Industry News

Decorative pattern

Briefly:

(November 6, 2008) Manulife Financial has turned to Canada’s six largest banks for $3 billion in financing, after posting its biggest profit decline in seven years. The five-year term loan will be fully drawn down by November 20 and will be deployed as necessary, to provide additional regulatory capital. “We are very pleased to have […]

By Staff |November 6, 2008

3 min read

Decorative pattern

Supplementary pension plan gains steam

Not only is British Columbia’s proposed new pension plan the latest in a string of privately-financed plans cropping up around the world, but it may represent a step towards a national supplementary pension plan. The first of its kind in Canada, B.C.’s plan is expected to provide pension coverage for the 75% of British Columbians […]

By Jody White |November 4, 2008

2 min read

Decorative pattern

No surprises in fund performance — it’s all bad

Investors looking for any bright spots in mutual fund performance in October are going to be sorely disappointed. As markets hit new depths in October, so too did the overwhelming majority of Canadian mutual funds, according to preliminary performance data released today by Morningstar Canada. All but four of the 43 Morningstar Canada fund indexes […]

By Mark Noble |November 4, 2008

3 min read

Decorative pattern

Briefly:

(November 3, 2008) The volume of mergers and acquisitions taking place has tapered off dramatically over the past couple of years, slowing to a trickle before the credit markets froze up in September. But those deals that are still being made are happening more quickly than ever, according to a report from Towers Perrin. “Market […]

By Staff |November 3, 2008

3 min read

Decorative pattern

DundeeWealth sells Quebec dealerships

DundeeWealth is extricating itself from the MFDA and insurance advisor channels in Quebec. The company announced Monday it is selling the Quebec arm of its mutual fund and insurance advisor dealerships — which includes about 410 advisors — to Investia Financial Services, a dealership subsidiary of Industrial Alliance (IA). DundeeWealth’s president and CEO, David Goodman, […]

By Mark Noble |November 3, 2008

4 min read

Decorative pattern

Briefly:

(October 31, 2008) If our approach to finances is learned behaviour, there’s some troubling news about the next generation of clients. A recent study commissioned by Credit Canada found that only 14% of parents are having in-depth discussions about money with their teenaged children. Without guidance on the importance of saving — and in many […]

By Staff |October 31, 2008

3 min read

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OSFI effective, but could be more nimble: survey

85% of insurance company CEOs are satisfied with OSFI as a regulator 85% of insurance company CEOs are satisfied with OSFI as a regulator 88% of insurance company CEOs say it does well in contributing to public confidence in the financial services industry 93% of insurance company CEOs say it is an effective monitor 68% […]

By Terri Goveia |October 31, 2008

2 min read

Decorative pattern

Discipline proves its mettle in down market

Many traditional value investment mandates had been severely beaten by the benchmarks in the last couple of years, but with the rapid downturn of the last three months, there are some signs that disciplined value mandates in particular are beginning to demonstrate that patience can pay off — if only moderately — in this type […]

By Mark Noble |October 31, 2008

4 min read

Decorative pattern

Pension plans need more than quick-fix

As reports surface of a behind-the-scenes push for temporary pension funding relief by several plan sponsors, observers say it may be time to overhaul the rules on solvency funding. Some companies have admitted that their required pension plan contributions may push them into bankruptcy amid the economic crisis. They are looking for a similar relief […]

By Jody White |October 30, 2008

4 min read

Decorative pattern

Briefly: Market concern rising among women

(October 30, 2008) Canadian women are less confident in their investments than they were a year ago, according to a survey conducted for TD Waterhouse. More than half (54%) of women said they were worried about their investments, compared to 47% last year. “Our poll results indicate that female investor confidence has declined year-over year […]

By Staff |October 30, 2008

1 min read

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