Canada is moving towards a two-tier retirement system, says Catherine Swift, president of the Canadian Federation of Independent Business(CFIB). A paper released by the organization, called Canada’s Pension Predicament, says the gap between public and private sector pension plans is widening. She says: “those of us who work in the private sector will not have […]
Public Sector Pension Investment Board(PSPIB)has extended its takeover bid for Retirement Residences Real Estate Investment Trust. So far, 89.3% of the trust’s units have been tendered to the offer. The bid, which was set to expire yesterday, has been extended until January 26. PSPIB made the $2.8 billion offer for the REIT in October 2006. […]
A new group called the Canadian Association of Income Trust Investors(CAITI)is being formed to try and stop income trusts from being taxed. The group—which includes CI Investments, Dynamic Funds, PricewaterhouseCoopers, the Coalition of Canadian Energy Trusts, and others—hopes to preserve the ongoing viability and sustainability of the Canadian income trust market. CAITI’s creation comes as […]
Colin Ripsman, who joined Mercer Investment Consulting in 1991, has left to join Fidelity. His last day at Mercer was on Friday. He was formerly a principal and the company’s Canadian head of DC consulting. Ripsman has a BA in commerce and economics from the University of Toronto, an LLB from Osgoode Hall Law School […]
Pension fund assets under management increased 9% in 2005 to reach a new high of US$18.6 trillion, according to a report by International Financial Services Limited. Since 2001, assets have jumped 37%. “Steady growth in assets has been based on expansion in funding aided by pension reform and a recovery in equity markets,” states the […]
A majority of private sector, pension fund trustees are giving complete discretion for proxy votes to the firms that manage their funds, according to a survey by the Shareholder Association for Research and Education(SHARE). Investment managers and proxy-voting services that have Canadian pension funds as clients were surveyed. The 34 firms manage $371.6 billion in […]
The Canadian Securities Administrators is proposing that hedge fund managers be required to register through the Registration Reform Project. The registration requirements for fund managers would focus on ensuring that they: -have the resources to carry out their functions, or to properly supervise the functions if they are contracted to a third party, and to […]
Goldman Sachs Capital Partners may ask some of the country’s largest pension funds to help purchase Alliance Atlantis assets to avoid regulatory issues, according to a newspaper report. CanWest and Goldman’s private-equity division, GS Capital Partners, announced the acquisition last week. GS Capital Partners is looking for outside investors because it will own the majority […]
The Ontario Teachers’ Pension Plan(OTPP)has completed its purchase of three of the four marine container terminals from Hong Kong’s Orient Overseas(International)Limited. The acquisition of the two terminals in the Vancouver-area and one in New Jersey have been completed. The New York Container Terminal purchase is expected to close before the middle of the year. The […]
About 500,000 Canadian workers experience depression and most of them say the symptoms interfere with their ability to work, according to a study by Statistics Canada. About 500,000 Canadian workers experience depression and most of them say the symptoms interfere with their ability to work, according to a study by Statistics Canada. Nearly eight out […]