Industry News

Decorative pattern

Jovian steps up presence in ETF business

Jovian Capital continues to expand its influence in the Canadian exchange-traded fund (ETF) market, with the purchase of a 50% ownership stake of independent investment firm Hahn Investment Stewards. The move is important, because it creates a strategic alliance between one of the country’s largest ETF providers and a pioneer in their usage. Use of […]

By Mark Noble |March 5, 2009

3 min read

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Bertrand leaves TMX; rumoured heading for Caisse

Luc Bertrand, the driving force behind the Montréal Exchange and its merger with TSX Group, has announced that he will step down from his positions with both companies, effective June 30, 2009. “I have had a wonderful career working with the MX team, and am proud of our achievements in creating TMX Group, fulfilling a […]

By Steven Lamb |March 5, 2009

2 min read

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Coast Capital asks why people love bank fees

Coast Capital Savings doesn’t understand why so many British Columbians are still paying bank fees, and is running a humorous, though pointed campaign to remind consumers they don’t have to. Lawrie Ferguson, senior vice-president of marketing for the Surrey, B.C.-based credit union, said with people counting their pennies, it was a good time to ramp […]

By Eve Lazarus |March 5, 2009

2 min read

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Briefly: “Boomers research online, trade little” and more news

While their grandchildren may be growing up online, boomers are becoming increasingly comfortable with the Internet as well, according to a survey by Yahoo! Canada and Leger Marketing. Canadian boomers have embraced the Internet in many ways, including social networking and reading the news, but they are especially keen on managing their finances online. The […]

By Staff |March 5, 2009

1 min read

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Fewer features, higher fees future for GMWBs: Manulife

While guaranteed minimum withdrawal benefit funds have been a huge hit in the Canadian marketplace, at least one company isn’t looking to gain shelf space anytime soon. “We’re not excited about gaining market share until the product is more compatible with where we’re headed,” Manulife senior executive vice-present and chief financial officer Peter Rubenovitch told […]

By Scot Blythe |March 4, 2009

3 min read

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Fidelity’s Team Canada moves to Canada

Fidelity Investments Canada announced Wednesday that Team Canada, its well-regarded 25-member Canadian equities research and portfolio management group, will be relocating to Canada from its current Boston headquarters. However, it does so without long-time leader, Bob Haber. Fidelity’s Team Canada is an anomaly; its leadership was not located in Canada. Nevertheless, the team has a […]

By Mark Noble |March 4, 2009

4 min read

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Sales results point to abysmal RRSP season

February is usually a boom time for mutual fund sales, as investors shore up their RRSP contributions to meet the early March deadline. Not this year. Sales appear quite low versus last February’s, according to preliminary sales data from the Investment Fund Industry of Canada (IFIC), something that will be viewed as a big disappointment […]

By Mark Noble |March 4, 2009

3 min read

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Briefly: “Thow waives extradition hearing” and more news

Disgraced former investment advisor Ian Thow has waived his right to an extradition hearing, meaning he’ll likely soon be in Canada to face charges of investment fraud. Thow, who’s been accused by some of bilking former clients in Victoria, B.C., by more than $30 million, appeared in United States Federal Court in Seattle, Washington, regarding […]

By Staff |March 4, 2009

4 min read

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Equity funds continue long decline: Morningstar

The vast majority of Canadian equity mutual funds saw declines in February, further adding to the cumulative losses of the past six months, according to data from Morningstar Canada. The double-digit losses prevalent in previous months subsided, but Morningstar points out that much like in January, almost all of the Morningstar Canada Fund indexes that […]

By Mark Noble |March 3, 2009

2 min read

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AIG to spin off operations

AIG will spin off its major operations into independent companies in what CEO Edward Liddy calls “the most extensive corporate restructuring in American history.” The financial services conglomerate is “too big” to reposition as a single entity, and the company’s latest steps will maintain its core businesses as it works to strengthen its capital base […]

By Terri Goveia |March 3, 2009

3 min read

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