Briefly:

Previous Brieflies this week: | MON | TUE | WED | THU |

(September 12, 2006) RBC Financial Group and Dundee Securities have joined forces on the first series of the Dundee AdvantagePlus Focused Commodity Notes. Available until October 13, the new notes offer high liquidity and access to six industrial and energy commodities, including crude oil, natural gas, aluminum, zinc, copper and nickel.

Canadian dollar-denominated returns are linked to the appreciation of the basket of commodities in the notes, the two firms said in a joint news release. The notes are 100% principal protected if held to maturity, RRSP eligible, and offer full currency protection.

Issued in Canadian dollars, the notes are guaranteed by RBC and mature in 2010. Minimum purchase is $5,000, with an initial selling commission of 3%.

• • •

Sarbit moves into fixed income

(September 12, 2006) Sarbit Asset Management has launched two new bond funds and a money-market offering. Sarbit Canadian Bond Trust, Sarbit Real Return Bond Trust and Sarbit Money Market Trust will be managed by Nestor Theodorou, who came to the Winnipeg-based company in July after running more than $6 billion in fixed-income assets for Investors Group.

“We are extremely excited about the bond funds we are launching today. We feel our attractive pricing combined with the pedigree of portfolio management will bring significant value to the marketplace,” says company president Larry Sarbit.

The MERs on the new funds are 1.4% (Sarbit Canadian Bond Trust), 1.35% (Sarbit Real Return Bond Trust), and 1.05% (Sarbit Money Market Trust).

All three funds will be offered in regular mutual fund units, F-class units, and I-class units, as well as front-end, low load and DSC purchase options.

• • •

Inhance calls for increased income trust disclosure

(September 12, 2006) Socially-responsible investment specialist Inhance Investment Management says Canada’s securities regulators should encourage income trusts to provide more disclosure on environmental, social and governance risks.

“Income trusts have become a popular investment for the average Canadian’s portfolio,” says Inhance vice-president Dermot Foley. “Because of this, it is even more important for investment managers and advisors to have full disclosure on each trust’s risk profile.”

The Vancouver-based firm notes that earlier this year, more than 60 institutional investment managers endorsed the UN Principles for Responsible Investment, which suggest that fund managers incorporate ESG analysis into investment decisions and engage companies on ESG risk management and disclosure.

• • •

Ontarians advised to prepare for end to mandatory retirement

(September 12, 2006) Mandatory retirement in Ontario will end on December 12, 2006, the province’s labour minister reminded on Tuesday, urging employers to familiarize themselves with the new legislation.

Ontario announced an end to mandatory retirement last year, but included a one-year transition period.

“People are healthier and living longer, so it is unfair to insist that they stop working simply because they turn 65,” said Labour Minister Steve Peters. “Ending mandatory retirement allows workers to decide when to retire based on lifestyle, circumstance and priorities.”

Employers should also consider the changes that may be necessary to existing policies to comply with the end of mandatory retirement, and if applicable, discuss the situation with their unions, Peters said.

“Employers, unions and workers should now be actively preparing for the end of mandatory retirement,” said Peters. “For example, some employers may need to adapt their human resources policies and practices to comply with the law.”

• • •

Discount brokerage offers flat-fee trading

(September 12, 2006) E(*)TRADE Canada is introducing a flat fee of $9.99 per trade to customers who hold at least $50,000 in assets, or conduct 30 or more trades per quarter.</P.

The discount brokerage claims to be the first Canadian firm to offer flat pricing to both affluent and active-trading customers.

“E(*)TRADE Canada continues to redefine value in the market, delivering premium rates, cutting-edge functionality and superior service to Canada’s everyday investor,” said company president Duncan Hannay in a statement. “By leveraging the operational efficiencies inherent in our unique business model, we aim to make E(*)TRADE Canada the premier destination for the value-driven retail investor.”

Earlier this year, E(*)TRADE Canada lowered commissions across the board and introduced flat U.S. equity commissions.

• • •