Briefly: “Invesco Institute announces ‘Building Better Portfolios'” and more news

For more information visit: advisor.invescotrimark.com.

– John Powell

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Vanguard introduces S&P-based ETFs

Vanguard is ushering in 17 new funds. Eight are index mutual funds and nine are new exchange-traded funds (ETFs) based on S&P domestic stock benchmarks.

Among the new offerings are ETF shares of Vanguard’s 500 Index Fund, the industry’s first index mutual fund for individual investors. Vanguard’s ETF family will expand to 55 offerings with the introduction of eight new equity funds and ETFs targeting the growth and value segments of the S&P 500 Index and the growth, value and blend segments of the S&P MidCap 400 and SmallCap 600 Indexes.

“The new Vanguard index funds and ETFs offer our trademark low costs and tax efficiency, and aim for the utmost tracking precision. They will appeal to financial advisors and institutional investors seeking to build portfolios based on S&P benchmarks,” said Vanguard chair and CEO Bill McNabb.

In the coming months, Vanguard plans to introduce 11 additional index funds with ETF Shares. On the equity side, Vanguard will add a suite of seven funds with ETF Shares to offer exposure to value, growth and blend segments of the U.S. stock market based on the large cap Russell 1000 Index series and the small cap Russell 2000 Index series. A broad market fund and ETF seeking to track the Russell 3000 Index will also be offered.

– John Powell.

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Canaccord founder honoured

Peter M. Brown, the founder of Canaccord Financial Inc., has won the Ernst & Young Entrepreneur of the Year 2010 Pacific Lifetime Achievement Award.

The award honours individuals who have made a lasting impression on the Canadian business community and who inspire the next generation of Canadian entrepreneurial talents.

“Peter embodies the true spirit of an entrepreneur. He is a born leader with an innate business sense and an admirable hunger to succeed,” said Fred Withers, director of Entrepreneur of the Year for the Pacific region.

Peter began his entrepreneurial career in 1962 and founded Canaccord Financial in 1968. He transformed Canaccord from a Canadian-based venture capital firm into a leading global financial services firm.

Former Pacific recipients of the lifetime achievement award include Robert Lee (2008), Dr. John MacDonald (2006), William L. Sauder (2004), Milton Wong (2002), Joseph Segal (2001) and. Jim Pattison (2000).

Brown will be presented with the award during the Pacific Entrepreneur of the Year Awards banquet at the Vancouver Convention Centre on Sept. 28, 2010.

– John Powell.

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Confidence grows in U.S. public companies

Investors still believe in the strength of U.S companies despite the fluctuating marketplace.

According to the Main Street Investor Survey, 75% of the respondents have confidence investing in U.S. public companies. Faith in audited financial information released by public companies remains strong, too, at 70%. Approximately half of those who answered the survey have changed their investment behaviour in the previous six months in reaction to the economy. That’s down from 61% in 2009.

Investor confidence in capital markets, though, declined with confidence in U.S. capital markets, dropping to 68% in 2010 from 73% in 2009.

“The four years in which we have surveyed individual investors have coincided with a major economic crisis,” said CAQ executive director Cindy Fornelli. “While investors are concerned with the performance of the markets, they continue to have confidence in public companies and their audited financial statements.”

When asked who does the best job of protecting their interests aside from themselves, 32% of investors cite public company auditors as their first or second choice, with 16% of respondents selecting auditors as the single group that does the best job.

– John Powell.

(09/09/10)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.