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Mackenzie Financial has called unitholder meeting to consider the fate of the Mackenzie Saxon U.S. Small Cap Fund and Mackenzie Saxon Global Small Cap Fund. Investors in the two funds will be asked to vote on a proposal to terminate the funds, subject to a recommendation to proceed from the Independent Review Committee (IRC) of […]
By Staff |August 5, 2010
2 min read
The second quarter marked a rough patch for active investment managers, as European sovereign debt woes spawned wide-spread volatility in both the fixed income and equity markets. Among large cap Canadian equity managers, only 37% beat the S&P/TSX Composite Index, according to the latest Russell Active Manager Report. That’s a precipitous drop from the 75% […]
By Steven Lamb |August 5, 2010
3 min read
Sheila Crummey, partner, McMillan; Arnie Cader, president, Delphi Corp.; Linda Betts, founder, The Heritage Wealth Strategy Group; Frank Archibald, partner, McMillan LLP; Frank Archibald, partner, McMillan LLP; Linda Betts, founder, The Heritage Wealth Strategy Group; Arnie Cader, president, Delphi Corp.; Sheila Crummey, partner, McMillan; Tony Ianni, president, Ernst & Young Orenda Corporate Finance; Stephen Landau, […]
By Steven Lamb |August 4, 2010
After helping clients with their financial, estate and retirement planning, advisors often have a strong relationship with their clients. That puts us in a unique position to discuss succession planning with those clients who are also business owners. In many cases, we’ve already implemented plans or products to protect their assets and the value of […]
August 4, 2010
July proved to be the best month so far this year for equity fund investors, reversing the disappointing trend set in the second quarter, according to Morningstar Canada. Overall, only two of the 24 equity-based Morningstar Canada Fund Indexes failed to join the rally. The global financial services sector helped boost returns, as fears over […]
Russell Managed Yield Class has added new income distribution options, aimed at increasing income but not taxes. Investors now have annual distribution options of 3% or 5% that are paid monthly. The distributions are made up of return of capital, rather than interest income. Russell claims tax savings can be found through the distribution options […]
By Staff |August 4, 2010
Almost every succession plan for business owners involves the disposition of corporate shares. It might happen as part of an estate freeze, other reorganization or an outright sale to the next generation. Although share dispositions, including sales and transfers, often result in the realization of capital gains, there are opportunities clients should certainly take advantage […]
By Gena Katz |August 4, 2010
The loss of investor confidence is a predictable public response when the financial tide turns against continuous wealth accumulation. Too often it triggers knee-jerk investment decisions with investors, later settling into resigned expectation of low growth. So what can advisors pass on to their clients at a time like this? Advisors say they want to […]
By Vikram Barhat |August 4, 2010
Scotiabank has expanded its international footprint with the purchase of The Royal Bank of Scotland’s wholesale banking operations in Colombia. This is Scotia’s debut into the country, making it the first Canadian-owned wholesale institution with a presence in Colombia. The deal is effective immediately, with the bank having secured all necessary regulatory approvals. The new […]
By Steven Lamb |August 3, 2010
Bank of Montreal is giving Christine A. Edwards, partner in Winston & Strawn’s corporate practice group, a seat on its board of directors. A 25-year veteran of the financial services industry, the Chicago-based Edwards focuses on the regulation of the financial services industry, corporate governance and public and regulatory policy issues for Winston & Strawn. […]
By Staff |August 3, 2010
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