Industry News

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(July 13, 2007) A Chicago jury has found Conrad Black guilty of three counts of mail fraud and one more-serious count of obstruction of justice for his conduct in the alleged misappropriation of more than $60 million from Hollinger International. The guilty verdict on the four of 13 charges that Black was facing means he […]

By Staff |July 13, 2007

3 min read

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Defensive posture recommended

With the long-running bull market delivering healthy gains in the first half of the year, investors may want to adopt a more defensive position, according to a strategy note out of Richardson Partners Financial. The S&P/TSX Composite Index turned in a six-month return of 7.7% at the end of June, despite some rough patches along […]

By Steven Lamb |July 13, 2007

3 min read

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(July 12, 2007) Economic growth and inflation for the first half of 2007 has been stronger than was expected, the Bank of Canada said in its June Monetary Policy Report, and growth won’t be subsiding anytime soon. Much of this growth has been fuelled by domestic demand bolstered by firm commodity prices. Both total CPI […]

By Staff |July 12, 2007

2 min read

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SEC defends private equity IPOs

The U.S. Securities and Exchange Commission is defending its decision to allow the initial public offering of private equity companies in the wake of mounting pressure from U.S. legislators, who want to subject private equity firms to greater scrutiny. Andrew J. Donohue, director of the SEC’s Division of Investment Management, testified on Wednesday in Congress […]

By Mark Noble |July 12, 2007

4 min read

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Alcan deal sends fund managers on the hunt for a new large-cap

Hot on the heels of BCE takeover news comes an announcement of another huge merger that’s sure to affect Canadian investors. Anglo-Australian mining juggernaut Rio Tinto has made a $38.1 billion all-cash offer to buy Alcan, Canada’s largest mining company. The deal has fund companies searching for new places to invest the eventual cash windfall, […]

By Bryan Borzykowski |July 12, 2007

3 min read

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(July 11, 2007) Manulife Investments has decided to use the Manulife name for the majority of its fund offerings, and will retire the names of the Elliot & Page and MIX families of funds. Elliott & Page Funds will change to Manulife Funds, and MIX Funds will become Manulife Corporate Class. Manulife says the new […]

By Staff |July 11, 2007

3 min read

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Pensions still not out of the woods

Canadian pension plans received a clean bill of health this week, as Watson Wyatt Worldwide and Mercer Human Resource Consulting released separate studies revealing a renewed strength of retirement plans. That could be good news for retirees since corporate pension plans are at the heart of a relaxing post-work life. The Mercer Pension Health Index […]

By Bryan Borzykowski |July 11, 2007

3 min read

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U.S. legislators set sights on hedge funds

The days of footloose and fancy-free hedge funds may be nearing an end. A movement is afoot by both U.S. legislators and regulators to force hedge funds to comply with a greater range of securities laws. Erik R. Sirri, director of the U.S. Securities and Exchange Commission’s Division of Market Regulation, testified before the Financial […]

By Mark Noble |July 11, 2007

2 min read

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(July 10, 2007) A former B.C. government official has been named as the new head of Vancouver City Savings Credit Union. Tamara Vrooman, the ex-deputy minister of finance and secretary to the treasury board for the B.C. government, will be the credit union’s new CEO starting September 1. “We are delighted to have found someone […]

By Staff |July 10, 2007

3 min read

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Loring Ward sells wealth management division

Loring Ward International has struck a deal to sell virtually all of the assets and liabilities associated with Loring Ward Capital Management, its private client division. The Monarch Wealth Advisory Group, a company controlled by Jeffrey B. Wheeler, has agreed to purchase the capital management business. Dependent on the performance of the sold business, Loring […]

By Mark Noble |July 10, 2007

2 min read

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