Industry News

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On The Shelf: Franklin Templeton streamlines fund lineup

(March 24, 2008) Franklin Templeton Investments has announced several proposed mergers and changes to the investment objectives of certain funds, which unitholders will be able to vote on at a special meeting on or about May 16, 2008, in Toronto. Franklin Templeton is proposing changes to the Bissett Income Trust and Dividend Fund’s investment objective, […]

By Staff |March 24, 2008

2 min read

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(March 24, 2008) Climate change is the greatest strategic threat, according to Ernst & amp; Young’s list of the top 10 insurance company risks. Ernst & Young says changes in weather patterns caused by global climate change increase the underlying probability of insured loss from floods, windstorms and other natural phenomena. As a result, insurers […]

By Staff |March 24, 2008

2 min read

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Stay calm, stay in Canada: Haber

Canadian investors should sit tight and keep an eye out for bargains on their home market, according to one of the country’s biggest investment fund companies. Fidelity Investments is sticking to its “Go Canada” thesis, citing the long-term effects of the creation of a new middle class in the developing world. “So much has already […]

By Steven Lamb |March 24, 2008

4 min read

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(March 20, 2008) BMO Financial Group has reached agreements with the counterparties to its Apex and Sitka trusts, allowing the bank breathing space to restructure the trusts. “This was a complex deal that was achieved through the efforts of both the investors and the swap counterparties,” said Tom Milroy, CEO of BMO Capital Markets. “The […]

By Staff |March 20, 2008

2 min read

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Foreigners bought Canadian in January: StatsCan

Foreign investors continued to pour money into Canada in January, the latest month for which StatsCan has data. Non-resident investors bought $916 million worth of Canadian securities, down from $1.3 billion in December. Debt issues were the most popular investments, as equity markets fell off a cliff in January. Foreign investors snapped up $3.3 billion […]

By Steven Lamb |March 20, 2008

2 min read

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Credit union offers exposure to local microfinance

Microfinance lending came to prominence in 2006, when one of its pioneers, Muhammad Yunus, won the Nobel Peace Prize. Responding to its growing popularity, Vancity, Canada’s largest credit union, is now allocating some of the assets in one its SRI pooled products to microfinance. A portion of the assets in its Shared Growth term deposit […]

By Mark Noble |March 20, 2008

3 min read

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(March 19, 2008) Canadians are increasingly aggressive in paying down their mortgages, according to a survey by Canada Mortgage and Housing Corporation. Just under 80% of new homebuyers said they plan to pay off the debt as quickly as possible. “This study confirms that Canadians remain fundamentally cautious when it comes to their mortgage debt,” […]

By Staff |March 19, 2008

2 min read

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Canada not immune to U.S. downturn

Slow down, don’t move too fast; we’ve got to make the money last — particularly since a new economic forecast, released today by TD Financial, says Canada’s economic slowdown is on par with our southern neighbour’s economic downturn. The projection by TD economists shows that Canada’s slowdown is occurring at the same time and to […]

By Romana King |March 19, 2008

3 min read

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Options dwindle for burned investors

Investor advocates say a restructuring plan approval vote is looking to be the only chance left for 1,600 retail investors to try to recover the money they invested in non-bank-sponsored asset-backed commercial paper. Brian Hunter, a Calgary-based engineer, has $658,000 of his retirement savings frozen in ABCP in an account with Canaccord Capital. Hunter says […]

By Mark Noble |March 19, 2008

5 min read

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(March 18, 2008) The U.S. Federal Open Market Committee has opted to cut its key Fed Funds rate by “only” 75 basis points. The Fed Funds rate now stands at 2.25%, while the discount rate has been cut to 2.50%. “Recent information indicates that the outlook for economic activity has weakened further,” the FOMC said […]

By Staff |March 18, 2008

3 min read

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