Industry News

Decorative pattern

Overconfidence breeds poor returns

Investors are an awfully smart bunch…just ask them. You’d have a hard time finding one that would say they are below average. Expectations of personal success are generally far higher than probability actually warrant, says Michael S. Falk, CFA, vice-president and chief investment officer, ProManage, a U.S.-based financial services firm. The objective of the presentation […]

By Vikram Barhat |March 31, 2010

2 min read

Decorative pattern

Focus on quality in range-bound market

In economic terms, the planets seem to be lining up. First the markets rebounded from their recessionary lows. More recently, the Bank of Canada has been warning that interest rate hikes are on their way. Today there was even more evidence that Canada’s recovery is in full swing, as Statistics Canada reported January marked the […]

By Steven Lamb |March 31, 2010

4 min read

Decorative pattern

Managers bullish on Canadian, emerging markets equities

A majority of investment managers continue to express bullishness on Canadian equities, and emerging markets according to the latest Russell Canada Investment Manager Outlook. “This quarter, 69% of investment managers surveyed say they are bullish toward Canadian equities,” says Sadiq Adatia, chief investment officer with Russell Canada. “But what’s striking is the slow-but-steady decline in […]

By Jody White |March 30, 2010

1 min read

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Briefly:

Canada has nudged out the U.S. in terms of being a cost competitive business location, according to KPMG’s Competitive Alternatives 2010 study. The last time the study was conducted, in 2008, the two countries were virtually tied. Canada now holds a 5% cost advantage. The study examined 10 jurisdictions in North America, Europe and Asia […]

By Staff |March 30, 2010

3 min read

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Opinion: Active investing works

Rarely a week goes by when we don’t read that passive investing through ETFs and low fee index mutual funds is a much better way to go than investing in actively managed mutual funds. And we can count on the authors reminding us that the average mutual fund has lower returns than the benchmark index. […]

By Don Macfarlane, CFP |March 30, 2010

3 min read

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Industry speaks out against federal tax plan

The federal government’s plan to amend the Excise Tax Act, including the definition of “financial services,” is causing a stir within the industry. The proposed changes could see GST charged on broker commissions and the continued inclusion of discretionary management services. Discretionary investment management fees have been subject to GST since 1991, while broker commissions […]

By Steven Lamb |March 29, 2010

2 min read

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Briefly:

Now that your clients are focused on filing their taxes, it might be time to consider what they should do with their tax refund. RRSP contributions, credit card balance reduction and effective management of mortgages are but a few ways to maximize tax returns. A report from BMO says that in 2009, Canadians on average […]

By Staff |March 29, 2010

4 min read

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Clever e-mails try to cover insider trading

Blog Polls I’ve read a lot of Securities and Exchange Commission complaints over the years and, every once in a while, one stands out. The Commission’s March 24th complaint against Igor Poteroba, an investment banker who worked in the UBS Securities Global Healthcare Group is one such document. Filed in U.S. District Court for the […]

By Philip Porado |March 26, 2010

1 min read

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Ontario must support Toronto financial services: TFSA

The Toronto Financial Services Alliance (TFSA), a public/private initiative to improve Toronto’s competitiveness, is eager to work with governments to make Toronto a leader in the global financial industry. Janet Ecker, president of TFSA, welcomes the provincial budget while confirming the group’s commitment to help Toronto grow as a financial services hub. “Having the Ontario […]

By Vikram Barhat |March 26, 2010

2 min read

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Mackenzie embarks on executive search

Mackenzie Financial’s message couldn’t be more clear, following the announcement earlier this week that David Feather, president of Mackenzie Financial Services Inc., was leaving the company. “It’s business as usual,” says Charles R. Sims, president and CEO of Mackenzie Financial Corp. and Mackenzie Inc. “We won’t miss a beat.” Sims says the company is assessing […]

By Steven Lamb |March 26, 2010

2 min read

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