Industry News

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Equity indices tank in September: Morningstar

With equity markets dropping over the last month, it’s no surprise that 41 Morningstar Fund indices experienced losses in September, while just two — both money market-related — saw near-zero returns. “Equity markets plunged, and investment funds along with them, in the face of the worsening U.S. credit crisis,” says Morningstar Canada in a release. […]

By Bryan Borzykowski |October 2, 2008

2 min read

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Global scale

As the first non-actuary appointed to head Standard Life, Joseph Iannicelli, chief executive officer of The Standard Life Assurance Company of Canada, is confident his company can compete, both in the Canadian and in the International market. Considered a large global company, Iannicelli wants to put Standard Life front and centre in Canada. Reporter Mark […]

By Mark Noble |October 1, 2008

10 min read

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Managing the mosaic

It might sound outrageous, but back in the day Canadian investors generally stayed on in the cities they were born in. Today’s retirees travel across the country for months on end, while working stiffs pick up and move to another province if the right job pops up. While that’s great for Canada’s economic growth, all […]

By Bryan Borzykowski |October 1, 2008

8 min read

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Briefly:

(October 1, 2008) The Standard Life Assurance Company of Canada has launched a new website to provide advisors and investors with insight into how their Standard Life mutual and segregated funds are managed. “In today’s competitive environment, we need to proactively position Standard Life Investments’ recognized institutional expertise to the retail marketplace,” said Michel Fortin, […]

By Staff |October 1, 2008

2 min read

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(September 30, 2008) Northwater Capital Management Inc. announced on Tuesday that it has been advised one of the hedge funds in which it invested has been the victim of an alleged fraud. If the allegations are true, NCMI believes that it will have a material negative impact on the net asset value of the affected […]

By Staff |September 30, 2008

3 min read

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Hartford launches Jenkins’s new fund

A day after what was arguably the worst day in the markets in more than a generation, Richard Jenkins still feels confident about his new firm, Black Creek Investment Management, launching a new mutual fund, which will be offered by Hartford Mutual Funds. Jenkins, a former lead manager at Trimark Investments, will helm the new […]

By Mark Noble |September 30, 2008

3 min read

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(September 29, 2008) On January 2, Canadians will be able to deposit up to $5,000 in their tax-free savings accounts, but there’s no reason to wait until then to open the new account. Scotiabank is letting its clients register for TFSAs now, though they won’t be able to put money into the accounts until the […]

By Staff |September 29, 2008

2 min read

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(September 26, 2008) While Canada’s financial institutions are relatively safe compared to what’s happening in the U.S. right now, that doesn’t mean some of this country’s banks and insurance companies haven’t been affected by the meltdown, including Sun Life Financial. The Toronto-based insurance giant revealed Friday that it has exposure to embattled American bank Washington […]

By Staff |September 26, 2008

3 min read

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(September 25, 2008) The current upheaval in global financial markets may be cathartic, forcing a painful but necessary restructuring of the system, according to Bank of Canada Governor Mark Carney. While the U.S. government wrangles over a bail out for its distressed banking sector, Carney suggested that other nations may need to undertake similar measures. […]

By Staff |September 25, 2008

3 min read

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On The Shelf: Manulife announces mutual fund mergers

(September 24, 2008) Manulife Mutual Funds has announced it will undertake a handful of fund mergers, having received approval from its Independent Review Committee. The Manulife U.S. Core Fund will be merged into Manulife Mawer U.S. Equity Fund, while the Manulife AIM Canadian First Class will be merged into Manulife Canadian Equity Class. The Manulife […]

By Staff |September 24, 2008

1 min read

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