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A group representing hundreds of the world’s largest pension funds says institutional investors must accept their share of responsibility for the “the largest financial crisis in a generation.” Signatories to the United Nations Principles for Responsible Investment, including the Canada Pension Plan Investment Board and Quebec’s Caisse de dépôt et placement, issued a joint statement […]
By Doug Watt |March 2, 2009
2 min read
Canada’s economy contracted at an annual pace of 3.4% in the fourth quarter of 2008 — its worst performance since 1991 — due to the global recession, according to Statistics Canada. Canadian exports fell for the sixth consecutive quarter, by 4.7%, while imports were down 6.4%. “Declines were registered for both goods and services imports, […]
By Staff |March 2, 2009
4 min read
The typical institutional investment manager posted a 31% reduction in portfolio asset values in 2008, and now industry professionals are asking themselves how they got it so wrong, and how they can turn it around in 2009, a study reveals. Greenwich Associates’ 2008 U.S. Investment Management Study found that many American institutions have been frustrated […]
By Jody White |February 27, 2009
3 min read
It was a bad year on so many levels, but the strikes against 2008 continue to add up. The final quarter of last year marked the lowest point since 2005 for mergers and acquisitions, according to specialty investment banker Crosbie & Company. There were a total of 271 new transactions announced in Q4, a decline […]
By Steven Lamb |February 27, 2009
Welcome to the weekly roundup of news affecting you, as covered by Advisor.ca and our sister publication, Conseiller.ca. Read this section every week to catch up on the news you missed, or click here and subscribe to get regular updates sent to your inbox or BlackBerry. Skip to: Quick links, stories this week. Or click […]
By Kate McCaffery |February 27, 2009
8 min read
United Financial has announced changes to the management of 13 managed portfolios, some of which will now be managed by corporate cousins under the CI Financial umbrella. Three U.S. Equity Value mandates will be transferred from AllianceBernstein to Epoch Investment Partners. The three International Equity Value mandates managed by AllianceBernstein and AGF International Advisors will […]
By Staff |February 27, 2009
In a major victory for the “say on pay” campaign, two of Canada’s big banks have agreed to implement a shareholder resolution on executive compensation. At its annual general meeting on Thursday, RBC shareholders voted 54.4% in favour of a resolution filed by Meritas Mutual Funds and 56.9% in favour of a similar resolution filed […]
By Doug Watt |February 27, 2009
Globally, financial service stocks have offered investors a rough ride — but if you are going to put your money in the sector, it appears Canadian banks are the place to be. Three of Canada’s “Big Five” banks have reported positive quarterly earnings in the last couple of days, highlighting their resilience in an extraordinarily […]
By Mark Noble |February 26, 2009
It may have marked the worst period of stock market performance since the Dirty Thirties, but the fourth quarter of 2008 saw a surge in equity issuance, according to the Investment Industry Association of Canada. Equity financings for the final three quarters totalled $12.7 billion, thanks in large part to the financial sector’s need to […]
By Steven Lamb |February 26, 2009
The advertising campaigns appear to be paying off, at least in bringing the TFSA to the attention of the investing public, according to a survey by TNS Canadian Facts. The poll found that 79% of Canadians were aware of the TFSA, falling just shy of the awareness of RESPs (84%). The RRSP remains the king […]
By Staff |February 26, 2009
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