Industry

Decorative pattern

Briefly:

(August 24, 2007) In a sign that the money market liquidity crisis may already be abating, French bank BNP Paribas has announced that it will resume trading in the three funds it suspended from redemptions on August 7. Valuations, sales and redemption will resume on August 28 for ABS Euribor and ABS Eonia, while Parvest […]

By Staff |August 24, 2007

3 min read

Decorative pattern

Liquidity crisis eases in paper market

(August 24, 2007) There are signs that the liquidity crunch for third-party asset-backed commercial paper (ABCP) may be easing, as the company behind the securitized debt has managed to find buyers for its latest issuance. Coventree Inc., the structured finance firm at the centre of the Canadian liquidity crunch in asset-backed commercial paper, has announced […]

By Steven Lamb |August 24, 2007

3 min read

Decorative pattern

Briefly:

(August 23, 2007) Half of Canadians do not know what factors can affect their credit score, according to a survey conducted on behalf of the Financial Consumer Agency of Canada, despite the near universality of credit facilities, ranging from credit cards to lines of credit. The study also found that only 15% had requested a […]

By Staff |August 23, 2007

3 min read

Decorative pattern

ABCP risk overblown?

DundeeWealth joins the growing list of financial services firms that have had to admit that they have significant holdings of out-of-favour asset-backed commercial paper. It also said none of the mutual funds of Dundee’s subsidiary Dynamic Mutual Funds has any exposure to ABCP or CDO subprime exposure. Earlier this week, National Bank bought back more […]

By Mark Noble |August 23, 2007

3 min read

Decorative pattern

Briefly:

(August 22, 2007) AIM Trimark has announced the impending departure of high-profile fund manager Geoff MacDonald, best known for managing the equity portions of three income oriented funds and the Trimark Canadian Endeavour Fund. “Geoff MacDonald has been a talented investor and mentor of people at AIM Trimark,” says Tye Bousada, lead portfolio manager of […]

By Staff |August 22, 2007

2 min read

Decorative pattern

Further reassurances offered on commercial paper

Canadian financial institutions continue to reassure the public that their investments are stable and safe, as another firm announced it would buy back potentially illiquid asset-backed commercial paper from its money market funds. Industrial Alliance is the latest firm to assume the risk associated with these investments, promising to pay 100% of their purchase price […]

By Steven Lamb |August 22, 2007

2 min read

Decorative pattern

Banks go online to secure

The over-45 crowd may be where the money is right now, but Canada’s banking industry is turning its focus to recruiting customers while they are still in school to establish their brand and create lifelong clientele for their products. The country’s two largest banks have determined that one of the key mediums through which to […]

By Mark Noble |August 22, 2007

4 min read

Decorative pattern

Briefly:

(August 21, 2007) It had to happen — a Canadian bank is now on Facebook, the popular social networking website. Declaring itself to be the “first Canadian financial institution” to engage students through such a site, TD Canada Trust has opened the TD Money Lounge. “Many students spend a lot of time in online social […]

By Staff |August 21, 2007

4 min read

Decorative pattern

Alts capitalize on volatile market

There’s not a whole lot to cheer about in the markets lately, unless, perhaps, you’re in alternative investments. Market corrections and volatility are the proving grounds for many alternative investment funds to demonstrate why investors need to be wary about maintaining portfolios heavily dependent on the positive performance of equities. Phil Schmitt, chairman of the […]

By Mark Noble |August 21, 2007

4 min read

Decorative pattern

Briefly:

(August 20, 2007) Muslim investors who want their investments to reflect their faith have a new option, as frontierAlt has announced the launch of Canada’s first Shari’ah-compliant income fund, the frontierAlt Oasis Global Income Fund. Adhering to Islamic law can be difficult for income managers because the religion prohibits the collection of interest on debts, […]

By Staff |August 20, 2007

4 min read

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