Sun Life has announced it is entering the mutual fund business, based on the investment teams already in place at its U.S.-based asset manager, MFS Investment Management. “We are expanding our wealth business in Canada by bringing more choices and innovative products to retail investors,” said Kevin Dougherty, president, Sun Life Financial Canada and president, […]
While a complete overhaul of the retirement funding system is still a long way off, Bill C-9 Amendments to the Income Tax Act and related acts and regulations is winding its way through Parliament. The bill is largely a budget implementation measure, but it includes several amendments to the Pension Benefit Standards Act. In this […]
The global economic recovery is well underway, but there remain significant threats to growth, according to economists at TD Financial Group. The primary drivers of the recovery have been resurgent growth in emerging markets and stimulative policy measures in more developed countries. “Initially, central banks and governments responded to the financial crisis like a trauma […]
For most retirees looking for a helping hand from the federal budget on Thursday, there was only one piece of good news: they likely won’t have to cope with any complex changes to their finances. In the spirit of belt-tightening, federal Finance Minister Jim Flaherty had few bones to throw to seniors. Aside from a […]
As Canadians approach retirement, they are generally expected to ratchet down the risk level of their portfolios. But a recent survey suggests that the market crash of 2008-2009 has scared many pre-retirees into positions that are far too conservative. According to a survey by Ipsos Reid, Canadians over the age of 50 are holding 25% […]
Retirement funding is a complex machine, with several moving parts. For many Canadians employer pensions and government benefits will make up the core of their retirement income. A recent RBC survey found 54% of Canadians expect their pension will be the largest source of income, but when asked what kind of pension they have, 19% […]
Investment managers need to find simplified language in dealing with pension plan trustees, as these key decision makers often lack the vocabulary required to understand complex financial concepts. “The reality of trying to talk about investment strategy is that the decision makers are trustees,” said Dr. Marlene Puffer, managing director of Twist Financial, speaking at […]
Regulators have released details of settlements reached over the 2007 collapse of the asset backed commercial paper market. Seven securities firms have agreed to pay a total of $138.8 million in administrative penalties and investigation costs. The probe centered on the distribution of ABCP issued by Coventree, and was a joint effort undertaken by Quebec’s […]
Recent court decisions have driven home the importance of living up to one’s fiduciary duty, as regulators scrutinize investment management practices among pension plans. A recent consultation paper issued by the Canadian Association of Pension Supervisory Authorities (CAPSA), entitled The Prudence Standard and the Roles of the Plan Sponsor and Plan Administrator in Pension Plan […]
With 2009 all but written up in the history books, market watchers are turning their eyes toward 2010. Given the tumult of the past year, with markets cratering in March only to roar back through the second and third quarter, a period of sedate returns is likely welcome. Investment returns for 2010 will be driven […]