Briefly:

(August 14, 2008) Thanks to Canada’s energy explosion, the Canada Pension Plan fund saw its coffers fatten by $5 billion between April 1 and June 30.

That pushed the fund’s assets under management up to $127.7 billion, up from the previous quarter’s $122.7 billion.

Of the windfall, $1.3 billion came from a 1% rate of return on investments, while the rest was a result of contributions exceeding current benefit payments.

“Financial markets had a positive impact on the investment portfolio overall this quarter, as Canadian equity markets rose 8.6% on the strength of higher commodity prices and energy stocks, which more than offset a decline of 3.4% in other markets due to the ongoing effects of the credit crisis,” says David Denison, president and CEO of the CPP Investment Board (CPPIB).

The CPPIB says based on this performance, the fund’s annualized rate of return was 9.3% at the end of June; the plan needs a 4.2% rate of return to sustain its current contribution rate.

TD Waterhouse protecting accounts with voiceprint recognition

(August 14, 2008) With hackers and fraudsters getting more savvy these days, protecting one’s finances is more challenging than ever. That’s why TD Waterhouse Discount Brokerage has implemented biometric technology as a way to protect its clients’ accounts.

The company launched its “Voice Print System,” a new technology that allows clients to create a unique voice print, which is then used to verify their identity.

“In fast-moving markets, clients want speed and security, and TD Waterhouse’s Voice Print System offers both,” says John See, president, TD Waterhouse Discount Brokerage.

The bank says it will take a client just two minutes to set up his or her voiceprint.

(08/14/08)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.