Industry News

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Industry

Fund industry hit with redemptions

The Canadian mutual fund industry was hit with redemptions in October, with investors pulling out somewhere between $262.2 million and $762.2 million, according to preliminary data from the Investment Funds Institute of Canada. “Markets took a breather at the end of October which capped off seven months of exceptional growth in assets under management,” said […]

By Steven Lamb |November 4, 2009

2 min read

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Industry

Macquarie aims to shake up broker world

With its recent acquisition of Blackmont Capital, Australia’s Macquarie Group has set out to create a boutique broker/advisor shop with an international deal flow. If the model succeeds, it could drastically alter the way brokers do business in Canada. The transactional nature of broker businesses has generally ridden out the storm much better than mutual […]

By Mark Noble |November 4, 2009

4 min read

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Industry

Briefly:

The U.S. Federal Open Market Committee (FOMC) is holding steady on interest rates, suggesting that raising rates from the current target band of 0% to 0.25% could stifle the fledging economic recovery. While economic activity has improved since the FOMC’s September meeting, conditions in the financial markets “were roughly unchanged,” the Fed said in its […]

By Staff |November 4, 2009

2 min read

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Industry

Equity fund returns fall in October: Morningstar

The leaves on Canada’s maple trees weren’t the only things turning red in October. Stock markets ended their seven-month growth streak, sending the monthly returns of most equity funds into the red as well, according to data from Morningstar Canada. Only nine of 43 mutual fund indexes tracked by Morningstar turned in a positive performance, […]

By Steven Lamb |November 3, 2009

2 min read