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(July 23, 2008) Volatile markets might make good headlines, but Canadians haven’t been fazed by all the turbulence. That’s according to a new Manulife poll, which saw its Financial Sentiment Index climb by two points in late June.

That positive move — the index now stands at +24 — counters March’s five-point drop.

“We’re seeing very consistent responses from Canadians, who suggest they’re adjusting in stride to daily events,” says Paul Rooney, president and CEO of Manulife Canada.

Rooney reveals that Canadians have made some changes to the way they invest; there’s less interest in real estate and more emphasis on cash and mutual funds. Stocks, he says, are the only investment vehicle in negative territory.

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Keith Ambachtsheer wins CFA award

(July 23, 2008) The CFA Institute announced Wednesday that Keith Ambachtsheer is this year’s recipient of the prestigious James R. Vertin Award. The prize recognizes people who have developed a body of research related to investment professionals.

Ambachtsheer, who is a director of the Rotman International Centre for Pension Management at the University of Toronto’s Rotman School of Management, was given the award on Tuesday night in Chicago.

One reason he won the award was for his 2007 book, Pension Revolution: A Solution to the Pensions Crisis, which outlines how a new pension design called TOPS (The Optimal Pension System) offers an integrative solution to today’s pension crisis.

He also wrote Pensions Fund Excellence: Creating Value for Stakeholders, in 1998, and Pensions Funds and the Bottom Line, in 1986.

Accolades are nothing to Ambachtsheer — he’s won the Graham and Dodd Scroll Award four times and two Roger Murray Awards. He took home the 2007 Outstanding Industry Contribution award by Investments and Pensions Europe, and was also named one of the “30 Most Influential People” by Pensions & Investments in 2003.

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TD Commerce forced to change name

Thanks to a court order TD Commerce — which was supposed to be the name of the newly merged Commerce Bank and TD Banknorth — has been changed to TD Bank, America’s Most Convenient Bank.

The name was changed as result of legal challenge by a Massachusetts firm with a similar name. A federal court is now forcing TD to change it’s moniker so it doesn’t conflict with this smaller financial institution.

“In our view, the well-recognized TD name combined with Commerce Bank clearly distinguished us from other banks with Commerce in their name,” Bharat Masrani, president and CEO of TD Bank North America. “We’re disappointed that the Court felt differently, but rather than spend countless time as well as valuable resources fighting this legal challenge in court, we have decided to remain focused on our Customers and Employees and move forward under our new brand name of TD Bank, America’s Most Convenient Bank.”

(07/23/08)