Industry Association of Canada(IIAC), finds that the expected value of Maple bonds to be issued in 2007 will exceed $40 billion—about 50% of […]
Asset values at typical U.S. defined benefit plans kept pace with rising liabilities in October, says BNY Mellon Asset Management. Driven by rising equity markets in the United States and around the world, the assets of a moderate-risk pension portfolio increased 1.7% in October, matching a similar increase in liabilities. “The U.S. stock market has […]
CIBC is selling its domestic investment banking, equities, leveraged finance and related debt capital markets businesses in the United States to Oppenheimer Holdings Inc. The transaction also includes CIBC’s Israeli investment banking and equities business, and certain parts of other U.S. capital markets-related businesses located in Asia and the United Kingdom. CIBC will retain its […]
BMO Financial Group has signed an agreement to acquire Pyrford International plc, an institutional asset manager based in the United Kingdom. Financial terms of the transaction were not disclosed. “Today’s announcement marks an important move for BMO into the international money management space as we continue to expand our internal investment management capabilities outside of […]
The Canadian Institute of Actuaries believes the Ontario government should permit the use of a pension security trust, require all defined benefit pension plans to establish and maintain a target solvency margin to enhance benefit security, along with 10 other recommendations for reversing the decline in defined benefit plans. In a presentation to the Ontario […]