Industry

Decorative pattern

Don’t rule out equities for the TFSA

Tax-free savings accounts can be appealing long-term investment tools for affluent clients without access to funds right away. Depressed equity prices are offering a unique historical opportunity for investors to maximize the upside potential of the first $5,000 they put into their TFSA. In 2009, the TFSA was greeted warmly. But for affluent clients, it […]

By Mark Noble |January 6, 2009

5 min read

Decorative pattern

Caisse’s Guay resigns as president, CEO

The president and CEO of the massive Caisse de dépôt et placement du Québec, Richard Guay, has resigned citing personal reasons, effective January 7, 2009. “The board of directors has accepted his resignation. It understands Mr. Guay’s decision and has thanked him for his contribution to the Caisse’s management since May 2008,” said Caisse chairman […]

By Steven Lamb |January 5, 2009

2 min read

Decorative pattern

Briefly:

There’s an old newsroom maxim: If it bleeds, it leads. Apparently, Americans feel the press has been overzealous in its portrayal of the economic slowdown as being just short of the Apocalypse. In a new poll, Opinion Research Corporation found that 77% of Americans feel the media are making the economic situation worse by feeding […]

By Staff |January 5, 2009

3 min read

Decorative pattern

Equity funds suffer

There’s just no way to put lipstick on the pig — 2008 was quite simply a terrible year for equity fund performance. In fact, it was one of the worst years ever, according to preliminary performance data released today by Morningstar Canada. How bad was it? Morningstar calls the year a “disaster for equity funds.” […]

By Mark Noble |January 5, 2009

3 min read

Decorative pattern

Fund redemptions slow in December

The slump in mutual fund sales continued in December, with long-term funds mired in redemptions, but the sell-off has slowed dramatically since its peak in October, according to preliminary sales data from the Investment Funds Institute of Canada. Industry-wide net redemptions are estimated to be somewhere between $481 million and $981 million, compared to redemptions […]

By Steven Lamb |January 5, 2009

2 min read

Decorative pattern

Regulated alpha

Hedge funds have more than a trillion dollars under management and promise an alpha, or excess return over benchmarks, on the order of 5% — or some US$50 billion. Is this plausible? And, in these days of scandal, are such promises overstated by lack of regulation? Douglas Cumming, an associate professor at York University’s Schulich […]

By Scot Blythe |January 2, 2009

4 min read

Decorative pattern

Gaining volume

Over the past couple of years, ETFs have gained traction among advisors, as offerings have been rounded out. But how many ETFs can Canada support? We took this question to Som Seif, president of Claymore Investments. Q: What’s the volume share of ETFs trading on the TSX? A: At the beginning of the year it […]

By Mark Noble |January 1, 2009

10 min read

Decorative pattern

ABCP resolution within sight

A new agreement on the restructuring of the $32-billion third-party asset-backed commercial paper (ABCP) market has brought investors within reach of their money and one step closer to turning the page on one of Canada’s longest-running financial sagas. A new agreement to swap the illiquid commercial paper for new bonds replaced the one struck in […]

By Jody White |December 31, 2008

2 min read

Decorative pattern

Advocis fund nearing $3 million

A forgotten cabinet minister, the attractiveness of a tax deduction and the prospect of feel-good treatment have combined to boost the Advocis Century Initiative to nearly $3 million in pledges in its quest to raise $5 million in voluntary contributions from members. The Century Initiative (CI) begins 2009 with over $2,919,679.05 in pledges, and $1,640,130.48 […]

By Al Emid |December 31, 2008

3 min read

Decorative pattern

Briefly:

Mavrix Fund Management has announced it will file an application with the Canadian Securities Administrators, seeking a 90-day extension for a required reduction in private investments held in the Mavrix Small Companies Fund. The original deadline was December 29, 2008. Regulations require that the fund hold no more than 15% of its assets in private […]

By Staff |December 30, 2008

2 min read

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