Industry News

Decorative pattern

Some Portus investors may cash in soon

Unitholders in one of the investments in the collapsed Portus Group may soon be able to retrieve what’s left of their money as the receiver moves to wind up the investment. Portus Group had three investment vehicles: two managed accounts that were to buy both Canadian and U.S.-dollar denominated principal-protected notes, and the Market-Neutral Preservation […]

By Scot Blythe |June 29, 2007

3 min read

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(June 28, 2007) The TSX Venture Exchange says it will appeal a recent British Columbia Securities Commission decision that overturned the exchange’s prohibition of a convicted murderer from holding a post in investor relations for TSX Venture listed issuers. In late 2005, the exchange deemed William John Nichols unsuitable to provide investor relations services to […]

By Staff |June 28, 2007

4 min read

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Canadian dollar finds favour with managers: report

More and more investment managers are jumping on the Canadian dollar bandwagon. According to the Russell Investment Manager Outlook, a quarterly poll of Canadian investment managers, more than 50% of investment managers are bullish on the dollar compared to 25% last quarter. “The majority of Canadian investment managers surveyed have high expectations for the Canadian […]

By Bryan Borzykowski |June 28, 2007

3 min read

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Let banks and insurance companies merge: C.D. Howe report

If the CD Howe Institute had its way, insurance companies and banks would be able to merge. The think-tank issued a report Thursday, calling for such changes. The 32-page document says cross-pillar integration would help Canadian financial intuitions “expand the scope of their operations and realize potential economies.” Both the Canadian Bankers Association and Advocis […]

By Bryan Borzykowski |June 28, 2007

5 min read

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Canada not

It may seem like foreign buyers are scooping up Canadian companies left and right, but Ian Russell, president and CEO of the Investment Industry Association of Canada says this is no cause for alarm in a free market economy. “Stop being so paranoid,” says Russell, speaking at the Economic Club Tuesday afternoon. He told the […]

By Bryan Borzykowski |June 27, 2007

4 min read

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(June 27, 2007) Russell Investments Canada has found a new partner. The company is teaming up with Cornerstone Capital Management, which will now be responsible for a portion of the Russell US Equity Fund and Sovereign US Equity Pool. “After extensive manager research and evaluation, Russell determined Cornerstone to be a highly ranked manager with […]

By Staff |June 27, 2007

3 min read

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Canada’s actuaries want to salvage DB plans

The Canadian Institute of Actuaries (CIA) says the decline of defined benefit pension plans in Canada is unacceptable, so it is proposing a 10-point plan that it says will ensure defined benefit plans play a major role in Canada’s retirement landscape. Speaking to the Economic Club of Toronto, CIA president Normand Gendron referred to a […]

By Mark Noble |June 27, 2007

3 min read

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Berkshire sale a gain or loss for embattled AIC?

Today’s conventional wisdom dictates that having an in-house distribution network is a definite advantage for today’s dealers. So with the announced sale of Berkshire-TWC Financial Group to Manulife Financial on Tuesday, some are asking what happens to Berkshire’s redemption-plagued corporate sister, AIC Limited. The success of some of today’s biggest fund companies has been attributed […]

By Mark Noble |June 27, 2007

3 min read

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Manulife to buy Berkshire-TWC

Manulife Financial has struck a deal to acquire Berkshire-TWC Financial Group Inc., bringing more than 700 advisors from 237 branches into the fold of the insurance colossus. “When coupled with Manulife Securities, this will double our number of wealth management advisors across Canada and triple assets under administration in that business,” said Paul Rooney, president […]

By Steven Lamb |June 26, 2007

3 min read

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(June 26, 2007) Scotiabank announced Tuesday the signing of a definitive agreement to acquire TradeFreedom Securities, a privately owned Canadian online brokerage boutique. Terms of the transaction were not disclosed. Scotiabank says TradeFreedom, which was founded in 1999, is geared toward active traders and investors, and provides a bundle of services, including instant trading and […]

By Staff |June 26, 2007

4 min read

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