News and resources for Canada's top financial advisors
Industry
The third quarter of 2008 will not be remembered fondly by investors. The securities industry itself took a hit, with revenues falling 6% from the second quarter, or 7% from Q3 of 2007. According to the quarterly report from the Investment Industry Association of Canada (IIAC), the operating profits for the three months ending September […]
By Steven Lamb |December 15, 2008
2 min read
November was a far kinder month than October for the mutual fund industry, as the pace of redemptions slowed to $909.8 million, according to the Investment Funds Institute of Canada. That’s a massive improvement over the $8.4 billion record set in October, which marked the depths of this fall’s market decline. Industry assets under management […]
It’s far too early to say money managers believe the worst is over, but it certainly seems they have regained their resolve to buy stocks, a new report by Russell Investments suggests. More than 70% of Canadian managers expect positive returns for the S&P/TSX in 2009, according to the Russell Investment Manager Outlook poll for […]
By Mark Noble |December 15, 2008
4 min read
There was almost an unfurled sense of optimism on the United Financial’s conference call to advisors Thursday — a veiled sense of excitement that only value investors can express when they sense the bottom of a market collapse is near. Indeed, opportunity was the key word being thrown out by Joe Canavan, the CEO of […]
By Mark Noble |December 12, 2008
5 min read
(December 12, 2008) Morningstar Research has introduced a new central database for segregated funds. The PALTrak Segregated Funds Module will allow advisors to compare features and attributes of the more than 3,000 segregated funds in Canada, says Scott Mackenzie, president and CEO of Morningstar Research. He says the module will enable advisors to “make truly […]
By Staff |December 12, 2008
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By Kate McCaffery |December 12, 2008
The BCE takeover bid is officially toast. The purchasing group, led by the Ontario Teachers’ Pension Plan, released a statement early this morning acknowledging that it “terminated the agreement in accordance with its terms.” The deal fell through after accounting firm KPMG ruled two weeks ago that BCE wouldn’t pass a solvency test, a key […]
By Staff |December 11, 2008
1 min read
(December 11, 2008) Usually when the holidays approach, retailers count on an increase in consumer spending. But in a downturn like this, it’s a different story. According to the TNS Canadian Facts’ Consumer Confidence Index, the latest measure stands at 83 compared with 95.6 in November. To put this into perspective, the index reached 105.7 […]
Sextant Capital Management says it will “vigorously defend” allegations made by the Ontario Securities Commission on Wednesday that it has “illegally” inflated returns on its Sextant Strategic Opportunities Hedge Fund derived from ownership rights of glaciers. With reported returns in excess of 158% year-to-date, the fund has raised a lot of eyebrows, considering we’re in […]
By Mark Noble |December 11, 2008
3 min read
Invesco Trimark has announced the promotion of three investment analysts to the position of portfolio manager. Erin Greenfield has been appointed portfolio manager of Trimark Global Endeavour Fund/Class and Trimark Global Mid-Cap Equity Private Pool, where he will work alongside Jeff Hyrich. Greenfield joined the company in 2005 and has been working with Hyrich since […]
By Staff |December 10, 2008
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