Industry News

Decorative pattern

Bear market changes charitable giving landscape

The donation of securities to charity proved lucrative for charities and advisors the past two holiday seasons. This year, with a historic bear market, advisors are probably going to want to look at other more efficient strategies to help their clients donate. The elimination of the capital gains tax on gifted securities created a go-to […]

By Mark Noble |December 16, 2008

4 min read

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Briefly:

The RCMP’s Integrated Market Enforcement Team (“IMET”) has arrested a Harrow, Ont., man for stock market manipulation. Petar Vucicevich has been charged with two counts of fraud. Between July 31, 2006, and December 31, 2006, Vucicevich was interim president and CEO of Sulja Bros. Building Supplies Ltd., a small lumberyard located in Harrow that was […]

By Staff |December 15, 2008

2 min read

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Industry revenues sag in Q3

The third quarter of 2008 will not be remembered fondly by investors. The securities industry itself took a hit, with revenues falling 6% from the second quarter, or 7% from Q3 of 2007. According to the quarterly report from the Investment Industry Association of Canada (IIAC), the operating profits for the three months ending September […]

By Steven Lamb |December 15, 2008

2 min read

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Redemptions slow in November

November was a far kinder month than October for the mutual fund industry, as the pace of redemptions slowed to $909.8 million, according to the Investment Funds Institute of Canada. That’s a massive improvement over the $8.4 billion record set in October, which marked the depths of this fall’s market decline. Industry assets under management […]

By Steven Lamb |December 15, 2008

2 min read

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Is the tide turning? Managers think so

It’s far too early to say money managers believe the worst is over, but it certainly seems they have regained their resolve to buy stocks, a new report by Russell Investments suggests. More than 70% of Canadian managers expect positive returns for the S&P/TSX in 2009, according to the Russell Investment Manager Outlook poll for […]

By Mark Noble |December 15, 2008

4 min read

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Value investors greet market with optimism

There was almost an unfurled sense of optimism on the United Financial’s conference call to advisors Thursday — a veiled sense of excitement that only value investors can express when they sense the bottom of a market collapse is near. Indeed, opportunity was the key word being thrown out by Joe Canavan, the CEO of […]

By Mark Noble |December 12, 2008

5 min read

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Briefly:

(December 12, 2008) Morningstar Research has introduced a new central database for segregated funds. The PALTrak Segregated Funds Module will allow advisors to compare features and attributes of the more than 3,000 segregated funds in Canada, says Scott Mackenzie, president and CEO of Morningstar Research. He says the module will enable advisors to “make truly […]

By Staff |December 12, 2008

2 min read

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Week in review: December 8-12, 2008

Welcome to the weekly roundup of news affecting you, as covered by Advisor.ca and our sister publication, Conseiller.ca. Read this section every week to catch up on the news you missed, or click here and subscribe to get regular updates sent to your inbox or BlackBerry. Skip to: Quick links, stories this week. Or click […]

By Kate McCaffery |December 12, 2008

5 min read

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BCE deal kaput

The BCE takeover bid is officially toast. The purchasing group, led by the Ontario Teachers’ Pension Plan, released a statement early this morning acknowledging that it “terminated the agreement in accordance with its terms.” The deal fell through after accounting firm KPMG ruled two weeks ago that BCE wouldn’t pass a solvency test, a key […]

By Staff |December 11, 2008

1 min read

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Briefly:

(December 11, 2008) Usually when the holidays approach, retailers count on an increase in consumer spending. But in a downturn like this, it’s a different story. According to the TNS Canadian Facts’ Consumer Confidence Index, the latest measure stands at 83 compared with 95.6 in November. To put this into perspective, the index reached 105.7 […]

By Staff |December 11, 2008

2 min read

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