A new report says investment managers in Canada are more bullish on all equity asset classes this quarter. The latest Russell Investment Manager Outlook shows bullishness for the broad market increased 13 percentage points to 48% and bullishness for Canadian small caps rose 22 percentage points to 45%. Despite the increasingly positive outlook, 52% of […]
Bell Canada plans to eliminate supplemental health benefits for future retirees over the next decade. Starting in 2012, new retirees over the age of 55 will not receive benefits. However, pensioners will still get medical coverage until they turn 65. Employees who retire after 2017 will not receive company-paid health benefits, but will have the […]
The U.S. asset management industry is on the brink of revolutionary change as plan sponsors look beyond their focus on asset growth and investment management returns to strategies for funding pension liabilities, says a study by Greenwich Associates. According to results of the 2006 U.S. Investment Management Research Study, the popularity of strategies such as […]
A consortium including Teachers’ Private Capital and CCMP Capital is buying Telecom Corporation of New Zealand’s Yellow Pages Group for $1.86 billion. The deal is expected to close by the end of April. New Zealand’s Yellow Pages Group has annual revenue of $208 million and more than 600 employees. It prints and distributes more than […]
The Ontario Teachers’ Pension Plan says its net assets increased to $106 billion last year, up from $96.1 billion in 2005. The pension plan’s one-year rate of return was 13.2%, compared to its 9.4% composite benchmark. Its asset mix was 46% equities, 34% inflation sensitive(including commodities, real estate, real-return bonds, infrastructure and timber)and 20% fixed […]
The increase in healthcare cost trends is stabilizing, according to a survey by ACS/Buck. The rise in the trend has stayed relatively flat for the last two years when all components of the health plan are blended, based on an expected spend allocated as follows: 65% drugs, 20% medical, 10% hospital, and 5% vision care. […]
The Ontario government plans to cut small business taxes by $540 million over the next seven years to help offset the increase in the minimum wage. The province intends to increase the minimum wage by 75 cents a year over three years beginning March 31, 2008. It will rise to $10.25 an hour, up from […]
The Manitoba government plans to borrow $1.5 billion to fund 75% of the province’s unfunded liability for the Teachers’ Retirement Allowances Fund. Hewitt Associates was asked by the province to provide independent advice on the impact to Manitoba of accelerating the funding of its pension obligations. Projection of the province’s pension costs for the next […]
A new survey shows 53% of defined benefit(DB)plan sponsors will make significant changes to their Canadian equity allocations over the next couple years. The most significant planned increases were with international equities, according to the MFC Global Investment Management survey. One-third of plans intend to hike their international(excluding U.S.)equity allocation over the next two years. […]
The Alberta government will move its investment operations into a provincial corporation under new legislation. The newly named Alberta Investment Management Corporation is expected to have improved organizational governance, increased flexibility and opportunities for greater investment returns for Alberta’s savings, public sector pensions and other funds. Bill 22 proposes the separation of the Investment Management […]