Industry News

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Briefly:

On the closing days of June, Capital Power Corporation broke a nine month drought of initial public offerings on the TSX. The $500 million IPO issued the spin-off of Epcor Utilities, was the only corporate issue to appear on Canada’s senior equity exchange in the second quarter of 2009 and the first corporate IPO on […]

By Staff |July 7, 2009

4 min read

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CAP advice: Client may misuse lifecycle funds

Lifecycle funds are fast becoming the default investment option for capital accumulation plans (CAPs). If your client is in a CAP, there is a role for the advisor to play in assessing whether the client even needs a lifecycle fund and, if he does, whether it meets his investment objectives. There is always a role […]

By Mark Noble |July 7, 2009

5 min read

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Asset managers may see hefty wage losses: BCG

Providing outsourced asset management services may soon become a less lucrative proposition, according to a report from Boston Consulting Group (BCG). Sweeping losses to client portfolios are already resulting in equally expansive profit declines for asset managers. Average operating margins fell to 34% of net revenues at the end of 2008 — the lowest level […]

By Kanupriya Vashisht |July 7, 2009

2 min read

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Briefly:

BMO Investments and Guardian Group of Funds will amalgamate to form a single legal entity effective November 1. BMO will become the trustee and manager of all BMO Guardian Funds currently managed by Guardian Group of Funds Ltd., and will continue to act as trustee and manager of the BMO Mutual Funds. BMO Investments Inc. […]

By Staff |July 6, 2009

1 min read

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Client pensions benefit from stock rally

One of the key elements to many clients’ retirement plans has been given a boost. Canadian pension funds are breathing a little easier lately thanks to marginal but steady improvements in equity returns and bond prices, according to Mercer’s Pension Health Index. Pension funds are benefiting from the same strong equity returns that have boosted […]

By Jody White |July 6, 2009

2 min read

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Advisors react to commission ban idea

Last week’s opinion piece on commissions by Jason Pereira brought a wave of reader feedback into the Advisor.ca inbox. This came as no surprise, as the suggestion that regulators banning upfront commissions would entail a radical restructuring of the dominant business model, affects not only advisors, but clients, investment fund companies and insurance carriers. Several […]

By Steven Lamb |July 6, 2009

3 min read

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Weak loonie boosts fund returns, sales sag

The slow stock market rally did little to dampen mutual fund performance in June following strong returns in April and May, according to preliminary data from Morningstar Canada. The vast majority of fund indices — 40 out of the 43 that Morningstar tracks — managed to end the month in the black, thanks in part […]

By Steven Lamb |July 3, 2009

4 min read

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Regulating against securities fraud

The United States Securities and Exchange Commission has been under tremendous public scrutiny over the still on-going Bernard Madoff “Ponzi-scheme” scandal. Indeed, the U.S. Congress has accused the SEC of chronic blindness in ignoring credible allegations about Madoff’s improprieties. Unlike the SEC under current U.S. securities laws, Canadian securities regulators directly regulate, with minimal exceptions, […]

By Rebecca Cowdery, Prema Thiele |July 3, 2009

4 min read

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Briefly:

Meridian Credit Union has appointed Gary Genik as their new chief information officer. “As our new CIO, Gary brings the required leadership, experience, expertise and understanding of Meridian to the position,” says Meridian Credit Union president and CEO, Sean Jackson. Genik joined Meridian in 2008 as the director of infrastructure, where he worked on a […]

By Staff |July 3, 2009

1 min read

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Could 70 be the new 65?

The solution to Canada’s workforce conundrum requires some fresh thought and tough choices, according to the C.D. Howe Institute. Some of the suggestions contained in the think tank’s latest report are sure to raise a few eyebrows. Instead of increasing the number of young immigrants to the country to offset the mass exodus of the […]

By Jody White |July 3, 2009

2 min read

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