Hedge funds generated almost 30% of U.S. fixed-income trading volume last year—double the 15% they accounted for in the prior 12-month period, according to a study by Greenwich Associates. In past years, the company has documented the rise of hedge funds from minor players to significant sources of liquidity in certain fixed-income products. However, the […]
Salary increases will depend more than ever on what province employers are based in, according to Morneau Sobeco’s 25th Annual Compensation and Trends Projection Survey. The average salary increase budget of Canadian employers for 2008 is 3.7%, including a provision for promotional increases. After hitting a five-year high last year, salary increases are projected to […]
Financial professionals are putting in more hours on the job than they were two years ago, says a Robert Half International report. The Working Hours: A Global Comparison report finds that forty-seven percent of Canadian finance managers say their hours have increased over the last two years. Among those, 64% say they now work an […]
Ontario will implement changes to the regulations of the Ontario Pension Benefits Act to improve flexibility in the funding requirements for defined benefit Multi-Employer Pension Plans(MEPPs), says an Eckler Special Notice. The changes allow certain MEPPs registered in Ontario to exclude consideration of any new solvency deficiencies in setting contributions based on actuarial valuations with […]
Titan Funds has chosen RBC Dexia to provide custody, fund valuation and investor recordkeeping for the company’s new proprietary mutual fund family, which was launched last month. “Our decision to work with RBC Dexia was based on their strong corporate reputation as well as their successful track record of supporting the launches and subsequent growth […]
United States Steel has made commitments with Ontario regarding Stelco’s pension plans following the announcement it would take over the steelmaker. U.S. Steel is guaranteeing the company’s pension funding obligations under a pension agreement entered into by Stelco and the province in 2006. It is also making a voluntary contribution of approximately US$31 million in […]
The Ontario Teachers’ Pension Plan has completed its purchase of interests in two Chilean water utilities. The plan has acquired 50.8% of Empresa de Servicios Sanitarios del Bio-Bio(ESSBIO)—which continues as a publicly traded company—for $356.5 million. It has also bought 100% of Aguas Nuevo Sur Maule(ANSM), a privately held company, for an undisclosed amount. Stakes […]
The Ontario Teachers’ Pension Plan will vote against Magna’s plan to sell a stake in itself to a Russian company because it is not in the best interest of shareholders. “Russian Machines will control 50% of the director appointments while owning only 20% of the equity,” says a statement on the plan’s website. “This de […]
Despite the improved long-term outlook on defined benefit(DB)pension plans, more respondents are planning changes than have made them, according to a joint report by The Conference Board of Canada and Watson Wyatt Worldwide. Its updated Findings From the 2007 Survey on Pension Risk finds that 24% of respondents intend to make a change to their […]
A growing number of workers—especially women—are choosing to collect benefits from the Canada Pension Plan/Quebec Pension Plan, according to a Statistics Canada study. However, an aging workforce means a larger proportion of older Canadians are continuing to work, some even after they begin to collect their CPP/QPP. The study, Public pensions and work, found that […]