News and resources for Canada's top financial advisors
Industry
(September 5, 2007) On Wednesday morning the Bank of Canada announced that it would keep the overnight rate target at 4.5%. The overnight rate’s operating band is also unchanged at 4.75%. This news likely surprised some people as there was a real possibility of a rate cut, due to America’s sub-prime woes. But the BoC […]
By Staff |September 5, 2007
4 min read
August was not a good month for capital markets, and it showed in the performance of Canadian mutual funds. Morningstar Canada says the majority of its Canada fund indexes had negative returns because of fallout from the sub-prime mortgage crisis in the U.S. and other credit-quality issues. “Overall, the meltdown in the asset-backed commercial paper […]
By Mark Noble |September 5, 2007
3 min read
The mutual fund industry took a hit in August, as market volatility not only impaired returns, but also took a bite out of sales — a big bite. Based on a preliminary sample of reports from its members, IFIC estimates that the industry as a whole slipped into net redemptions, with investors pulling out between […]
By Steven Lamb |September 5, 2007
(September 4, 2007) GrowthWorks Manitoba Ltd. has struck a deal to purchase ENSIS Management Inc. in a transaction that is expected to close in early November. The ENSIS Growth Fund is a venture capital fund that provides Manitoba entrepreneurs with “patient” equity capital. The GrowthWorks transaction is expected to give ENSIS Growth national exposure and […]
By Staff |September 4, 2007
Clients who avoid letting greed or fear dictate their investment decisions almost always outperform their market-timing peers. Such were the findings of a 2007 Quantitative Investment Behaviour Study (QAIB) of U.S. investors by DALBAR Canada. Jody Bullen, spokesperson from DALBAR Canada, says the performance gap exists solely because emotions and human influence often cloud investing […]
By Mark Noble |September 4, 2007
For most provinces, the passport system is a decent alternative to a single securities regulator, but not for Ontario, the only jurisdiction refusing to sign on to the new system. Instead of scrapping the plans to break down provincial regulation barriers, the Canadian Securities Administrators announced Friday that it has found a way to include […]
By Bryan Borzykowski |September 4, 2007
(August 31, 2007) Scotiabank has signed an agreement to purchase 79% of Banco del Desarrollo, Chile’s seventh largest bank for $810 million US. The bank says it’s the first stage in a plan to purchase up to 100% of Banco del Desarrollo. Scotiabank says Banco del Desarrollo, which has total assets of more than $5.1 […]
By Staff |August 31, 2007
The Million Dollar Round Table has a new president — and he’s Canadian. Vancouver’s Jim Rogers of Rogers Group Financial takes the helm of the international organization of top insurance advisors September 1. Rogers’s first order of business is to strengthen the organization’s North American numbers to match the group’s success in other parts of […]
By Deanne Gage |August 31, 2007
2 min read
Offering an investment loan to help finance a client’s mutual fund purchases might seem like a good idea, but one Ottawa-based lawyer questions the practice. Harold Geller, an expert in financial advisor liability, says offering a client an investment loan can be a conflict of interest, pointing out that the more money advisors put into […]
By Bryan Borzykowski |August 31, 2007
(August 30, 2007) Desjardins Family of Funds is seeking unitholder approval for the merger of some funds and changes to investment objectives. Among the changes, Desjardins would like to merge its Select Canadian Equity Fund and the Desjardins CI Canadian Investment Fund into Desjardins Canadian Equity Value Fund. Also on the block, Desjardins Fidelity Canadian […]
By Staff |August 30, 2007
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