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(October 12, 2006) Canadian investor sentiment recorded its first decrease in two years as real estate and registered savings plans showed softness, according to a national poll conducted for Manulife Financial.

The survey suggests that investors are still confident, but becoming less so as cracks start to show around real estate markets, particularly in the U.S. As a result, investors shied away both from investing in other properties, putting money into renovations or paying down their mortgage in the last quarter. Still, real estate investments were the most popular amongst Canadians.

The survey also showed that Canadians are still keen on balanced mutual funds, which was the second most popular spot to invest. Almost half of those surveyed felt balanced funds are a good or very good place to invest, while 22% said the opposite.

Canadians were content to hold on to their cash this quarter rather than bet it on the market. Less than 40% of those surveyed said it was a good or very good time to invest in stocks, either directly or via mutual funds, while 26% viewed equities as a bad choice.

Still, this isn’t stopping Canadians from saving for retirement, with more than 60% of Canadians still feeling it’s a good time to put money into their RRSPs. But Canadians might not be saving as much for their children’s education. Attitudes towards RESP contributions softened in September. According to Manulife, some 54% of those surveyed said now is a good time to invest, compared to 19% who disagree.

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AIMA Canada announces new chair

(October 12, 2006) The Canadian chapter of the Alternative Investment Management Association has announced a new chair and the members of its executive committee for the next two years.

Phil Schmitt of Summerwood Group, a Canadian hedge fund company, will take over from AIMA’s founding chair, Jim McGovern of Arrow Hedge Partners. McGovern, who formed AIMA in 2003, will stay on as an ex-officio member of the executive committee.

Other new members to the executive committee include Michael Burns of McMillan Binch Mendelsohn LLP, who will serve as AIMA’s legal counsel, and Chris Pitts of PricewaterhouseCoopers LLP, who will act as treasurer. Both Burns and Pitts have been active with AIMA Canada at the committee level for several years.

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Western Financial Group gets new vice-chair

(October 12, 2006) Western Financial Group has appointed Bill Yuill as vice-chair of its board of directors. Yuill’s appointment fills the role that has been vacant since 2004 when Jim Dinning assumed the position of chair for the company.

Yuill is chair and CEO of The Monarch Corporation, a private holding company with investments in telecommunications, sports properties, real estate properties and transportation.

Western Financial Group has offices in towns and small cities across Western Canada, serving about 250,000 customers with insurance, investment and banking products through WFG Agency Network, Western Life and Bank West.

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HNW clients have new option in Saskatchewan

(October 12, 2006) High-net-worth families in Saskatchewan have a new place to invest their money. BMO Harris Private Banking is opening an office in the prairie province, which, according to the firm, will be the only private bank with an office in Saskatchewan.

The Saskatoon office will include a senior private banker, an investment counsellor and a private banking officer supported by senior staff in the Winnipeg office. The office will also work in collaboration with BMO Bank of Montreal staff under Ken Segboer, vice-president, Saskatchewan District.

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Canadian Business magazine names Michel Tremblay as country’s top CIO

(October 12, 2006) Canadian Business magazine has named Michel Tremblay, National Bank of Canada’s senior vice-president responsible for personal banking and wealth management, as Canada’s leading executive in its Top in Sales category.

Since taking over as head of the personal banking and wealth management business line in 2002, Tremblay has generated positive results, including a 25% improvement in customer satisfaction. Wealth management has also been rewarded under Tremblay’s watch, with sharply higher sales of mutual funds and structured products and a four-fold jump in private investment management assets, which have soared from $1 billion to $5 billion.

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