Industry

Decorative pattern

With AIC gone, who’s next?

Wednesday’s announced sale of AIC Ltd.’s mutual fund business to Manulife came as little surprise to many in the industry, but it has revved up the rumour mill on what consolidation plays could lie ahead in the asset management industry. “It’s the cycle; it will continue,” says Dan Hallett, president of Dan Hallett & Associates […]

By Steven Lamb |August 13, 2009

3 min read

Decorative pattern

Manulife buys AIC funds

Manulife Financial has struck a deal to purchase the retail mutual fund business of AIC from Portland Holdings Inc., the private holding company of Michael Lee-Chin. “This is a great fit for Manulife and AIC Limited,” said Paul Rooney, president and CEO of Manulife Canada. “When coupled with Manulife’s solid wealth management services, this agreement […]

By Steven Lamb |August 12, 2009

3 min read

Decorative pattern

Active managers do well, but lag index

Asset managers focused on the large cap space posted their best returns in 22 years in the second quarter as Canadian equity markets roared back to life. But the return of the bull made it difficult to beat the overall benchmark, according to the latest Russell Active Manager Report. The median large cap manager earned […]

By Steven Lamb |August 12, 2009

3 min read

Decorative pattern

Briefly:

The Hennessee Hedge Fund Index continued to outperform the S&P 500 in 2009 advancing 3.37% in July to take the index to a positive 15.5% year to date. “Hedge funds underperformed in July, as we would expect, but were able to capture a good portion of the market rally in July,” says Lee Hennessee, managing […]

By Staff |August 12, 2009

2 min read

Decorative pattern

AIC sale signals end of an era: analysts

Manulife’s purchase of AIC highlights just how much has changed in the mutual fund industry in the last decade. According to a couple of analysts, to reverse a near decade-long trend of redemptions will require addressing the new realities of the business. In the late 1990s, AIC’s fund family was a top performer, posting strong […]

By Mark Noble |August 12, 2009

5 min read

Decorative pattern

Client questions are a good thing

Advisor scandals like the alleged one perpetrated by Earl Jones have clients coming in with a battery of questions about their advisor’s credentials. This is an opportunity because the more a client understands what an advisor does, the more likely they will recognize the value of their services. It seems every major consumer newspaper has […]

By Mark Noble |August 11, 2009

5 min read

Decorative pattern

Briefly:

BluMont Capital Corporation has completed merging the BluMont Canadian Opportunities Fund and the BluMont Hirsh Long/Short Fund into the BluMont Core Hedge Fund. As a result of the merge, the Canadian Opportunities Fund and the Long/Short Fund were terminated on Aug. 7, 2009. The exchange ratio is based on the net asset value of the […]

By Staff |August 11, 2009

2 min read

Decorative pattern

Venture financing in freefall

Canada’s venture capital activity continued to fall in the second quarter, according to a report by Canada’s Venture Capital & Private Equity Association (CVCA). The pace of venture activity in the second quarter was down 42%, compared to 34% in the first quarter of 2009. In nominal dollars, 2009 Q2 had the lowest amount of […]

By Rayann Huang |August 11, 2009

2 min read

Decorative pattern

Briefly:

Certain parts of the Canadian economy are showing signs of improvement, according to market analysis by reinsurance giant, Swiss Re. Real gross domestic product is expected to decline by 2.4% this year; however, with small and gradual improvements in certain sectors, GDP is expected to rise by 2.1% next year. Assuming oil prices remain in […]

By Staff |August 10, 2009

2 min read

Decorative pattern

Regulators finally clarify EMD requirements

Under the new National Instrument 31-103, commonly referred to as registration reform, there is the ability for market participants to apply for exempt market dealer status (EMD). The Canadian Securities Administrators has announced the requirements to obtain EMD status, which greatly reduces the regulatory burden under the new national securities registration. Coming into effect nationally […]

By Mark Noble |August 10, 2009

3 min read

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