Industry

Decorative pattern

November fund sales top $2 billion

Mutual fund sales jumped nine-fold in November compared to last year, to $2.3 billion. It’s the best sales total for the industry since March and the strongest November since 2001. “It was generally a hearty month for the industry in terms of aggregates sales numbers,” says Rudy Luukko, investment funds editor at Morningstar Canada. “The […]

By Kate McCaffery |December 15, 2005

2 min read

Decorative pattern

Resources remain a good bet against inflation

The strong Canadian dollar has largely shielded investors from inflation, but the long term trend on prices is pointing higher, according to strategists at Guardian Group of Funds. “We believe this move to higher prices is a long term phenomenon, not merely a statistical spike, and investors need to position their portfolio to preserve their […]

By Steven Lamb |December 14, 2005

4 min read

Decorative pattern

IDA members approve division

Members of the IDA have approved a plan to split the association apart, creating a separate entity to act as an industry representative while the IDA will maintain its role as a self-regulatory organization. Nearly 90% of the members endorsed the division. “We are very pleased that the members have endorsed change that preserves the […]

By Steven Lamb |December 14, 2005

2 min read

Decorative pattern

$70 oil would slow global growth

The new tolerance for high oil prices has stabilized around $70 a barrel. That’s the average price money managers say oil would need to reach in 2006 before its effects would start showing up in the global economy. The Merrill Lynch Survey of Fund Managers for December also found that institutional investors are confident that […]

By Kate McCaffery |December 13, 2005

2 min read

Decorative pattern

Search me

(December 2005) A woman named Debbie contacted me recently after looking me up on the web (this is sometimes called “googling,” after the popular search engine). She inquired whether I was the same Deanne Gage who grew up in Nova Scotia with her parents, sister and cousin. It was, in fact, me and Debbie turned […]

By Deanne Gage |December 12, 2005

3 min read

Decorative pattern

Briefly:

(December 16, 2005) Arrow Hedge Partners says the new Arrow Japan Long/Short Fund is now available for purchase. The equity hedge fund uses a long/short strategy, focused on generating absolute returns by investing in Japanese stocks. The portfolio is relatively concentrated, with 70 to 90 positions held at any one time, Arrow says. “We believe […]

By Staff |December 12, 2005

12 min read

Decorative pattern

CRA warns on RCA abuses

An internal letter suggests Canada’s tax authorities intend to crackdown on what they consider abusive use of retirement compensation arrangements (RCAs). In a recent newsletter, Retirement Compensation Funding Inc. (RCF) pointed to CRA’s response to a question from an assessment office on the deductibility of employees’ contributions to an RCA. CRA used the case as […]

By Doug Watt |December 12, 2005

2 min read

Decorative pattern

M&A activity surges in 2005

Low interest rates and strong corporate balance sheets drove an increase in Canadian merger and acquisition activity in 2005, according to a report by KPMG Corporate Finance. “Last year KPMG Corporate Finance reported a turning point in what had been a declining market,” says Peter Hatges, a corporate finance partner in KPMG’s Canadian advisory services […]

By Steven Lamb |December 12, 2005

3 min read

Decorative pattern

CARP denies trust leak rumour

The focus on income trusts has gone from tax leakage to policy leakage, ever since the Finance Department proposed deterring conversions by cutting dividend taxes. Suspicions about an insider information leak have been running rampant since dividend paying company shares enjoyed an otherwise impromptu rally, just hours before the November 23 proposal was released. The […]

By Steven Lamb |December 9, 2005

2 min read

Decorative pattern

Analyst explains fund manager choice

Those with one eye trained on short term performance numbers might wonder about the rhyme and reason of the selection process behind the Morningstar Fund Manager of the Year awards, but those savvy enough to recognize quality applaud the analyst’s decisions. The task of selecting one person to become Fund Manager of the Year from […]

By Kate McCaffery |December 9, 2005

3 min read

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