Industry News

Decorative pattern

Briefly: “U.S. hedge fund managers rake it in” and more news

It’s probably cold comfort for most of your clients, but at least some people were making money in 2008. The latest issue of Alpha Magazine, a journal of the American hedge fund industry, reveals that four managers managed to pocket more than $1 billion each. The top earner was James Simons of Renaissance Technologies Corp., […]

By Staff |March 25, 2009

3 min read

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Managers see little downside to gold

Has gold replaced oil as the favoured long position speculative trade? Maybe. There’s no denying the precious metal is popular right now — along with government bonds, it’s performed remarkably well in the downturn. Proponents of gold investing say there is a fundamental reason to allocate a portion of a client’s portfolio to gold: it […]

By Mark Noble |March 24, 2009

5 min read

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Briefly: “Gluskin Sheff hires David Rosenberg” and more news

Gluskin Sheff + Associates has announced the firm has hired David Rosenberg, managing director, chief North American economist of Bank of America and formerly chief North American economist of Merrill Lynch. He will join Gluskin Sheff as chief economist and strategist in May. He will report to William Webb, deputy chief investment officer. “We are […]

By Staff |March 24, 2009

2 min read

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The case for caution

In 2009, investors faced the the worst bear market of the post-war period. And advisors had a Herculean challenge in trying to determine whether it was a good time to seek out bargains in stocks or if caution should reign. There were money managers who remain positioned for the latter. For Christine Hughes, senior vice-president […]

By Mark Noble |March 23, 2009

4 min read

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Tech fund poor substitute for LSIF credit

The venture capital industry has applauded the Ontario government’s new fund for innovative high-tech companies, but some experts also say that if the province really wants to get money into the hands of businesses, it should bring back tax credits on certain retail vehicles. “It’s very hard to imagine any solution that doesn’t encompass the […]

By Stefan Dubowski |March 23, 2009

3 min read

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Briefly: “Seniors risk falls to avoid stigma” and more news

Canadian seniors are apparently willing to risk injury just to avoid using assistive devices such as walkers, canes and motor scooters, according to a survey by Ipsos-Reid. The poll found that seven in 10 Canadian aged 70 and over reported some physical limitation that affected their quality of life but that 46% do not use […]

By Staff |March 23, 2009

3 min read

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Maximizing a severance plan

Severance planning is a strange dynamic for advisors, and it’s generally a negative and frustrating process for clients. For advisors, it creates a lump sum planning opportunity during a time when revenue opportunities are limited. If you’re not maximizing your clients’ wealth, be warned. Peter Merrick, a CFP and president of merrickwealth.com, is an expert […]

By Mark Noble |March 20, 2009

5 min read

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Briefly: “Canadians still spending: StatsCan” and more news

The constant barrage of gloom hasn’t deterred Canadian consumers from emptying their wallets; Statistics Canada reports that retail sales grew during the month of January. According to StatsCan, retail sales rose 1.9% in January, to $33.7 billion. Granted, the jump comes after the worst Christmas shopping season in 15 years, after sales declined 5.2% in […]

By Staff |March 20, 2009

3 min read

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Tax harmonization not just “Ontario’s problem”

If the government of Ontario implements a harmonized sales tax in its next budget, expect the costs of mutual funds, ETFs and — most dramatically — segregated funds to rise substantially across Canada. Some in the industry have brushed off an added sales tax as an Ontario problem of little financial consequence to the end […]

By Mark Noble |March 19, 2009

4 min read

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Ratings agency turns negative on insurers

The outlook for the Canadian insurance industry has taken another hit, as the entire sector was downgraded by U.S. financial service ratings agency, A.M. Best. The agency has revised its outlook on the Canadian life insurance sector from “stable” to “negative.” “While nearly all life insurers in Canada have been negatively impacted in some way […]

By Steven Lamb |March 19, 2009

2 min read

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