Briefly: “MDRT Experience coming to Hamilton” and more news

For anyone who’s ever wondered what went on at the Million Dollar Round Table but didn’t qualify for membership, here’s your chance for a sneak peak. The third annual MDRT Experience is open to all financial advisors and their guests.

The event takes place on Sept. 16, in Hamilton, Ont., and features three highly influential speakers from the MDRT, including the group’s president Julian Good.

Also speaking at the event is Marc Silverman, past chair of The Top of The Table, and author of two books on how to build your business. He will be joined by Canada’s own Julian Wise, who has been an MDRT leader for 31 years.

The MDRT Experience take place at the Michelangelo Banquet Centre on Upper Ottawa St. in Hamilton. Doors open at 7:30 a.m. and the speaking events begin at 8:30 a.m. sharp. Tickets cost $60 (plus HST), and must be ordered in advance.

To order tickets call (905) 659-4077 or email advocishamilton@sympatico.ca. You can also order online.

– Steven Lamb

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RBC offers emerging bond fund

RBC Global Asset Management has launched a new mutual fund for investors seeking a little more adventure in their fixed income holdings. The RBC Emerging Markets Bond Fund will invest in government and corporate bonds issued from Latin America, Asia and emerging Europe.

“This low-cost fund is the only one of its kind for individual Canadian investors and draws upon the time-tested expertise of Jane Lesslie and our emerging markets debt team,” says Doug Coulter, president of RBC Asset Management Inc.

The management fee on the fund ranges from 1.5% for Series A and Advisor Series, to 0.75% for Series F. For investors using RBC’s online discount brokerage service, the management fee will be 0.9%. The fund is also available to institutional investors through Series O.

“Currently representing about 35% of global output, emerging markets have been the engine of growth, helping the world recover from the 2008 financial crisis,” says Jane Lesslie, senior portfolio manager, RBC Asset Management UK Ltd.

– Steven Lamb

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Commodity prices surge in July

The cost of commodities shot higher in July, judging by Scotiabank’s Commodity Price Index, which gained 2.7% last month. The index tracks the value of Canada’s primary export commodities, ranging from energy and minerals, to agriculture and forestry.

Several commodities benefited from the fact that they are denominated in U.S. dollars, points out Patricia Mohr, vice-president, economics and commodity market specialist, with Scotiabank. The greenback fell in July, pushing nominal prices higher.

In July, the big drivers were in the agricultural sector, as Russia announced export bans on wheat as a result of drought-ravaged harvests. That sent global grain and oilseed prices higher. The agriculture sub-index soared by 7.1% month over month.

“Since bottoming in April/May at $266 per tonne, the Canadian Wheat Board’s asking price for wheat exports recovered rapidly to $334 in mid-August and will likely climb further over the next six months,” says Mohr. That’s a gain of 26% for No. 1 grade wheat.

In the mining sub-index, surging base metal prices offset weakness in the precious metals. Copper prices have risen as China’s consumption estimates have been revised upwards.

“Huge spending on copper-intensive power infrastructure on the state grid in rural areas will continue through 2012,” says Mohr. “Beijing has also renewed the home appliance subsidy scheme and is promoting electric cars, which are twice as copper-intensive as conventional vehicles.”

The price of potash was relatively unchanged in July, but it appears to have moved higher in the first half of August in response to lower wheat yields.

– Steven Lamb

(08/23/10)