Institutional investors are less optimistic this month, according to a new survey by State Street. Its Investor Confidence Index shows confidence decreased by three points to 85.0 from December’s revised reading of 88.0. On a regional basis, the confidence of North American institutional investors fell slightly from 98.2 to 96.1. The confidence of European investors […]
Marks & Spencer has come up with a unique solution to reduce its £704 million(C$1.65 billion)defined benefit(DB)pension deficit. The U.K.-based retailer will contribute £500 million of value into the plan by establishing a partnership with the pension plan, which will hold the company’s properties. canadian cialis uk These properties will then be leased back to […]
Politicians and bureaucrats that make decisions on what drugs to cover in public plans have full coverage of the same drugs under their own plans, according to Canada’s Association for the Fifty Plus(CARP). The group commissioned a study comparing prescription drug coverage enjoyed by elected and public officials to public drug plans in British Columbia, […]
U.S. institutional investors continue to increase their equity ownership of American markets, according to a report by the Conference Board. At the end of 2005, institutional investors—defined as pension funds, investment companies, insurance companies, banks and foundations—suffered a brief hiatus in the trend of steadily increasing ownership during the market break of 2000-2002, but have […]
The New York City Employees’ Retirement System(NYCERS)will be the lead plaintiff in a lawsuit against Apple regarding its stock option practices. The suit alleges that the company violated securities law by backdating options to executives. The lawsuit is seeking class-action status on behalf of other Apple investors. NYCERS holds about one million shares of the […]
The number of large U.S. employers facing relatively high degrees of financial risk due to pension liabilities has declined sharply, according to a report by Watson Wyatt. “Thanks to a sound economy and considerable corporate contributions, America’s pension plans are generally on firmer financial footing than they were two years ago,” says Mark Warshawsky, the […]
The Ontario Superior Court of Justice approved a US$2.45 billion settlement that resolves lawsuits as to whether Nortel misled investors during two separate class periods. The decision follows the approval of the settlement in the two U.S. class actions last month. The Ontario Teachers’ Pension Plan Board was the lead plaintiff in one suit. In […]
The Canadian Federation of Independent Business(CFIB)is engaging in “another mean-spirited and economically illiterate attack on the public sector” by claiming that taxpayers are on the hook for a widening gap between public and private sector pension plans, says Larry Brown, secretary-treasurer of the National Union of Public and General Employees(NUPGE). In a letter to Catherine […]
Enactment of the Pension Protection Act shows that the U.S. Congress implicitly endorsed the use of behavioural economics to lead individuals to make better decisions about retirement planning, according to a report by the Employee Benefit Research Institute. Workers tend to follow the path of least resistance when it comes to retirement planning. They’ll make […]
The two largest pension funds in the United States have launched a database of emerging managers and financial service providers in an effort to boost investment returns. California State Teachers’ Retirement System(CalSTRS)and the California Public Employees’ Retirement System(CalPERS)say the Emerging Managers and other Financial Service Provider database gives plan sponsors and institutional investors exposure to […]