Canadian fixed-income investors increased their participation in international bond markets last year, according to a study. Over the 12-month period covered by Greenwich Associates in its 2007 Canadian Fixed-Income Investors Study investors expanded their activity in maple bonds as well as in several European fixed-income instruments. “The movement into foreign bonds is not overwhelming, but […]
Co-operators Life Insurance Company has signed an agreement where NexgenRx will provide the insurance firm with use of its pharmacy benefit management as well as its health and dental claims adjudication services. In addition, Co-operators Life and NexgenRx are in the process of negotiating a strategic investment for Co-operators Life to participate in NexgenRx’s next […]
Organizations with closed defined benefit(DB)pension plans are interested in the idea of offloading the responsibility for these plans, according to a survey. Morneau Sobeco’s latest 60 Second Survey finds that amongst organizations that already have closed off their DB plans, 67% indicated that they would be interested in offloading the management of their plan to […]
Despite recent market volatility, many investment managers are still optimistic about Canadian, U.S. and overseas equities, according to a report. The Russell Investment Manager Outlook finds that bullishness towards Canadian equities has remained fairly steady at 42%. However, various sectors appear to be falling in and out of favour. Bullishness towards consumer staples rose to […]
The Financial Education Institute of Canada and the University of Western Ontario plan to work together to educate the school’s employees who are approaching retirement. “We really want to help our retirement plan members understand their investment options and make strong decisions based on their own needs,” says Martin Belanger, the university’s associate director of […]
State Street Global Alliance has acquired a minority interest in Montreal-based Sectoral Asset Management for an undisclosed amount. Sectoral specializes in managing global equity portfolios in the worldwide healthcare and pharmaceutical/biotechnology sectors. In addition to separately managed institutional accounts, Sectoral manages healthcare mutual funds on behalf of U.S. and global clients. “We are excited to […]
A subsidiary of The Ontario Teachers’ Pension Plan is selling 16.65 million units of Fording Canadian Coal Trust to Teck Cominco for $599.4 million. That works out to $36 per unit. The transaction is expected to close on Oct. 1. Following the acquisition, Teck Cominco will own approximately 19.95% of Fording. If prior to July […]
Ontario PC leader John Tory says, if elected, he will give Ontario’s retirees access to their locked-in pension income beginning at age 55. Under his plan, seniors would gain access to 50% at age 55 and the remaining 50% at age 65. “We can, and must, do more for our senior citizens,” Tory says. “This […]
Institutional investors expect the liquidity crisis in the credit market will continue to spread into other structured products, according to a survey. The Greenwich Associates survey finds that 55% of participants believe that the current credit crunch is a structural crisis while the rest see it as a short-term event. More than 45% say they […]
BCE’s shareholders have overwhelmingly approved the privatization of the firm by a group led by Ontario Teachers’ Pension Plan. More than 97% of votes cast by holders voted in favour of the deal at a special meeting this morning, greatly exceeding the required 66.7% approval. During the meeting, BCE’s chief executive officer Michael Sabia said […]