Few choices have a greater impact on the performance and overall operations of institutional pension funds than the selection of an investment consultant. A report by Greenwich Associates—Choosing the Right Investment Consultant—identifies some questions plan sponsors should answer before hiring a consultant: • “Do we need a general consultant, or do we need a firm […]
The Alberta Teachers’ Association has opposed a plan by Education Minister Ron Liepert to set up a task force on how to fix a $6.5 billion shortfall in the teachers’ pension fund. It also voted to rejected any proposal to resolve the unfunded liability that doesn’t provide equitable benefits to all teachers. A $25 million […]
The Ontario Teachers’ Pension Plan has partnered with Australia’s Victorian Funds Management Corp.—whose CIO is Leo de Bever—to buy an interest in Birmingham International Airport for $918 million. They are buying the 48.25% interest from Australia’s Macquarie Airports Group and Aer Rianta International, a subsidiary company of the Dublin Airport Authority. “This investment offers stable […]
A survey conducted by Benefits Canada found that 62% of 30-year-olds would rather be enrolled automatically in their company pension with contributions increased as their salary increases. The remainder said they wanted the option of enrolling and the choice of how much they’d like to contribute to the plan. We surveyed 500 30-year-olds across the […]
A report by CIBC World Markets says the increased participation of pension funds and private equity funds will spearhead further merger and acquisition activity in the Canadian market. “In addition to ample liquidity, the emergence of well-financed new players into the corporate market has also bolstered M&A activity,” the report says. “Today’s activity highlights the […]
Few environmental issues create as potentially significant and widespread financial threats—and opportunities—for long-term institutional investors and fiduciaries than climate change, according to a report by Innovest Strategic Value Advisors. “Since there is now growing evidence that superior environmental performance does in fact improve the risk level, profitability, and stock performance of publicly traded companies, fiduciaries […]
Private equity firm Cerberus, which struck a deal to buy a majority stake in Chrysler earlier this week, is reportedly planning on making an offer for BCE, which could lead to a three-way bidding war. The Globe and Mail reports that Cerberus is looking for a way to buy the telecom company. The newspaper says […]
The Ontario Teachers’ Pension Plan has agreed to acquire interests in two water supply, distribution and wastewater services companies in central Chile for an undisclosed amount. The plan has agreed to acquire 100% of Aguas Nuevo Sur Maule, S.A.(ANSM), a private company that is wholly owned by Southern Cross Group, a private equity firm. Teachers’ […]
Pension plan sponsors should take the opportunity to tell the provincial government what changes need to be done to keep the pension system sustainable, according to Kathryn Bush, an expert advisor on the Ontario Expert Commission on Pensions(OECP). “The key is for people to speak up,” she said today at Blake, Cassels & Graydon’s Recent […]
Morneau Sobeco has signed a deal to acquire certain assets, liabilities and contracts of the defined benefit pension administration and actuarial consulting practices of Cowan Benefits Consulting Limited for about $6 million. “This transaction is an excellent opportunity to acquire a strong and well-known practice in the Waterloo region, to grow our client base in […]