What do you think you have done for pension stability over the past year? JF: I suppose one of the most significant things for Canadians is the announcement that I made that we are going to permit pension splitting as of Jan. 1, 2007, and that ways and means motions have passed through the House […]
T. Rowe Price is expanding its presence in Canada and has brought Wendy Brodkin on board to spearhead the effort. Starting late this month, Brodkin will be director of the Canadian business development and client service for T. Rowe. “Through her many years of focus on institutional investors, Wendy has a uniquely attractive combination of […]
The hedge fund industry is still growing and with pension funds investing in them, there is need for greater transparency. That’s according to Gary Witt, managing director, alternative investments with Moody’s Investor Service in New York. Speaking at a CIBC Mellon breakfast seminar in Toronto, Witt estimated that global hedge fund assets under management stand […]
Winnipeg-based Great West Lifeco has agreed to acquire the asset management business of Putnam Investments Trust in the U.S. The price tag on the deal is about $4.6 billion. The deal also gives Great-West a 25% stake in T.H. Lee Partners. Great-West Lifeco has been pursuing a strategy to expand and broaden its financial services […]
A forecast for the Canadian economy and pension plans from Mercer Human Resource Consulting says investment managers expect moderate returns this year in the range of 7% to 9%. Also, oil prices are expected to end this year at about US$60/barrel, which will affect the economy as a whole here at home. As for pension […]
Standard Life is launching a product that combines target-year funds with lifecycle funds. The so-called Model Dynamic Portfolios allows plan members to select funds that are best suited to their investment mix. Assets are readjusted as members age and are rebalanced quarterly to remain aligned with the asset mix. “In the last few years, the […]
Canadian pension plans, assisted by a strong fourth quarter, earned double-digit growth for the fourth year in a row, according to a survey from RBC Dexia Investor Services. The survey shows that pension funds earned 7.2% in the fourth quarter of last year, boosting year-end performance to 12.9%. “With many of the world’s major stock […]
As the volley of bombings between Israel and Lebanon raged on in the summer of 2006, many Canadian visitors and workers in the region were left frightened and concerned as to how and when they would return to their homes—or at least a safer environment. And while the Canadian government, according to Foreign Affairs Minister […]
© Copyright 2006 Rogers Publishing Ltd. The following article first appeared in the December 2006 edition of BENEFITS CANADA magazine. Industry Q&A: A lesson from teachers In an effort to solve the underfunding problem in Newfoundland, the provincial government started with the Teachers’ Plan. We speak with Loyola Sullivan, Minister of Finance, Newfoundland and Labrador. […]
Three years ago it was about consolidation. Two years ago the industry was concerned with the Capital Accumulation Plan(CAP)Guidelines and how they would deal with compliance. But this past year the CAP industry has taken a wellneeded time out. The competitiveness that was born of consolidation is now encouraging CAP providers to streamline the way […]