Industry News

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Briefly:

(July 15, 2008) The Bank of Canada held steady on its trend-setting overnight rate, maintaining its target of 3.00% for the key rate. The operating band remains unchanged, as does the bank rate, at 3.25%. The Bank pointed to continued weakness in the U.S. economy and “ongoing turbulence in global financial markets” as factors in […]

By Staff |July 15, 2008

3 min read

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Canadians play it safe in June: IFIC

Canadians continued to park their mutual fund investments in money market funds in June, with 75% of net new sales landing in the short-term category, according to the latest figures from the Investment Funds Institute of Canada. Among the firms that report to IFIC, sales totalled $1.6 billion, but only about $400 million ended up […]

By Steven Lamb |July 15, 2008

3 min read

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Feds issue rules for trust conversions

The key announcement from the Department of Finance on the trust conversion rules is that there will be no tax incurred by either unitholders or the income trust to make the conversion to a corporation before the 2011 deadline. For the most part, those who watch the trust sector say this announcement will have little […]

By Mark Noble |July 15, 2008

4 min read

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On The Shelf:

(July 14, 2008) IA Clarington Investments has announced an expansion to its corporate class fund lineup, adding five multi-manager portfolios and two mutual funds. The added portfolios include the series A and M units of the Distinction Prudent, Conservative, Balanced, Growth, and Bold portfolios. Series A and F units of the IA Clarington Canadian Leaders […]

By Staff |July 14, 2008

2 min read

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Briefly: Dealmakers share key traits: KPMG

(July 14, 2008) Even in times of weak growth and tough financing arrangements, some companies still manage to make good deals in the merger and acquisition market. According to KPMG, these firms share key characteristics that allow them to forge ahead. “Our analysis reveals some specific steps that M&A teams can take to replicate the […]

By Staff |July 14, 2008

1 min read

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Pre-emptive withdrawals one way to combat RRIF depletion

In its report, the C.D. Howe Institute argued the federal government should consider scrapping the RRIF minimum withdrawal rules or adapt the 1992 formula still in use to reflect significant changes that have occurred in both the interest rate environment and the life expectancy of retirees. In today’s investment climate, retirees with traditionally conservative income-oriented […]

By Mark Noble |July 14, 2008

4 min read

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(July 11, 2008) Everyone needs advice now and again, including the Bank of Canada. The BoC announced Friday that it was hiring two university professors as special advisors. Angelo Melino, professor of economics at the University of Toronto, and Frank Milne, professor of economics and finance at Queen’s University, will join the bank for the […]

By Staff |July 11, 2008

3 min read

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Fight erupts over designation initials

The IAFP is claiming the IARFC is infringing on its trademarks. The IAFP says the common usage of the first two letters of each designation to mean “registered financial” is too similar. In addition, it says the acronyms of the designations sound too similar. Thirdly, the IAFP says the American IARFC’s slogan, “Separate yourself from […]

By Mark Noble |July 11, 2008

4 min read

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On The Shelf:

(July 10, 2008) AIM Trimark has announced enhancements to two of its Core Bundles, adding exchange-traded funds to the asset mix and improving the clarity of client reports. Effective immediately, the investment strategies of AIM Trimark Core American Equity Class will permit the fund to invest up to 50% of its assets in units of […]

By Staff |July 10, 2008

1 min read

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(July 10, 2008) The head of the Lebanese Canadian Bank says a lawsuit against his company is without merit, and the bank will defend itself vigorously against accusations that it played a role in financing terror. Georges Zard Abou Jaoude, chairman and general manager of Lebanese Canadian Bank, says that his bank is fully compliant […]

By Staff |July 10, 2008

1 min read

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