Industry News

Decorative pattern

Energy’s run isn’t over: Rubin

Despite Canada’s proximity to the economically troubled USA, there’s no need for Canucks to take a “defensive posture” when it comes to investing, says Jeff Rubin a chief economist at CIBC World Markets. “There is more than sufficient momentum in both energy and materials stocks to warrant stock market exposure in the here and now,” […]

By Bryan Borzykowski |March 5, 2008

3 min read

Decorative pattern

TFSA sparks little innovation…for now

With the federal budget passing first reading in the House of Commons on Tuesday, product providers now have to start the process of building the ideal tax-free savings account (TFSA) solution for 2009. The problem is, with contribution room building at only $5,000 per year, it will be a while before the TFSA will really […]

By Mark Noble |March 5, 2008

3 min read

Decorative pattern

By The Book:

(March 4, 2008) The Superior Court of Québec has thrown out a lawsuit against the Montréal Exchange filed by 39 former independent traders. The plaintiffs had challenged the exchange’s right to automate its markets, claiming they were given inadequate notice of the implementation. The court has awarded the exchange costs. • • • MFDA issues […]

By Staff |March 4, 2008

1 min read

Decorative pattern

Briefly:

(March 4, 2008) The new governor of the Bank of Canada, Mark Carney, has made his first interest rate announcement, slashing the key overnight rate by 50 basis points to 3.5%. While the economy had unfolded as expected throughout 2007, the Bank said in a statement that “there are clear signs that the U.S. economy […]

By Staff |March 4, 2008

2 min read

Decorative pattern

Resource funds make a killing: Morningstar

Last month’s run-up in resource and commodity prices helped investment funds that target those sectors post strong results, according to performance data released today by Morningstar Canada. The Morningstar Natural Resources Equity Fund Index gained 9.8% for the month, the best return among the 42 Morningstar Canada fund indexes. The Morningstar Precious Metals Equity Fund […]

By Mark Noble |March 4, 2008

2 min read

Decorative pattern

Fund sales see some recovery: IFIC

Sales of mutual funds rebounded in February, but that may be cold comfort — January was dubbed the worst month ever. According to preliminary estimates from the Investment Funds Institute of Canada, net sales rang in at between $5.9 billion and $6.5 billion. “Canadian investors have sent a signal that they are still committed to […]

By Steven Lamb |March 4, 2008

3 min read

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Jenkins latest to leave AIM Trimark

AIM Trimark, once home to a slew of high-profile managers, has reported yet another high-profile departure. Richard Jenkins is the latest top-level fund manager to leave the firm, joining his old colleague Bill Kanko at Black Creek Investment Management. Jenkins’s move comes less than two months after Tye Bousada left AIM to start his own […]

By Bryan Borzykowski |March 3, 2008

5 min read

Decorative pattern

On The Shelf:

(March 3, 2008) Global financial markets have been shaken by problems in the U.S. housing market, with mortgage defaults rising and property values plunging. That isn’t stopping Franklin Templeton Investments from launching the Franklin Global Real Estate Fund. The corporate-class fund is being positioned as a means for investors to diversify beyond the typical asset […]

By Staff |March 3, 2008

3 min read

Decorative pattern

Investors see a bear, CFAs say

Sixty-five per cent of Canadian chartered financial analysts (CFAs) have described investor sentiment as decidedly bearish this RRSP season, according to a new poll. The poll of 1,770 CFAs — conducted for Business News Network — found that another 32% thought investor sentiment was flat and only 3% reported their clients were bullish on RRSP […]

By Mark Noble |March 3, 2008

3 min read

Decorative pattern

Briefly:

(February 29, 2008) Bank of Montreal has confirmed that it is still trying to restructure its Apex Trust and Sitka Trust, despite the notes of those trusts being downgraded to junk status by DBRS on Thursday. The two trusts are heavily encumbered by exposure to illiquid asset-backed commercial paper and have been unable to find […]

By Staff |February 29, 2008

2 min read

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