Canada’s asset-backed commercial paper (ABCP) market has been poorly regulated and many investors do not understand the nature of the assets, but these issues are likely to change because of the recent liquidity crisis, according to experts. Speaking at the Association of Financial Professionals of Canada forum in Toronto last week, Dr. Lloyd Atkinson, the […]
The Supreme Court of Canada has ruled in favour of the $52-billion privatization of BCE, giving the Ontario Teachers’ Pension Plan-led consortium the green light to proceed with the largest-ever leveraged buyout in history. The Court’s decision was unanimous and its reasons for the decision will be released at a later date. “We are pleased […]
Plan sponsors would do well to familiarize themselves with the new legislation regarding tax-free savings accounts (TFSA) and phased retirement, according to experts.
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Federal Finance Minister Jim Flaherty delivered an upbeat assessment of Canada’s economy at the Canada Cup of Investment Management in Toronto on Friday. He said that aside from the struggling auto sector, the current American economic malaise will not be duplicated […]
While pension funds have staked a major claim in the Canadian real estate sector, pension realty corporations must be diligent in observing tax laws or risk losing the advantages they enjoy, according to a legal expert. Speaking at a seminar in Toronto on Wednesday, Chris Huband of Blakes law firm explained that many of the […]
Popular misconceptions about the risks involved with 130/30 strategies are exactly that, according to a panel from New York Life Investment Management (NYLIM). During a NYLIM web exclusive on Tuesday, Tony Elavia, chief investment officer of NYLIM’s equity investors group, outlined three popular myths about 130/30, beginning with the belief that the tracking error must […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Macquarie Financial has chosen CIBC Mellon Global Securities Services to provide asset servicing for its corporate assets. “As we grow in Canada we need a dependable asset servicing supplier,” says Grant MacKenzie, chief executive officer of Macquarie Financial. “CIBC Mellon offers […]
Defined benefit (DB) pension plans will soon be a thing of the past for the majority of Canadians, and a national summit is needed to reform the country’s retirement savings system, according to the retired president and chief executive officer of the Ontario Teachers’ Pension Plan. In his first speech as special advisor to the […]
The clock is ticking for the Ontario Teachers’ Pension Plan. Along with its plan sponsors (the Ontario Teachers’ Federation and the provincial government), Teachers’ has until September to file a balanced funding valuation with regulators—no easy task, considering the projected $12.7 billion shortfall for 2008. So what’s a large public defined benefit (DB) plan […]
Canadian pension funds helped to lift the country’s private equity market to new heights in 2007, resulting in a banner year, according to a report. McKinsey & Company’s sixth annual Private Equity Canada 2007 report outlines the year’s record-breaking activity in fundraising and investments, particularly with regard to pension funds, as well as the dramatic […]