Industry News

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On The Shelf: JovFunds plans fund merger

(May 15, 2008) JovFunds Management has announced it plans to merge two of its mutual funds into the Jov Leon Frazer Dividend Fund within the next 90 days. The affected funds are the Jov Leon Frazer Balanced Fund and the Jov Diversified Monthly Income Fund. Investors in the funds being merged will be given 60 […]

By Staff |May 15, 2008

1 min read

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(May 15, 2008) Canada’s nationwide love affair with the real estate market appears to be cooling off, according to a report out of Scotia Economics. So far, the price decline of existing homes is visible only when inflation is factored in, as price increases in nominal terms have eased to single digits on a national […]

By Staff |May 15, 2008

2 min read

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U.S. millionaires cautiously optimistic

A new survey shows that millionaires, who currently have a negative attitude about the state of the U.S. and global economies, are optimistic that improvements to the investment climate will improve a year from now. The annual survey, commissioned by Fidelity Investments and released April 29, shows an improvement in the attitudes and behaviour of […]

By Romana King |May 15, 2008

2 min read

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Canada must revamp regulation, tax rules: IIAC

Calling for a single regulator is old hat in the financial industry these days, but Ian Russell, president and CEO of the Investment Industry Association of Canada, is trying to take the discussion one step further. On Thursday he gave a speech to the Toronto Board of Trade, where he outlined what it would take […]

By Bryan Borzykowski |May 15, 2008

4 min read

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Fund sales lag resurgent performance: IFIC

Total industry sales, which came in at $560.8 million, were down from the $2.6 billion seen in March. Sales were also down from April 2007 ($2.5 billion) but were in line with industry sales over the previous two years, when sales for April were $468 million (2006) and $540 million (2005) respectively. The all-important long-term […]

By Mark Noble |May 15, 2008

3 min read

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RBC details writedowns

After months of speculation regarding its exposure to illiquid debt issues, RBC has announced it will take pre-tax writedowns totalling $855 million. On an after-tax basis, however, that amount falls to $420 million. The market is clearly relieved by the news, as the stock was trading higher by 2.8% at 11 a.m. The bank asserted […]

By Steven Lamb |May 14, 2008

2 min read

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On The Shelf: Horizons BetaPro scraps mutual funds

Horizons BetaPro U.S. Dollar Bear Plus Fund Horizons BetaPro U.S. Dollar Bull Plus Fund Horizons BetaPro Canadian Bond Bear Plus Fund Horizons BetaPro Canadian Bond Bull Plus Fund Horizons BetaPro NASDAQ-100 Bear Plus Fund Horizons BetaPro NASDAQ-100 Bull Plus Fund Horizons BetaPro NASDAQ-100 Bull Plus Fund Horizons BetaPro NASDAQ-100 Bear Plus Fund Horizons BetaPro Canadian […]

By Staff |May 14, 2008

2 min read

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(May 14, 2008) Fraud and corruption are substantial risks to companies with global operations, but according to a report from Ernst & Young, Canadian companies are experiencing less of these problems than their foreign counterparts. In a global survey, the accountancy found that 80% of North American companies in the study reported no incidents of […]

By Staff |May 14, 2008

2 min read

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Alpha platform set to launch in September

Investors have been given their first glimpse of the bank-owned market platform, Alpha Alternative Trading System (ATS), which is set for launch in September. There are a number of ATSs in Canada, but Alpha has been hotly anticipated because of the names involved in its creation. The project was announced in May 2007 by nine […]

By Mark Noble |May 14, 2008

2 min read

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Donation process should mirror investing

With another tax-filing deadline having passed, now might be a good time to discuss tax planning strategies for this year with your clients, while the topic is still fresh in their mind. Many of them would likely rather donate less to Ottawa, and more to a cause close to their heart. Investors wanting to donate […]

By Steven Lamb |May 14, 2008

3 min read

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