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Franklin Templeton acquiring Legg Mason and affiliates

Franklin Resources Inc., operating as Franklin Templeton, is acquiring investment management company Legg Mason Inc. The all-cash deal priced Legg Mason’s common shares at US$50. As part of the transaction, Franklin Templeton will assume the manager’s outstanding debt of about US$2 billion. Legg Mason and its multiple affiliates collectively manage about $806 billion, including Brandywine Global, Clarion Partners, […]

  • February 19, 2020 November 12, 2020
  • 15:30

Saint John Airport workers joining CAAT’s DBplus

Unionized workers at Saint John Airport are joining the Colleges of Applied Arts and Technology pension plan’s DBplus. According to the Public Service Alliance of Canada, the New Brunswick-based airport workers were previously in a defined contribution plan, but returning to a DB plan was a “core demand” for the 25-member bargaining unit. “The message we’re sending […]

  • February 19, 2020 November 12, 2020
  • 09:30

PIAC calls on Manitoba to enable target-benefit plans

While the Pension Investment Association of Canada is applauding proposed changes to Manitoba’s Pension Benefits Act that would allow for in-plan solvency reserve accounts for defined benefit pension plans, it’s calling on the province to make further reforms. In a letter to Manitoba’s Finance Minister Scott Fielding, the PIAC said the suggested amendments, which were introduced in November […]

  • February 18, 2020 November 30, 2020
  • 15:30

Caisse adds to Cirque de Soleil investment, converts Bombardier shares to Alstom

The Caisse de dépôt et placement du Québec is boosting its current investment in the Cirque du Soleil Entertainment Group. The investment, which will see the Caisse buy shares currently owned by the company’s founder Guy Laliberté, bring its holdings to nearly 20 per cent. Laliberté will remain creatively involved in the company and will retain certain economic […]

  • February 18, 2020 November 11, 2020
  • 15:00

UTAM joins institutional investors calling on aviation sector to address climate change

The University of Toronto Asset Management Corp. is teaming up with more than 120 institutional investors to call on the aviation sector to confront the issue of climate change-related risks and opportunities. The UTAM signed a statement from the United Nations’ Principles for Responsible Investment, which lays out investors’ expectations on climate change for the sector. […]

  • February 18, 2020 November 12, 2020
  • 09:15

CPPIB assets reach more than $420 billion in fiscal Q3

The Canada Pension Plan Investment Board generated a net income of $14.5 billion for its third fiscal quarter, rounding out a 7.1 per cent return for the nine months of its fiscal year so far. With $3.6 billion in net Canada Pension Plan outflows for the quarter, which ended Dec. 31, 2019, the fund saw a total […]

  • February 18, 2020 November 12, 2020
  • 09:00

Western Forest Products, union reach tentative deal after tensions over LTD benefits, pension

Western Forest Products and the United Steelworkers union have reached a tentative collective agreement after more than seven months of tensions over pensions and long-term disability benefits. About 3,000 of the Vancouver-based lumber company’s employees walked off the job on July 1, 2019. In November, the company dropped it’s proposal to implement pension plan alternatives to which the union […]

  • February 14, 2020 November 12, 2020
  • 09:10

Canadian DB plans return 14% for 2019: RBC

Canadian defined benefit pension plans posted an average return of 14 per cent in 2019, according to RBC Investor and Treasury Services’ universe. The double-digit returns were the second highest for DB plans in the past decade, bolstered by a surge in equity markets both domestically and around the world. “Over the past 10 years, […]

  • February 14, 2020 November 12, 2020
  • 09:07

Do workers delaying retirement feel financially trapped?

Should I stay or should I go? That’s the question employees are asking regarding their retirement, but they’re getting mixed answers from their employers. In a survey by MetLife Inc., half (55 per cent) of U.S. employers said they’d prefer older workers to retire to make room for the advancement of younger employees. The other 45 […]

  • February 14, 2020 November 30, 2020
  • 09:05

BCI makes credit agreement, CPPIB ups allocation to U.S. logistics firm

The British Columbia Investment Management Corp. is making a credit agreement with Knightsbridge Capital Group, an asset-based lender in Vancouver. “As BCI builds out our direct lending business for our clients, we value working with successful local businesses such as Knightsbridge Capital Group,” said Chris Beauchemin, vice-president of fixed income and foreign exchange at BCI. […]

  • February 14, 2020 November 11, 2020
  • 09:00