Industry

Decorative pattern

Briefly:

(September 3, 2008) The Bank of Canada has held the line on interest rates, keeping the key overnight rate at 3% and the Bank Rate at 3.25%. In making its decision, the Bank cited three global developments. So far, two of them are unfolding as the Bank expected, with the U.S. economic slowdown and the […]

By Staff |September 3, 2008

2 min read

Decorative pattern

Resource slump continues: Morningstar

Falling commodity prices battered returns for investors in resource-focused mutual funds in August, according to the latest monthly report from Morningstar Canada. Among the 42 Morningstar Canada fund indices, the hardest hit was the Precious Metals Equity index, which fell 11.3%. It’s the second month in a row that this sector has taken the dubious […]

By Steven Lamb |September 3, 2008

2 min read

Decorative pattern

U.S. rollover assets to double by 2013: study

As more U.S. workers transition to retirement over the next five years, the value of assets they roll over from group retirement plans into advisor-sold retail products is expected to nearly double. According to a new study from the Boston-based Financial Research Corporation (FRC), rollover assets will grow from $260 billion a year in 2007 […]

By Mark Noble |September 3, 2008

4 min read

Decorative pattern

Fund sales steady in August: IFIC

Despite mounting economic insecurity and volatile financial markets, investors continued to pump capital into Canadian mutual funds in August, according to preliminary data from the Investment Funds Institute of Canada. According to the report, net sales totalled between $477.4 million and $977.41 million for the month. IFIC estimates net assets of the industry will be […]

By Staff |September 3, 2008

2 min read

Decorative pattern

On The Shelf:

(September 2, 2008) Manulife Mutual Funds has announced several changes to its simplified prospectus, including merging some funds, launching others and providing new payout options to investors. Under the changes, the Manulife Global Opportunities Class and the Manulife Strategic Income Fund will be combined to create the Manulife Global Opportunities Balanced Fund. The fund will […]

By Staff |September 2, 2008

3 min read

Decorative pattern

Briefly: MX takes over Boston Options Exchange

(September 2, 2008) The Montréal Exchange Inc. has completed the acquisition of a majority ownership interest (53.2%) in the Boston Options Exchange Group, LLC (BOX). “Increasing our investment in BOX grows from confidence in our strategy of expanding our presence in the U.S. equity options market, one of the most dynamic derivatives markets in the […]

By Staff |September 2, 2008

1 min read

Decorative pattern

OECD lowers estimate on Canadian growth

The outlook for the Canadian economy has been downgraded by the Organisation for Economic Co-operation and Development, which projects growth of just 1.2% for 2008. That’s down from an initial estimate of 1.8%. The OECD’s interim assessment places Canada just under the 1.4% average for G7 nations, and places the country on a par with […]

By Steven Lamb |September 2, 2008

2 min read

Decorative pattern

Cross-border tax regime still problematic: C.D. Howe

Although Canada has done much to increase its tax competiveness on cross-border investing, a new report released Tuesday from the C.D. Howe Institute says there is still a lot of work that needs to be done by the federal government to create a tax regime that attracts investment. The report, entitled Finding Silver Linings in […]

By Mark Noble |September 2, 2008

4 min read

Decorative pattern

To hold out

“What should we do about financial planning?” has been a question that has, from time to time, kept regulators awake at night. The officials at the Investment Industry Regulatory Organization of Canada (IIROC) can be expected to sleep better once IIROC’s proposed Financial Planning Rule Minimum Standards for the Provision of Financial Planning Services comes […]

By Rebecca Cowdery and Prema Thiele |September 1, 2008

5 min read

Decorative pattern

Rise of reciprocal orders

Advisors who are banned by their securities commission better not set up shop somewhere else, as the number of reciprocal orders has shot up over the past year. Since 2006, securities commissions across the country have been using reciprocal orders in order to sanction people in one province after they were sanctioned in another. If […]

By Bryan Borzykowski |September 1, 2008

3 min read

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