Industry

Decorative pattern

Briefly:

(April 22, 2008) Patrick Farmer, former AIM Trimark chief investment officer, has resurfaced. He is joining Edgepoint Capital Partners as its chief operating officer and chairman of the board. Farmer is also a shareholder in Cymbria Capital Corp., along with ex-AIM Trimark colleagues Bousada, Geoff MacDonald and Robert Krembil. EdgePoint Capital Partners is a wholly […]

By Staff |April 22, 2008

4 min read

Decorative pattern

On The Shelf:

(April 22, 2008) CIBC Asset Management announced Tuesday that it is changing the investment objectives of five of its Renaissance Investments funds. The company also plans to terminate the Renaissance Global Technology Fund, the Renaissance Global Asset Allocation Fund and the Sequence Portfolios. “We believe the changes to the Renaissance Investments product lineup are ideally […]

By Staff |April 22, 2008

1 min read

Decorative pattern

Better suitability needed in client relationship model

Having a comprehensive, “know your client” process is a best practice for the majority of advisors, but the Investment Dealers Association–proposed client relationship model, which is currently seeking comment from its members and the industry, is going to make this a rule replete with enforcement. Paul Bourque, senior vice-president of member regulation for the IDA, […]

By Mark Noble and Bryan Borzykowski |April 22, 2008

6 min read

Decorative pattern

On The Shelf:

(April 21, 2008) AGF Funds is adding a dedicated emerging markets equities component to the Harmony Overseas Equity Pool, effective May 2, 2008. The target allocation of the pool to emerging markets is set at 10%, with this component of the pool managed by Principal Global Investors. The remaining 90% of assets will continue to […]

By Staff |April 21, 2008

2 min read

Decorative pattern

Briefly:

( (April 21, 2008) Canadians bought foreign, while foreigners bought Canada in February, according to Statistics Canada’s latest report on international transactions in securities. Canadians sharply increased their holdings of foreign securities by $6.1 billion in February. While non-residents acquired $3.8 billion worth of Canadian securities over the month, their largest monthly purchase since April […]

By Staff |April 21, 2008

4 min read

Decorative pattern

Fair value’s

Fair value requirements are aggravating the credit crisis, as institutions are continually forced to write-down holdings, according to more than half of respondents to a new poll of chartered financial analysts (CFAs) — yet the same poll finds overwhelming support for fair value reporting. Fair value requirements, which are already in place in the U.S. […]

By Mark Noble |April 21, 2008

3 min read

Decorative pattern

Fixed income weathers storm: Morningstar

The so-called “smart money” — institutional money — has not fared much better than the rest of the industry. Nearly three out of every four pooled funds in Morningstar Canada’s database lost money during the first quarter of 2008, with the best returns coming from fixed-income funds. It should be noted that the institutional pooled […]

By Mark Noble |April 21, 2008

3 min read

Decorative pattern

Credential offers ABCP buyback deal

“Throughout the ABCP liquidity crisis, Credential Securities and our partner credit unions have been working hard to support our clients. We are proud of this joint effort and of securing a solution in the best interests of the vast majority of our ABCP investors.” says Bob Hague, interim CEO of Credential Financial. “Our focus now […]

By Mark Noble |April 18, 2008

3 min read

Decorative pattern

On The Shelf:

(April 18, 2008) Mackenzie Financial is making some changes to its Keystone Portfolio Funds and Keystone Partner Funds lineups. The firm will take over the investment management responsibilities for the Keystone AIM Trimark Global Equity Fund on June 16, replacing AIM Funds Management Inc. as the fund’s advisor. At that time the fund will be […]

By Staff |April 18, 2008

1 min read

Decorative pattern

Briefly:

(April 18, 2008) Fred Pynn, president and chief investment officer of Bissett Investment Management, will retire from the Calgary-based investment management firm at the end of June, Franklin Templeton Investments announced Friday. The high profile manager is departing the firm after 21 years of managing money there for both retail and institutional clients. Since November […]

By Staff |April 18, 2008

3 min read

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