Industry

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Investor advocates respond to POS controversy

From coast-to-coast, advocates of investor education have sharply reacted to the discontent shown by the mutual funds sector over the proposed POS disclosure obligations. “Investors want to be able to make informed decisions and require information before they buy, like every other product,” says Ken Kivenko, president of Kenmar Associates in Toronto. “These investments are […]

By Vikram Barhat |April 21, 2010

2 min read

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With Earth Day tomorrow, BMO Financial Group is reminding Canadians that, when done right, adopting an environmentally friendly investment strategy can have a positive effect on both the planet and on investment portfolios. “Increasingly, Canadians are becoming aware of the critical environmental issues facing our world such as global warming,” said Serge Pepin, director of […]

By Staff |April 21, 2010

2 min read

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Mackenzie breaks silence over Morgan departure

Mackenzie Financial Corp. is defending its handling of the “undisclosed departure” of George Morgan, who ran Mackenzie Cundill American Class. A statement obtained by Advisor.ca from Mackenzie confirms the company and Morgan have indeed parted ways. The disclosure comes on the heels of media reports that Morgan “quietly slipped away at the end of December […]

By Vikram Barhat |April 20, 2010

2 min read

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Experts: New mutual fund rules unfair

The mutual funds sector is not pleased at all about the newly proposed compliance obligations and their competitive impact on mutual funds. The sector argues funds will be subjected to product arbitrage and hence will be disadvantaged compared with rival products sold under a simpler, less burdensome compliance regime. “Are we really saying this product […]

By Vikram Barhat |April 19, 2010

3 min read

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The RBC Emerging Markets Fund is now available to Canadian investors, RBC Asset Management Inc. announced today. Phil Langham, senior portfolio manager and head of the emerging markets team for RBC Global Asset Management manages the fund, which focuses on long-term, globally diverse investment strategies aimed to take advantage of opportunities in the emerging markets. […]

By Staff |April 19, 2010

3 min read

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Nicola Wealth Management (NWM) has announced that, after adding $150 million in assets in 2009, it has reached $1 billion in assets under management. “Much of our recent growth has come as a result of client satisfaction,” said David Sung, president of Nicola Wealth Management. “Almost 75% of new business is coming through referrals from […]

By Staff |April 16, 2010

3 min read

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POS a ‘huge waste of money’

Discontent with the new point of sale (POS) disclosure regime, proposed by the Canadian Securities Administrators, has become a little more strident. Experts at the Strategy Institute’s recent Mutual Fund Point of Sale Conference expressed more than a hint of disapproval of compliance obligations that require proof that delivery took place within the requirements of […]

By Vikram Barhat |April 16, 2010

3 min read

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PlanPlus Inc. has opened a new permanent office in Shenzhen, China. This choice of location was not taken lightly and is believed to be an ideal position from which to expand the company’s business in Asia, specifically in China and Hong Kong. “Over the past 12 months PlanPlus evaluated a number of alternatives for a […]

By Staff |April 15, 2010

3 min read

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Fund sales slow after RRSP season

Mutual fund sales slowed in March, as the deadline for RRSP contributions passed, according to the latest data from the Investment Funds Institute of Canada (IFIC). Net sales in March were $1.64 billion, with $3.96 billion in long-term fund sales offset by money market redemptions totalling $2.32 billion. In February, total net sales had been […]

By Steven Lamb |April 15, 2010

2 min read

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Details of Prairie credit union giant emerge

The credit union centrals of Alberta, Saskatchewan and Manitoba are getting in on the merger game. The trio are putting the finishing touches on a business strategy that will soon be presented to the 155 credit unions in all three provinces. They are seeking permission to amalgamate their operations in early 2011. If approved, the […]

By Renée Alexander |April 14, 2010

4 min read

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