OMERS Capital Markets and BCE have both joined Aequitas Innovations, a consortium that plans to launch a competitor to the Toronto Stock Exchange.
Although the second quarter of 2013 was challenging, with the S&P/TSX Composite Index falling by 4.1%, most large cap active investment managers in Canada added value and beat the benchmark, according to the Russell Canadian Active Manager Report.
The British Columbia Investment Management Corp. produced a 9.5% return for the year ending March 31, 2013, due to strong results from its public equities and real estate portfolio.
Industrial Alliance has signed a deal to acquire Jovian Capital for $94 million.
Robert McKim and Marquest Asset Management have completed the purchase of the operating assets of Seamark Asset Management.
Connor Clark & Lunn Financial Group has entered into an agreement to sell its structured products business Connor Clark & Lunn Capital Markets to Aston Hill Financial for cash proceeds that imply a total value for the company of $20.5 million.
If the United States Federal Reserve implements a quantitative easing stimulus program, this would pose the biggest threat to the stock market over the next six months, according to a Northern Trust survey.
Financial executives around the world face numerous growth, regulatory and staffing challenges but remain confident about their prospects, according to a report by Robert Half, a U.S.-based staffing firm.
Worldwide assets top US$62 trillion.
Investment managers in the United States are concerned about regulatory uncertainty, but indicate that revenue and hiring are on the rise, according to KPMG’s 2013 Investment Management Business Outlook Survey.