Industry News

Decorative pattern

Briefly: “Asset mix key to protecting retirement income” and more news

For investors with a strong constitution, the current market malaise may very well represent some “good buying opportunities,” as described by Prime Minister Harper. For Canadians planning to retire within the next few years, the situation holds far less promise. However, new research suggests that a few changes to one’s portfolio mix can protect against […]

By Staff |March 19, 2009

3 min read

Decorative pattern

Bullish sentiment, but no one’s buying

The signs of economic apocalypse are everywhere: job cuts measured in the tens of thousands; residential foreclosure rates rising; and stock markets bouncing along at multi-year lows. But now there are signs of renewed investor optimism. In fact, investors appear to be in the best mood since December 2005, according to the latest Merrill Lynch […]

By Steven Lamb |March 18, 2009

2 min read

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Briefly: “More than 200 U.S. hedge funds close” and more news

Between the bear market run on the stock market and the Bernard Madoff Ponzi scheme scandal, the American hedge fund industry has come under heavy pressure. While politicians clamour for more regulation of the industry, the funds themselves are blowing up. Last year, more than 200 hedge funds or fund families either began to liquidate […]

By Staff |March 18, 2009

3 min read

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Toronto’s future as a financial capital

Strolling through a community fair in upper New York State during summer 2006, a Canadian journalist encountered a booth festooned with banners advertising easy availability of mortgages and asked for information. “These are what are known as sub-prime mortgages,” the booth attendant said. “They’re for people who have trouble getting ‘regular’ mortgages.” The journalist remarked […]

By Al Emid |March 17, 2009

4 min read

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Briefly: “U.S. housing starts jump” and more news

American housing starts rebounded sharply in February, surprising most analysts with a 22% increase, to a seasonally adjusted annual rate of 583,000. Benjamin Reitzes, economist at BMO Economics, called the increase in multiple-family dwellings “unsustainable” at 82.3%. “Despite the big increase in starts, the average of the first two months of Q1 remains well below […]

By Staff |March 17, 2009

3 min read

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Fund industry rallies against Ontario tax proposal

Canada’s mutual fund industry is concerned a proposal to harmonize the province’s sales tax with the federal GST would unfairly punish the industry and investors who use its products. The Ontario Liberal government has openly mused about harmonizating its 8% PST with the 5% GST, which would allow the ailing manufacturing sector and struggling local […]

By Mark Noble |March 16, 2009

4 min read

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Investors rediscover bond funds: IFIC

Canadians were clearly still spooked in February, investing just under $1.7 billion in mutual funds in February, typically prime time for the industry as investors make last-minute contributions to their RRSPs. Money market funds alone accounted for $1.4 billion. The rather paltry $258.9 million that flowed into long-term funds marked the first time the group […]

By Steven Lamb |March 16, 2009

3 min read

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Industry beaten up in 2008: IIAC

The securities industry took a hit in the final quarter of 2008, as a massive stock market sell-off swept the sector, according to the latest quarterly report from the Investment Industry Association of Canada (IIAC). Operating revenues fell by 7% in the final three months, while operating profits were beaten down by 46%, to $3.9 […]

By Steven Lamb |March 16, 2009

2 min read

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Briefly: “Net worth fell by year end” and more news

By now it should come as no surprise that Canadian household net worth was eroded in the second half of 2008. The per capita loss, released by StatsCan, is at $14,000. Household net worth on a per capita basis fell from $179,300 at the end of Q2 to $165,300 by year-end. Between the end of […]

By Staff |March 16, 2009

2 min read

Decorative pattern

Investors willing to pay for predictability: study

A new study conducted by a pair of Canadian business professors using the British version of the popular game show Deal or No Deal has found people have a tendency to sacrifice profit for predictability. In the game show Deal or No Deal, hosted in North America by Howie Mandel, contestants randomly pick a briefcase, […]

By Mark Noble |March 13, 2009

5 min read

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