Industry

Decorative pattern

Transamerica asks for input from advisors

(April 4, 2005) Transamerica Life is looking at speeding up the underwriting process and using principal-protected notes in its universal life products. Advisors were asked to weigh in on the proposed changes during a webcast held last week. Insurance advisors participating in the 90-minute session were given the chance to influence insurance policy features and […]

By Art Melo |April 4, 2005

2 min read

Decorative pattern

Fund sales maintain momentum in March: IFIC estimate

(April 4, 2005) IFIC reported late on Monday that, based on a sample of preliminary data from some of its members, net new sales for March should be somewhere between $3.3 billion and $3.7 billion. “March sales appear to be continuing with the momentum we built up earlier in the RRSP season,” said Tom Hockin, […]

By Staff |April 4, 2005

1 min read

Decorative pattern

Anonymous trades no evidence of

(April 1, 2005) Front-running — the bane of a portfolio manager putting on a large order, only to have someone in the know step in front of it to profit — is not occurring in systematic fashion on Canadian securities markets. But Market Regulation Services (RS), which supervises trading on Canada’s stock exchanges, has found […]

By Scot Blythe |April 1, 2005

5 min read

Decorative pattern

IDA returns $7 million to fundcos

(April 1, 2005) The IDA is refunding more than $7 million in trailer fees to mutual fund companies who were affected by market timing at brokerage firms. The IDA says it expects the money to be returned to investors. CI will receive $3.6 million, Franklin Templeton $1.2 million, AIC $1.2 million and AGF $1 million. […]

By Doug Watt |April 1, 2005

3 min read

Decorative pattern

Sarbit’s departure seen as damaging to AIC

(March 31, 2005) AIC could be faced with a further run on redemptions once Larry Sarbit cleans out his desk on April 27. The executive vice-president and portfolio manager of the Burlington, Ont.-based company oversees more than $2 billion in the AIC American Focused Fund, including its offshoots, the AIC RSP American Focused Fund and […]

By Geoff Kirbyson |March 31, 2005

3 min read

Decorative pattern

Manulife announces details of Portus guarantee

(March 31, 2005) Manulife Financial is offering clients who were referred to Portus three options to recover 100% of the principal invested in the hedge fund firm, currently under investigation by the Ontario Securities Commission. Clients whose Manulife advisor referred them to Portus can exchange their investment for either a guaranteed principal-protected note, a GIC, […]

By Doug Watt |March 31, 2005

2 min read

Decorative pattern

Banks closing in on insurance business

(March 31, 2005) The big banks want an even larger chunk of client assets. And they’re looking at products like insurance and mutual funds to drive future growth. At a meeting on Wednesday in Montreal, banking executives spent the day talking up performance and explaining how they plan to capture more customer wallet share. Insurance […]

By Kate McCaffery |March 31, 2005

2 min read

Decorative pattern

TSX sets sights on derivatives market

(March 31, 2005) The TSX plans to get back into derivatives, chief executive Richard Nesbitt announced in a speech on Thursday. The exchange can’t get into the business until 2009 when its non-compete agreement runs out. The deal was signed in 1999 when the Montreal Exchange (ME) took over the derivatives trading business and transferred […]

By Kate McCaffery |March 31, 2005

2 min read

Decorative pattern

Manulife standing behind its customers, says CFO

(March 30, 2005) Manulife’s move to protect client funds invested in Portus has been well-received, says the insurance giant’s chief financial officer. But Peter Rubenovitch concedes a regulatory probe of the hedge fund firm created angst among both Manulife advisors and clients. Details of Manulife’s guarantee have not yet been released, but Rubenovitch said on […]

By Doug Watt |March 30, 2005

2 min read

Decorative pattern

AGF to buy ING’s mutual funds

(March 30, 2005) AGF Management has announced an agreement to purchase the mutual fund assets of ING Investment Management. Financial terms were not released. AGF will acquire 14 ING funds with approximately $240 million in assets. Thirteen of those funds will be merged into similar AGF products. For example, the ING Canadian Balanced Fund will […]

By Staff |March 30, 2005

2 min read

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