Industry

Decorative pattern

Strong dollar hurting pension plans

Despite the promise of cheap shopping south of the border, a soaring loonie isn’t necessarily good news — especially for pension plans. A survey released by RBC Dexia Investor Services on Friday said the rising Canadian dollar had a negative impact on foreign equity returns last quarter. While the MSCI World Index rose 6% in […]

By Bryan Borzykowski |July 20, 2007

3 min read

Decorative pattern

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(July 19, 2007) The Investment Dealers Association of Canada has slapped a $30,000 fine on Martin Brunetta, an approved person at the Montreal branch of CIBC World Markets Inc. In a settlement agreement with the IDA, Brunetta admitted that in January 2004 he failed to use due diligence to remain informed of the essential facts […]

By Staff |July 19, 2007

2 min read

Decorative pattern

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(July 18, 2007) Manulife Mutual Funds has launched a new pricing model for clients with more than $100,000 invested in a single fund. The “elite pricing series” provides a fixed management fee, reduced fund expenses and a customizable advisor fee. “With this new pricing structure, advisors can reduce management expense ratios for their mutual fund […]

By Staff |July 18, 2007

2 min read

Decorative pattern

Oil could top $100 a barrel by the end of 2008

Clients looking to cash in on Canada’s oil sands will be happy to hear that the price of a barrel of oil could top $100 by the end of next year. At least that’s what a new CIBC report predicts. Jeff Rubin, chief economist and chief strategist at CIBC World Markets, says major oil-producing countries […]

By Bryan Borzykowski |July 18, 2007

4 min read

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(July 17, 2007) The president of PlanPlus Inc. was recognized for a research paper he penned at the 2007 Financial Frontiers Awards, an annual worldwide competition sponsored by the Journal of Financial Planning. Shawn Brayman and one other entrant were awarded Silver Level Awards in a year when no Gold Level winners were announced. Brayman’s […]

By Staff |July 17, 2007

2 min read

Decorative pattern

More retirees than ever, census finds

Advisors looking to add some new clients to their roster might want to look at retirees. With more than 4 million seniors living in Canada, helping an aging population through their golden years could mean big business. On Tuesday Statistics Canada released its 2006 census findings on age and sex. The survey showed that more […]

By Bryan Borzykowski |July 17, 2007

4 min read

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(July 16, 2007) Mackenzie Financial has named Ian Ainsworth as interim chief investment officer effective immediately. He will also continue to serve as lead manager of Mackenzie Universal North American Growth Class. Ainsworth succeeds Peter Dawkins, who has been CIO since 2003, and who Mackenzie says is “leaving the company to pursue other opportunities.” Mackenzie […]

By Staff |July 16, 2007

2 min read

Decorative pattern

A year’s worth of sales in six months

Long-term net fund sales dropped from $2.56 billion in May to around $1.9 billion last month, according to the latest data from the Investment Funds Institute of Canada. This can likely be attributed to the traditional summer slowdown rather than any weakness in the industry. In fact, last month marked the best June sales number […]

By Mark Noble |July 16, 2007

3 min read

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(July 13, 2007) A Chicago jury has found Conrad Black guilty of three counts of mail fraud and one more-serious count of obstruction of justice for his conduct in the alleged misappropriation of more than $60 million from Hollinger International. The guilty verdict on the four of 13 charges that Black was facing means he […]

By Staff |July 13, 2007

3 min read

Decorative pattern

Defensive posture recommended

With the long-running bull market delivering healthy gains in the first half of the year, investors may want to adopt a more defensive position, according to a strategy note out of Richardson Partners Financial. The S&P/TSX Composite Index turned in a six-month return of 7.7% at the end of June, despite some rough patches along […]

By Steven Lamb |July 13, 2007

3 min read

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