Institutional investors are more confident this month, according to the State Street Investor Confidence Index. Global investor confidence rose by 5.1 points to 97.2 from May’s revised reading of 92.1. “Looking regionally, it is North American institutional investors who are displaying the most enthusiasm,” says State Street Associates director Paul O’Connell. “European investors have followed […]
Life always has a fat tail, according to American economist Eugene F. Fama. When the hedge fund Amaranth lost more than $6 billion due to natural gas bets, it was reported that their risk models had not predicted such a loss. More recently, the Bank of Montreal also reported losses of $680 million from its […]
There are three interesting characteristics that make infrastructure a compelling investment for investors, said Frank Belvedere yesterday at the sixth annual Canada Cup of Investment Management in Toronto. The first, he said, is long-duration assets, which are very much aligned with pension liabilities. The second is relatively high cash flows that also have a high […]
Understanding where people’s responsibilities lie at the highest levels will aid in creating an environment that adheres to a solid governance structure. Reports of underfunded plans and well-publicized class action cases—Participating Co-Operative of Ontario, Mine Jeffrey in Quebec and Enron—served to heighten the already mounting focus on pension governance. It opens up a number of […]
Investment management professionals are typically hard-driven individuals determined to win at all costs, take no prisoners and beat the competition/benchmark. So how does one manage a team of these high-performing alphas while maintaining portfolio results? High turnover is prevalent in the investment management industry, where star performers move on to greener pastures and poor performers […]
CI Financial says more than 90% of the outstanding shares of Rockwater Capital have been deposited to the offer to buy the firm. Rockwater has three related businesses: KBSH Capital Management, an investment counseling and portfolio management firm; Blackmont Capital, a full-service investment dealer; and Lakeview Asset Management, a retail investment management company. Separately, Rockwater […]
The money management industry is changing fast. What will the new face of the industry look like? The money management industry is undergoing a massive change. Just how different will managers look in the future? A report last year by McKinsey & Company called The Asset Management Industry in 2010 found that the money manager […]
The institutional investor community is a close-knit one, and one that relies heavily on the effectiveness of a strong working relationship between the three decision-makers: the sponsor, the consultant and the money manager. But, like all close relationships, we can all get on each others’ nerves from time to time. A white paper that was […]
Goldman Sachs Capital Partners may ask some of the country’s largest pension funds to help purchase Alliance Atlantis assets to avoid regulatory issues, according to a newspaper report. CanWest and Goldman’s private-equity division, GS Capital Partners, announced the acquisition last week. GS Capital Partners is looking for outside investors because it will own the majority […]
The Ontario Teachers’ Pension Plan(OTPP)has completed its purchase of three of the four marine container terminals from Hong Kong’s Orient Overseas(International)Limited. The acquisition of the two terminals in the Vancouver-area and one in New Jersey have been completed. The New York Container Terminal purchase is expected to close before the middle of the year. The […]