Andrea's Feed
Apr 3, 2012

Ontario Teachers’ returns climbed again in 2011

April 3 (Reuters) – Ontario Teachers’ Pension Plan, one of
Canada’s top dealmakers, said on Tuesday it had an 11.2 percent
rate of return on its investments in 2011, bringing net assets
to a record high C$117.1 billion ($117.9 billion) despite market
volatility.

The third straight year of double-digit returns on its
massive investment portfolio failed to close Teachers’ funding
shortfall, which narrowed to C$9.6 billion from C$17.2 billion
in 2010. The funding gap measures the shortfall between the
projected cost of providing pensions to Teachers’ 300,000 active
and retired teachers and its projected asset growth.

Apr 2, 2012

Wiley to head BlackRock Canada iShares as Seif exits

April 2 (Reuters) – April 2 (Reuters) – BlackRock
Investments Canada Inc, a unit of New-York based BlackRock Inc
, named Mary Anne Wiley head of its iShares unit on
Monday following the completion of BlackRock’s purchase of
Claymore Investments Inc.

BlackRock said Som Seif, the former president and chief
executive of Claymore, was leaving the company less than three
months after it acquired Claymore from Seif, but that he would
stay at BlackRock until mid April to help with the transition.

Mar 29, 2012

RBC Wealth eyes hiring in UK, US, emerging markets

March 29 (Reuters) – Royal Bank of Canada (RY.TO: Quote, Profile, Research) is hiring
aggressively as the world’s sixth-largest wealth manager seeks
to expand its business in Asia and Latin America as well as more
established markets such as the United States and Britain,
executives said on Thursday.

RBC Wealth Management head George Lewis told Reuters in an
interview that Canada’s largest bank wants to more than double
its adviser headcount in emerging markets to at least 220 by
2015 as it seeks to expand its business there from C$20 billion

Mar 29, 2012

Canada lags on fiduciary duty, fee transparency

March 29 (Reuters) – While regulators around the world are
forcing financial advisers away from commission-based selling to
combat real or perceived conflicts of interest, a fractured
regulatory system has left Canadian investors lagging the move
to more transparent fees.

“You’ve seen compensation changes in Britain, you’ve seen
compensation changes in Australia, the same thing in the U.S.
And we still seem to be moving at a snail’s pace compared to
what’s happening around the globe,” said Alan Fustey, an
independent financial adviser and author of “Risk: Financial
Markets and You.”

Mar 14, 2012

Novelist Atwood’s debt treatise makes leap to film

TORONTO (Reuters) – When director Jennifer Baichwal was asked to turn novelist Margaret Atwood’s book about debt into a documentary, she declined, scared that the topic was about money. Three years later, film complete, she was terrified to show her literary hero the result.

The Emmy-winning filmmaker needn’t have worried on either count. Atwood’s book, “Payback: Debt and the Shadow Side of Wealth” is more about moral debt than financial, and Baichwal’s film of the same name clearly impressed the internationally renowned writer with its stories of a blood feud, a field-worker crusade for better treatment, and a massive oil spill.

Mar 11, 2012

Investor fear fuels market-linked GIC sales

TORONTO, March 11 (Reuters) – With interest rates low
and bitter memories of falling stocks fresh in their minds,
Canadian investors are increasingly looking to market-linked
GICs, a product that protects their principal while offering
upside possibilities.

Sales of Guaranteed Investment Certificates (GICs) linked to
equities performance rose to a record C$32 billion ($32.36
billion) in 2011, up 13.7 percent from 2010, according to a
study by research firm Investor Economics.

Feb 28, 2012

C$ ends stronger ahead of ECB cash boost

TORONTO, Feb 28 (Reuters) – The Canadian dollar hit a
one-week high against its U.S. counterpart and ended stronger on
Tuesday as a looming injection of cheap cash by the European
Central Bank boosted riskier assets and kept the U.S. dollar on
weaker footing.

Risk appetite reigned as investors focused on the ECB’s
Longer Term Refinancing Operation (LTRO), an offer of cheap
money on Wednesday aimed at providing support for companies that
have been starved of investment funds.

Feb 28, 2012

Canada Pension CEO to retire, Mark Wiseman to take helm

Feb 28 (Reuters) – The Canada Pension Plan Investment
Board said on Tuesday its head of investments will take the helm
when its current CEO retires in June, preserving continuity as
the C$150 billion fund tries to cement its reach as one of the
world’s biggest dealmakers.

Mark Wiseman, executive vice president and head of
investments at the CPPIB, will take over as chief executive when
current CEO David Denison retires in June, the fund said.

Feb 24, 2012

C$ weakens to near US$ parity; eyes oil, Europe

TORONTO, Feb 24 (Reuters) – The Canadian dollar ended
slightly weaker near parity with the U.S. dollar on Friday as a
quiet day on the economic front and market focus on the
implementation of Greece’s rescue deal kept the currency mostly
on the sidelines.

While oil prices rose above $125 a barrel, on track for a
fifth straight weekly gain, the Canadian dollar ended the day
and the week little changed, overlooked as traders watched
developments in the euro zone and Iran for direction.

Feb 9, 2012

C$ ends stronger after hitting 2012 high on Greece

TORONTO, Feb 9 (Reuters) – Canada’s dollar
strengthened to a 2012 high against its U.S. counterpart on
Thursday on firmer oil prices and as investors sought riskier
assets on news of a Greek bailout package, but gains were curbed
by lingering fears of a default.

News that Greek leaders had clinched a long-stalled deal
just hours before a key meeting with the country’s financial
backers encouraged investors to take on some risk, driving down
prices of safe-haven U.S. Treasuries.