CANADA - A survey of Registered Retirement Savings Plans (RRSP) showed Canadians had not taken up foreign investments despite the lifting of restrictions on foreign content holding a year ago.
The survey by Royal Bank of Canada found the average foreign content holdings of Canadians was 14%, up from 11% in 2004 and 10% in 2003.
Most respondents (79%) indicated they had no intention of increasing their investments abroad.
Among the main reasons given were that they like their portfolios the way they were (18%), they preferred to invest in Canada (11%), or felt they did not have enough knowledge (11%) to do so.
However RBC said some Canadians appeared to be warming to the idea of going global in the future, with 12% of RRSP holders stating they planned to increase the foreign content in their portfolios within the next 12 months, with around a third (31%) of those citing expected better returns as the reason why.
Diversification (18%) was the next most popular reason.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers