Briefly:

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The CFA Institute announced Wednesday that 128,000 individuals from 154 countries have registered to write the June 2009 CFA exam — an increase of 14% from 2008.

Despite the economic downturn, the CFA Institute continues to see a steady global increase in the number of CFA candidates. Since 1990, the compound growth rate for global registrations in the CFA Program has been approximately 16%, while the compound annual growth rate for CFA Institute membership has been approximately 9%.

“Now more than ever we need well trained, ethically centered investment professionals operating in the financial markets,” said Bob Johnson, CFA, senior managing director of CFA Institute.

In Canada. there are 15,100 registrants for the June 2009 exam. The largest number of registrants is in Asia/Pacifica Asia with 80,200 registrants.

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Renaissance launches high interest account

Renaissance Investments has introduced a new high-interest savings account, which pays a current interest rate of 1.15% (subject to change at any time without prior notice) and is CDIC-eligible.

The account is available for registered and non-registered investments, including tax-free savings accounts. The minimum initial investment is $1,000 and it is offered through CIBC Asset Management Inc.

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Manulife launches index funds

Manulife Mutual Funds is offering three index funds, with each fund’s objective to closely track the performance of the publicly traded securities in their respective markets, as measured by its corresponding index.

• Manulife Canadian Equity Index Fund (S&P/TSX Composite Index) • Manulife U.S. Equity Index Fund (S&P 500 Index) • Manulife International Equity Index Fund (MSCI EAFE Index)

The funds will be managed by Manulife’s asset management division, MFC Global Investment Management. The passively managed funds are meant to add a complementary element to the actively managed funds in the Simplicity Asset Allocation Program — there are no immediate plans to offer them as stand alone mutual funds.

(05/13/09)