Industry

U.S. millionaires cautiously optimistic

A new survey shows that millionaires, who currently have a negative attitude about the state of the U.S. and global economies, are optimistic that improvements to the investment climate will improve a year from now. The annual survey, commissioned by Fidelity Investments and released April 29, shows an improvement in the attitudes and behaviour of […]

By Romana King |May 15, 2008

2 min read

Canada must revamp regulation, tax rules: IIAC

Calling for a single regulator is old hat in the financial industry these days, but Ian Russell, president and CEO of the Investment Industry Association of Canada, is trying to take the discussion one step further. On Thursday he gave a speech to the Toronto Board of Trade, where he outlined what it would take […]

By Bryan Borzykowski |May 15, 2008

4 min read

Fund sales lag resurgent performance: IFIC

Total industry sales, which came in at $560.8 million, were down from the $2.6 billion seen in March. Sales were also down from April 2007 ($2.5 billion) but were in line with industry sales over the previous two years, when sales for April were $468 million (2006) and $540 million (2005) respectively. The all-important long-term […]

By Mark Noble |May 15, 2008

3 min read

RBC details writedowns

After months of speculation regarding its exposure to illiquid debt issues, RBC has announced it will take pre-tax writedowns totalling $855 million. On an after-tax basis, however, that amount falls to $420 million. The market is clearly relieved by the news, as the stock was trading higher by 2.8% at 11 a.m. The bank asserted […]

By Steven Lamb |May 14, 2008

2 min read