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.
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.
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.
TORONTO, Feb 12 (Reuters) – Canadian home prices rose to a
record high in January as Vancouver prices surged, the
Teranet-National Bank Composite House Price Index showed on
Wednesday, even as other housing indicators have shown a cooling
The index, which measures price changes for repeat sales of
single-family homes, showed national prices rose 0.4 percent
last month from December, the largest monthly rise in five
months. They had risen 0.1 percent in December.
TORONTO (Reuters) – While financial advisers have struggled against headlines that suggest their fees and rates of return don’t offer enough benefits to ordinary investors, South Carolina adviser Kent Thune said he’s very clear about how he helps his clients.
“The number one value advisers provide is not picking stocks or asset allocation or timing the market. It is protecting the clients from their own behavioral mistakes,” said Thune, a certified financial planner and founder of Atlantic Capital Investments in Hilton Head Island, South Carolina.
TORONTO, Feb 6 (Reuters) – Sun Life Financial Inc launched
an asset management business on Thursday to provide private
asset class pooled funds for pension plans and other
institutional investors looking to boost yield with alternative
investments like real estate.
Sun Life Financial, Canada’s third-largest life insurer,
which already has a big defined benefit pension business, said
the new business, Sun Life Investment Management Inc., will
offer the full services of an asset manager to institutional
investors seeking access to the hot alternatives market.
TORONTO, Feb 6 (Reuters) – Canada’s federal housing agency
nudged up its forecast for housing starts and prices in 2014 and
said sales and construction will be steady to higher in 2015 as
an improving economy tempers the impact of rising mortgage
The view from the Canada Mortgage and Housing Corp suggests
the nation’s once-roaring housing market is settling into a soft
landing, with construction moderating to more sustainable levels
and sales and prices ticking slowly higher.
TORONTO, Feb 5 (Reuters) – Canada Pension Plan Investment
Board said on Wednesday it will open an office in Sao Paulo in
April, intent on boosting real estate and infrastructure
investments in the region even as money is flowing out of
CPPIB, a global dealmaker intent on diversifying its C$192.8
billion ($174 billion) portfolio, said the timing for opening
its fifth global office is perfect, though it noted competitors
like sovereign wealth funds are also hunting similar assets.
TORONTO, Feb 3 (Reuters) – Laura Parsons helped her son buy
his first home four years ago, and she’s ready to help her
daughter do the same, making her part of what many say is a
growing trend across Canada, where home prices have soared 84
percent in 10 years.
“I am going to give her the downpayment,” said Parsons, 54,
a mortgage banker in Calgary, Alberta, where an oil industry
boom has pushed home prices to record highs. “We’re the baby
boom generation, we have more money than we ever thought we
would, we have two incomes, we’re saving, so I’m going to help.”
TORONTO (Reuters) – AGF Management Ltd (AGFb.TO: Quote, Profile, Research, Stock Buzz) reported a smaller-than-expected fourth-quarter profit on Wednesday as the redemption of a single legacy account helped trim assets under management by 12.1 percent, even as global stock markets gained.
The Canadian fund manager, one of the nation’s largest independents, said net income from continuing operations was C$7.1 million ($6.4 million), or 8 Canadian cents per share, in the fourth quarter ended November 30, compared with C$13.0 million, or 14 Canadian cents per share, a year earlier.