Industry News

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Retirement planning big priority for 30-year-olds: Study

Contrary to stereotypes of an apathetic and directionless generation, 30-year-olds harbour many of the same employment and health aspirations of their parents, and actually surpass their parents in placing greater importance on saving for retirement. These were the findings of a new study featured in the 30th anniversary edition of BENEFITS CANADA magazine. (BENEFITS CANADA, […]

By Mark Noble |June 8, 2007

3 min read

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(June 7, 2007) The Office of the Superintendent of Financial Institutions has issued a public warning against two central Canadian firms that it suspects of participating in advance fee or “Nigerian letter” scams. OSFI warned investors to beware of Golden Merchant Bank, based in Verdun, Quebec, and Dexia Financial Trust, based in Brantford, Ontario. According […]

By Staff |June 7, 2007

3 min read

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IFIC panel chews out NI 31-103

If anyone thought the mutual fund industry was pleased with NI 31-103, think again. On Thursday, the Investment Funds Institute of Canada held a panel discussion to tell its members all that’s wrong with the proposed national instrument. Moderated by Murray Taylor, president and CEO of Investors Group, panelists Christopher Enright, executive vice-president of FundEX […]

By Bryan Borzykowski |June 7, 2007

3 min read

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(June 6, 2007) If you’ve got clients with a hankering for natural resources, then Desjardins Group has just the product to satisfy their crude oil cravings. The company announced Wednesday that it’s launching the Natural Resource Guaranteed Investment on June 11. The product is geared toward investors who want to invest in the international resource […]

By Staff |June 6, 2007

3 min read

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Strong loonie creates bargains in foreign equity

The Canadian dollar is at a thirty-year high and many Canadians are wondering whether they should take a quick jaunt across the border to do some shopping. The same logic can be applied to buying international equity — purchasing foreign companies has never been cheaper, and fund managers right now are taking advantage of the […]

By Mark Noble |June 6, 2007

3 min read

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May marks another strong month: IFIC

The month of May appears to have seen strong mutual fund sales, with net inflows of between $3.2 billion to $3.7 billion, according to preliminary estimates from IFIC. “Mutual fund net sales posted their best May since May 1996 and marked the thirty-first straight month of positive net sales,” said Pat Dunwoody, vice-president, member services […]

By Steven Lamb |June 5, 2007

1 min read

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(June 5, 2007) Finance Minister Jim Flaherty doesn’t scare Mackenzie Investments. At least not enough to prevent the company from investing in income trusts. Mackenzie announced Tuesday that it’s changing the Keystone Saxon Smaller Companies Fund to include more income trusts. Starting immediately, the fund is allowed to invest 30% of its assets in the […]

By Staff |June 5, 2007

2 min read

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Advisors drafted into war on terror

Advisors attending the Independent Financial Brokers Summit in Toronto had a bit of a wrench thrown at them among the standard sessions on new products and business strategies. J-P Bernier, vice-president and general counsel of the Canadian Life and Health Insurance Association, began his seminar with one question: “Are you unknowingly financing terrorism?” Bernier says […]

By Mark Noble |June 5, 2007

4 min read

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(June 4, 2007) Dundee REIT is getting lighter. The company announced Monday that GE Real Estate is buying Dundee’s Ontario, Quebec and Newfoundland assets for $2.4 billion. GE will pay $165 million for outstanding units of Dundee REIT at $47.50 per unit. The move will give GE Real Estate about an 18% equity interest in […]

By Staff |June 4, 2007

3 min read

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Advocis dusts off RHU

Advisors looking for an edge in the increasingly competitive living benefits market should bear in mind that competence and education go a long way with both clients and regulators. It was with this in mind that Advocis revamped its Registered Health Underwriter designation. “The RHU designation gives advisors a competitive advantage in the marketplace,” says […]

By Steven Lamb |June 4, 2007

3 min read

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