Industry

Decorative pattern

Fund sales rebound in September: IFIC

Fund sales appear to have bounced back from a nasty slide in August, which saw the industry finish in net redemptions for the first time in three years, according to the September sales estimates released by the Investment Funds Institute of Canada. IFIC says that mutual fund sales will fall somewhere between $620.2 million and […]

By Mark Noble |October 3, 2007

2 min read

Decorative pattern

Briefly:

(October 3, 2007) On Wednesday, Altamira introduced two new products to its Meritage Portfolio lineup — the International Equity Portfolio and the American Equity Portfolio. The new offerings are composed of 100% equities and are supposed to achieve long-term capital growth by investing mostly in U.S. or international equity funds. Investors will need a minimum […]

By Staff |October 3, 2007

2 min read

Decorative pattern

Fund investors happy with product

The vast majority of mutual fund investors are confident their chosen investment vehicles will help them meet their financial goals, according to IFIC’s second annual survey of mutual fund investors. In all, 83% of respondents expressed confidence in funds, making them the most trusted investment, edging out primary residences at 79%. “As a financial product, […]

By Steven Lamb |October 3, 2007

3 min read

Decorative pattern

Dealers urged to rein in direct trading

Despite the digital revolution that has swept through the mutual fund industry, many advisors are still doing things the old-fashioned way — faxing in their trades. Making matters worse, many of these advisors are bypassing their dealers and sending redemption requests directly to their fund companies. At the IFIC Annual Leadership Conference on Tuesday, Scott […]

By Bryan Borzykowski |October 3, 2007

3 min read

Decorative pattern

Alan Radlo rumoured to join CI in January

For months, rumours have been swirling as to which fund company would snag Alan Radlo, the former star manager at Fidelity Investments Canada. Finally, that speculation may be laid to rest. It’s been reported that Radlo will move to the CI Financial Income Fund in January, once his one-year non-compete clause with Boston-based Fidelity expires. […]

By Bryan Borzykowski |October 2, 2007

3 min read

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(October 2, 2007) DBRS is in a whole lot of trouble with the OSFI. Julie Dickson, the banking regulator’s new superintendent says the credit-rating agency is responsible for the turmoil related to Canada’s asset-backed commercial paper markets. She says that Canadians were buying ABCP that had only one rating and limited liquidity lines. While S&P […]

By Staff |October 2, 2007

3 min read

Decorative pattern

Emerging, Asian funds lead third quarter

Despite an August swoon in markets, half of the Canadian mutual fund industry managed to eke out positive returns for the third quarter, according to Morningstar Canada. Morningstar tracks mutual fund performance in 42 fund categories. The best performer was the Asia Pacific ex-Japan equity index, with a quarterly return of 7.3%, fuelled by hot […]

By Scot Blythe |October 2, 2007

2 min read

Decorative pattern

Point-of-sale will streamline business: Regulators

The Canadian mutual fund industry deserves the trust of investors, and current regulatory proposals should only be seen as fine-tuning of a healthy system, according to a panel of regulators. Speaking at the 2007 IFIC Annual Leadership Conference, British Columbia Securities Commission chair Doug Hyndman described the current “torrent” of regulatory reforms as a case […]

By Steven Lamb |October 2, 2007

3 min read

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strong stewards of the environment; devoted to serving local communities and society overall; committed to high labour standards for their own employees and those in their supply chain; dedicated to producing high-quality and safe products; and managing their company in an exemplary and ethical manner. The top 75% of the market capitalization of each sector […]

By Staff |October 1, 2007

3 min read

Decorative pattern

Efficiency key to bigger book size: Study

Advisors who worry an idle minute results in less business might be right, according to new research sponsored by Univeris. The research, conducted by Advisor Impact, surveyed 1,000 Canadian advisors in June 2007 and found a direct correlation between advisors making the most of every minute and the size of their assets under management. “When […]

By Mark Noble |October 1, 2007

3 min read

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