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Apr 1, 2014

Ontario Teachers’ Pension posts 10.9 pct return in 2013

TORONTO, April 1 (Reuters) – The Ontario Teachers’ Pension
Plan, one of Canada’s biggest investors, said Tuesday it had a
10.9 percent rate of return on its investments in 2013, bringing
net assets to a record C$140.8 billion ($127.6 billion).

The strong 2013 returns erased Teachers’ funding shortfall.
Preliminary results showed a C$5.1 billion surplus, the plan’s
first in 10 years. The fund’s rate of return since inception in
1990 has been 10.2 percent.

Mar 31, 2014

Canadian wealth managers jockey to recruit advisers

TORONTO, March 31 (Reuters) – An aging workforce and looming
regulatory change are driving stiff competition between Canada’s
top wealth managers to recruit new advisers, a costly and
arduous process that makes finding the right fit crucial for
both sides.

With the average age of advisers at full-service investment
companies nearing 50 and compliance demands rising, top-tier
firms say the next few years may bring the stiffest competition
yet as advisers and employers jockey to find a permanent match.

Mar 27, 2014

Canadian asset manager Sprott says earnings hit bottom in 2013

TORONTO (Reuters) – Alternative asset manager Sprott Inc (SII.TO: Quote, Profile, Research, Stock Buzz) said on Thursday its earnings hit bottom in the final quarter of 2013 as resource markets swooned, and it expects to do better in 2014 as it considers what to do with ample cash.

Toronto-based Sprott has long been bullish on precious metals and profited handsomely when their prices soared after the financial crisis.

Mar 17, 2014

Canadian home sales rise in February, forecast trimmed

TORONTO, March 17 (Reuters) – Sales of existing homes in
Canada edged higher in February from January, the first monthly
increase after five straight declines, the Canadian Real Estate
Association said on Monday, but it trimmed its sales forecast
for this year.

The industry group for Canadian real estate agents said home
resales were up 0.3 percent last month from January, seasonally
adjusted. On a year-on-year basis, sales rose 1.9 percent from
February 2013, not seasonally adjusted.

Mar 13, 2014

TD Bank hopes to expand U.S. wealth management unit

TORONTO (Reuters) – Toronto-Dominion Bank hopes to expand its U.S. wealth management business, targeting a million people with at least $100,000 in liquid assets who already are customers of its growing U.S. retail bank, said a senior executive of Canada’s second-largest lender.

Banks globally are battling to win both high-net worth clients, typically defined as those with at least $1 million in investable assets. Investors with at least $100,000 in assets are referred to as the “mass affluent.”

Mar 12, 2014

Canadian home prices rise in Feb to fresh high -Teranet

TORONTO, March 12 (Reuters) – Canadian home prices rose in
February, pushing a national index of prices to a record high
for the second month in a row, the Teranet-National Bank
Composite House Price Index showed on Wednesday.

The index, which measures price changes for repeat sales of
single-family homes, showed national prices rose 0.3 percent
last month from January.

Feb 20, 2014

Ukrainians in Canada send money, shed tears for Kiev

TORONTO/WINNIPEG, Manitoba (Reuters) – The small gilded chapel at the Ukrainian Canadian Care Center, a retirement residence in suburban Toronto, is usually shuttered and dark midweek. But on Thursday, dozens of elderly immigrants and their caregivers gathered to pray for protesters and family back in Kiev.

At a mid-morning service, a priest from Toronto’s Ukrainian Orthodox Cathedral, Jaroslaw Buciora, told people the best thing they could do is pray for those back home. He and many others in the Ukrainian-Canadian community, which is estimated to number 1.2 million, are doing more than that, however – everything from sewing ribbons to sending cash in support of the Kiev demonstrators.

Feb 14, 2014

Canada pension fund boss wishes he’d made more deals

TORONTO (Reuters) – The Canada Pension Plan Investment Board (CPPIB), one of the world’s biggest pension funds, notched another quarter of strong returns but its chief executive officer said he wishes the fund had been more aggressive when prices were cheap.

CPPIB, which manages Canada’s national pension fund and is a major global dealmaker, said it had gross investment returns of 5.9 percent for the third quarter ended December 31, taking its five-year investment rate of return to an annualized 7.2 percent.

Feb 14, 2014

Brookfield Asset Management cash flow more than doubles in Q4

TORONTO, Feb 14 (Reuters) – Brookfield Asset Management Inc
notched its best year ever in 2013, more than doubling
its funds from operations in the fourth quarter, as investor
hunger for real assets drove profits and the company cashed in
on big bets made during the financial crisis.

The Canadian property, power and infrastructure investor
said on Friday its consolidated net income rose 9 percent to
$850 million, or $1.08 per share, in the fourth quarter and was
up 39.5 percent to $3.4 billion in 2013 as a whole.

Feb 13, 2014

CI Financial profit rises 22 percent as assets climb

TORONTO (Reuters) – Canadian asset manager CI Financial Corp reported a 22 percent rise in quarterly profit on Thursday, matching expectations, as surging equity markets boosted assets under management.

While CI did not increase its dividend again as some had predicted, shares were up 0.2 percent at C$35.68 in late afternoon trade on the Toronto Stock Exchange and analysts said they expected more strength from the Toronto-based CI in 2014.