Industry

Decorative pattern

Hanging up: U.S. to restrict advisor cold calling

(July 21, 2003) The United States is moving ahead with a plan to restrict unsolicited telemarketing phone calls, a change observers say could spell the end of “cold calling,” a popular method among some advisors to generate new sales leads. The Federal Trade Commission, which regulates the U.S. communications industry, will introduce a “do not […]

By Doug Watt |July 21, 2003

3 min read

Decorative pattern

Briefly:

(July 25, 2003) Hedge fund firm Norshield Financial has launched the Univest Global Fund, a fund of funds that Norshield says allows investors to customize their exposure to funds held within Univest. The fund offers investors access to eight hedging strategies overseen by 17 managers. The Univest fund and its affiliated funds already have a […]

By Staff |July 21, 2003

4 min read

Decorative pattern

No relief for fund dealers, brokers if postal workers strike, regulators say

(July 18, 2003) Mutual fund dealers and brokerages will still be required to deliver documents to investors, even if the country’s postal workers walk off the job. In notices to members issued yesterday, both the MFDA and the IDA noted that there are no regulatory exemptions available in the event of a mail disruption. More […]

By Doug Watt |July 18, 2003

2 min read

Decorative pattern

MERs falling? Investor Economics weighs in on fund fee debate

(July 17, 2003) There’s no question that management expense ratio (MER) fees for mutual funds have risen over time, but most of those increases came in the late 1990s, according to a recent Insight report from fund researcher Investor Economics. MERs have actually been falling since 2001, the report concludes. Following on the heels of […]

By Doug Watt |July 17, 2003

3 min read

Decorative pattern

IFIC worries about possible postal strike

(July 16, 2003) A strike at Canada Post would result in “serious cost consequences” for mutual fund firms, which depend on mail service for the delivery of documents to investors, IFIC says. The association for Canada’s fund industry has written a letter to federal transport minister David Collenette, expressing concern about the possibility of a […]

By Doug Watt |July 16, 2003

2 min read

Decorative pattern

Bank of Canada surprises with rate cut

(July 15, 2003) The Bank of Canada has taken many people off guard by cutting its target overnight lending rate by 25 basis points this morning, taking the key interest rate down to 3%. The bank cited the surprise hits taken by the economy in the first half of the year, including the Ontario outbreak […]

By Steven Lamb |July 15, 2003

2 min read

Decorative pattern

The great disconnect: Fund sales continue to slump as performance improves

Tactical fund managers bullish on equities, analyst says (July 15, 2003) Canadian investors continue to bail out of mutual funds, despite three straight months of strong fund performance amid a burgeoning stock market rally. According to data released today by IFIC, net fund redemptions reached $577 million in June. That’s a slight improvement from May, […]

By Doug Watt |July 15, 2003

2 min read

Decorative pattern

Briefly:

> (July 18, 2003) Altamira is closing down four of its funds, saying that the rates of return are too low to justify their existence. The asset values of the Global Telecommunications Fund, RSP Japanese Opportunity Fund, RSP Global Diversified Fund and RSP Biotechnology Fund have dropped so much that the fixed costs of continuing […]

By Staff |July 14, 2003

4 min read

Decorative pattern

Passport model focus of finance ministers’ consultations

(July 14, 2003) Hot on the heels of the wise persons committee, six provincial finance ministers are in Toronto this week for consultations on reforming the country’s securities regulatory system. While the wise persons committee has been asked to take a broad look at securities reform, the provincial initiative is somewhat more focused, paying specific […]

By Doug Watt |July 14, 2003

3 min read

Decorative pattern

OSC repeats call for national, pan-Canadian securities regulator

(July 11, 2003) The Ontario Securities Commission (OSC) says it’s time Canada moved to a national securities regulatory structure, although not necessarily one run by the federal government. In a written submission to the federal wise persons committee charged with reviewing the country’s regulatory system, OSC chair David Brown reiterated his support for a pan-Canadian […]

By Doug Watt |July 11, 2003

2 min read

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