Briefly:

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RBC Dexia Investor Services introduced its new quarterly Pooled Fund Survey, today. The survey presents comparative return information for individual pooled funds available within Canada.

The survey will allow for various pooled funds to be evaluated according to their individual mandates, peers, and benchmarks. The inaugural survey is available now on rbcdexia.com. Going forward, the survey will be released on a quarterly basis, around the 20th business day after the end of the calendar quarter.

“This survey was developed in response to an increasing market demand for unbiased industry information and marks our commitment to providing independent insight into the investment management industry,” says Fay Coroneos, global head of risk and investment analytics at RBC Dexia.

Most leading pooled fund managers are included in the survey. Currently there are 70 contributing firms covering more than 600 funds.

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Industrial Alliance earns $46.2 million in Q1

In the first quarter of 2009, Industrial Alliance produced a net income of $46.2 million for common shareholders who represent an 11.2% return on equity.

“Profits are positive; the return is relatively high; financial strength remains very solid; the quality of investments remains excellent; the company’s book value is growing; and we still have enough leeway to absorb significant market downturns,” noted president and chief executive officer Yvon Charest.

The board of directors announced a quarterly dividend of $0.2450 per common share, and anticipate this dividend amount will be maintained through 2009.

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Aussies re-examine retirement

The financial market downturn has led Australian boomers to review their options as they near retirement, but so far there has been no sign of panic. Rather than making any rash changes to their investment portfolios, many are looking at transitioning into retirement, or increasing their investments leading up to retirement, according to Australia’s Commonwealth Bank.

In a survey entitled Retire Ready, the bank found boomers were opting to increase their investments and savings both before and after their planned retirement age. At the same time, they are taking steps to educate themselves on finances to a greater degree than previous generations.

But while half said they did not expect to be able to afford their desired retirement lifestyle, only 25% were willing to consider postponing retirement.

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Global market gains boost U.S. plan funding

The funded status of a typical U.S. pension plan improved by 3.9 percentage points in April, according to monthly statistics published by BNY Mellon Asset Management.

Strong performance in the global market over the past two months has increased the assets of an average moderate-risk portfolio by 6.7 percentage points.

“April’s continuation of the global equity market rebound that started in March brought the funded status of the typical U.S. corporate pension plan nearly back to levels we last saw at the end of November 2008,” said Peter Austin, executive director of BNY Mellon Pension Services, the pension services arm of BNY Mellon Asset Management.

To help protect the funded status, the gains from equities may be required to offset potential losses from corporate bonds.

(05/06/09)