Industry News

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Sunk by an iceberg? Sextant hits back at OSC allegations

Sextant Capital Management says it will “vigorously defend” allegations made by the Ontario Securities Commission on Wednesday that it has “illegally” inflated returns on its Sextant Strategic Opportunities Hedge Fund derived from ownership rights of glaciers. With reported returns in excess of 158% year-to-date, the fund has raised a lot of eyebrows, considering we’re in […]

By Mark Noble |December 11, 2008

3 min read

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Invesco Trimark has announced the promotion of three investment analysts to the position of portfolio manager. Erin Greenfield has been appointed portfolio manager of Trimark Global Endeavour Fund/Class and Trimark Global Mid-Cap Equity Private Pool, where he will work alongside Jeff Hyrich. Greenfield joined the company in 2005 and has been working with Hyrich since […]

By Staff |December 10, 2008

3 min read

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Outsourcing tasks, not risk

New OSFI guidelines related to outsourcing appear, at a glance, to be privacy- and risk management-related. They are, but a closer look shows that Draft Guideline B-10 is practically a how-to business manual for managing outsourced business activities, functions and processes. Fortunately for many in the industry, the guideline issued by the Office of the […]

By Kate McCaffery |December 10, 2008

4 min read

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Pondering the next “shoe to drop”

If there’s one good thing about how drastic the market declines have been, it’s that there are unlikely to be many more unpleasant surprises, a panel of experts assembled by the CFA Institute argued. But there are still a few problem areas they have their eyes on. Gillian Tett, assistant editor of the Financial Times, […]

By Mark Noble |December 9, 2008

4 min read

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The Canada Revenue Agency has announced details of the tax rates and deductions that will be in effect for 2009, based on consumer price index data as reported by Statistics Canada. The basic personal amount rises from 2008’s level of $9,600 to $10,100 for 2009. The age amount creeps higher by $132 to $5,408. The […]

By Staff |December 9, 2008

2 min read

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The Canadian real estate market is entering a cyclical downturn but should avoid the cataclysmic devaluation seen in the U.S., according to a report from RBC Economics. “Many of the factors that triggered the collapse in the United States are either absent or of much lower significance on this side of the border,” said Robert […]

By Staff |December 8, 2008

2 min read

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Robert Rizzuto, CFP, CLU, CH.F.C. Paul Mulvihill, CFP, CLU, CH.F.C. Betty Anne Howard, CFP, CLU Caron Czorny, FLMI, CFP, CLU, CH.F.C. Mark Colosimo, CFP, CLU, CH.F.C. Ian Colborne, CFP, CLU, CH.F.C. Cindy Bowden, CLU, CH.F.C. Garth Bennett, CFP, CLU Garth Bennett, CFP, CLU Cindy Bowden, CLU, CH.F.C. Ian Colborne, CFP, CLU, CH.F.C. Mark Colosimo, CFP, […]

By Staff |December 5, 2008

3 min read

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Week in review: December 1 to 5, 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 5, 2008

9 min read

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Autopiloting assets

Mutual fund manufacturers are always in search of sticky assets. Lately they have been hard to find, as record volatility unleashes substantial reductions. That doesn’t mean new money isn’t coming in. But fear keeps a lot of it on the sidelines. Unless you’re working on autopilot. That’s what employer-sponsored plans do: Group RRSPs, defined contribution […]

By Scot Blythe |December 5, 2008

4 min read

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(December 4, 2008) Despite numerous warnings and audit actions, the Canada Revenue Agency says taxpayers are still participating in tax shelter gifting schemes. The agency has already denied $2.5 billion in claimed donations, and it’s vowing to audit all tax shelter gifting arrangements going forward. Currently over 65,000 taxpayers who participated in these schemes have […]

By Staff |December 4, 2008

3 min read

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