Industry News

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RBC / PH&N merger: What it means for clients

Obtaining more business from the advisor channel is one of the driving forces behind the newly merged RBC Asset Management and Phillips, Hager & North, according to the two men behind the deal. On Thursday, RBC announced it would acquire PH&N by offering shareholders 27 million RBC common shares. The combined firm will manage more […]

By Mark Noble |February 22, 2008

5 min read

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On The Shelf:

(February 21, 2008) Alternative investments firm frontierAlt Funds Management has renamed its All Terrain World Fund the Opportunistic Global Fund. The rebranding reflects the merger of the firm’s All Terrain Canada Fund into its All Terrain World Fund, which was completed in January. Both funds were managed by Avenue Investment Management, which continues to manage […]

By Staff |February 21, 2008

2 min read

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By The Book:

(February 21, 2008) Raymond James Ltd. is in the Investment Dealers Association’s doghouse. On Thursday, the IDA fined the financial company $140,000 and another $10,000 in costs for violating one of the organization’s bylaws. According to the IDA, the company facilitated the purchase of shares of certain private companies in client RRSP accounts without having […]

By Staff |February 21, 2008

3 min read

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M&A activity breaks record, but slows in Q4

Despite a slowdown in the fourth quarter, Canada’s mergers and acquisitions activity broke records in 2007. Crosbie & Company reports that the M&A market saw $370 billion worth of deals, up 44% from 2006’s total of $257 billion. “The new record was posted on the back of some of the largest deals in Canadian M&A […]

By Bryan Borzykowski |February 21, 2008

3 min read

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Flaherty names securities regulation panel

The outcomes, principles and performance measures needed to pursue a Canadian advantage in global capital markets; The outcomes, principles and performance measures needed to pursue a Canadian advantage in global capital markets; How Canada could best promote and advance proportionate, more principles-based regulation; How this could facilitate and be reinforced by better enforcement; How this […]

By Steven Lamb |February 21, 2008

3 min read

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RBC to acquire PH&N

Phillips, Hager & North Investment Management Ltd., Canada’s best-known, low-cost fund manager, has been snapped up by Royal Bank of Canada. The deal, where PH&N shareholders would receive 27 million RBC common shares, would put RBC in striking distance of becoming the country’s largest mutual fund manager, with $101 billion in assets under management, compared […]

February 21, 2008

2 min read

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By The Book:

(February 20, 2008) It appears that the long pursuit of Andrew Rankin by the Ontario Securities Commission may be finally nearing an end. The OSC will hold a hearing in Toronto on Thursday, pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c.S.5. At the hearing, the commission will decide whether it […]

By Staff |February 20, 2008

2 min read

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On The Shelf: AIM Trimark reopens bond fund

(February 20, 2008) AIM Trimark Investments has announced the reopening of its Trimark Advantage Bond Fund, which has been closed to new investors since May 2003. The fund, which has just over $600 million in assets, is managed by Rex Chong, Anthony Imbesi, Alfred Samson and analyst Gary Lew. The fund invests primarily in Canadian […]

By Staff |February 20, 2008

1 min read

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Briefly:

(February 20, 2008) Nearly seven in 10 Canadians say the amount of money needed for a comfortable retirement is the key driver in their decision about when to retire, according to the 18th Annual RBC RRSP Poll. “As the RRSP contribution deadline on February 29 approaches, many Canadians are thinking about their savings and whether […]

By Staff |February 20, 2008

5 min read

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Flaherty blames province for slow Ontario economy

Federal Finance Minister Jim Flaherty has charged the Ontario government with the outright failure to stimulate a lagging provincial economy by providing tax breaks to businesses. In a speech delivered this morning to an crowd of small- and medium-sized business owners in Toronto, Flaherty bluntly stated that the government of Dalton McGuinty suffers from a […]

By Romana King |February 20, 2008

3 min read

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