U.S. pension funds and endowments continue to shift assets into alternative investments and international equities and out of domestic equities, according to Greenwich Associates. Private equity investments made up 3.8% of U.S. institutional assets in 2006, up from 3.6% in 2005. Over the same period, hedge funds grew to 2.1% of total assets from 1.9%. […]
Many American workers recognize the retirement system is in the midst of a major change, but many aren’t doing anything about it, according to a survey. The 17th annual Retirement Confidence Survey, sponsored by the Employee Benefit Research Institute and Mathew Greenwald & Associates, found that among workers who have experienced reductions, nearly two out […]
Favourable investment markets have restored pension funding in Canada to the highest level in almost five years, according to Watson Wyatt. For a typical pension plan, the pension funded ratio has increased to 98% at the end of first quarter of 2007 from 86% at the beginning of 2006. Just a few years ago pension […]
Companies should begin to familiarize themselves with potential new pension disclosure rules proposed by the Canadian Securities Administrators(CSA), says a Mercer Communiqué. For defined contribution(DC)plans, the proposals require the summary compensation table to include the value of actual and notional employer contributions, plus above-market or preferential earnings credited to non-registered DC plans. A new column […]
Companies may make changes to their policies regarding employee benefits because of proposed new accounting rules, according to a Mercer web briefing earlier today. “Some organizations may be reluctant to make improvements to benefit plans as the cost of the improvement will have an immediate impact on net equity,” says Darrin Bull, a principal and […]
Great-West Lifeco’s U.S. subsidiary plans to buy a stake in a Montana-based third-party administrator of employee health plans. It will acquire an 80% interest in Benefit Management Corp, whose principal subsidiary is Allegiance Benefit Plan Management. Allegiance is the leading medical administrator for large employer groups in Montana and has the second largest overall market […]
Rising long-term interest rates and a recovering stock market helped improve the funded status of a typical U.S. pension last month, according to Mellon Financial. The funded status increased by 2.6 percentage points. “The rebounding stock market and rising interest rates put the typical U.S. pension plan back in positive territory for the year,” says […]
The Ontario Teachers’ Pension Plan is “closely monitoring developments and is exploring its options” as BCE’s largest shareholder, according to a regulatory filing. In a 13D filing with the Securities and Exchange Commission, the plan also denied media reports that it was pursuing a deal with Kohlberg Kravis Roberts & Co.(KKR)to acquire BCE. “Teachers’ is […]
CI Financial says more than 90% of the outstanding shares of Rockwater Capital have been deposited to the offer to buy the firm. Rockwater has three related businesses: KBSH Capital Management, an investment counseling and portfolio management firm; Blackmont Capital, a full-service investment dealer; and Lakeview Asset Management, a retail investment management company. Separately, Rockwater […]
Schroders has chosen RBC Dexia to provide locally-required Canadian sub-recordkeeping services for 23 of its Luxembourg investment funds. Those funds are being distributed to offshore clients through the Canadian investment dealer network. This announcement represents a geographical expansion of the previous working relationship between the two companies. In 2004, Schroders selected Dexia Fund Services to […]