Industry News

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Canadian equity funds surge in May

Canadian equity funds were a hot commodity last month, as the Natural Resource Equity Fund Index led Morningstar’s 42 Canada Fund Indices. The domestic stock market had a good run overall last month, with high activity in the M&A market and a strong Canadian economy contributing to the positive results. The S&P/TSX Composite Index jumped […]

By Bryan Borzykowski |June 4, 2007

2 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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(June 1, 2007) There’s no better way to start the weekend than with a little giving. Announced Friday, Blake Goldring, chairman and CEO of AGF Management is donating $15.1 million to the University of Toronto. The gift is meant to improve student life and athletics at the university, with $11 million slated to upgrade athletic […]

By Staff |June 1, 2007

3 min read

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Rubin predicts parity, trims bonds

The Canadian dollar is headed toward parity with its U.S. counterpart and the Bank of Canada will not step in to prevent it, according to one of Canada’s most outspoken bank economists. “With the national jobless rate plumbing 30-year lows and core inflation now bobbing above the Bank of Canada’s target range, our earlier assumption […]

By Steven Lamb |June 1, 2007

2 min read

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Signatures slowing down insurance industry

It’s been said over and over again: the life insurance industry relies too much on paper, and not enough on technology. So what’s the holdup? How about handwritten signatures? Every life insurance policy requires a handful of signatures, which traditionally means grabbing a pen and putting your John Hancock on paper. But Tim Fitzpatrick, president […]

By Bryan Borzykowski |June 1, 2007

3 min read

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Banks subject to provincial insurance law

In a decision that is bound to shake the financial services industry, the Supreme Court of Canada has ruled that banks are, in fact, subject to provincial insurance law. The ruling represents a major impediment to the banks’ quest to sell insurance in their branches. “The [Alberta] Insurance Act and its associated regulations apply to […]

By Staff |May 31, 2007

4 min read

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(May 31, 2007) Privacy has been on the minds of many in the financial industry since 2001, but breaches persist, according to the 2006 annual report on the Personal Information Protection and Electronic Documents Act, which was tabled in Parliament on Thursday. The report acknowledges that complaints made against those sectors that adopted PIPEDA when […]

By Staff |May 31, 2007

2 min read

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(May 30, 2007) Lakeview Asset Management has proposed fixed administration fees on several of its funds, promising more predictably costs for investors. The move would bring the firm in line with its corporate parent, CI Financial, which introduced fixed fees for mutual funds and investment pools at CI Investments Inc. and United Financial Corporation in […]

By Staff |May 30, 2007

3 min read

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More pensions warming to SRI

The phenomenal growth of SRI assets in the pension world is creating a snowball effect, as traditional barriers collapse, according to Canadian pension experts. The Social Investment Organization reported earlier this year that SRI assets in Canada had ballooned to more than $500 billion as of June 30, 2006, up from just $38 billion in […]

By Doug Watt |May 30, 2007

3 min read

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PH&N gets into advisor space with new low fee funds

One of Canada’s oldest investment firms is getting friendlier with advisors. Vancouver-based Phillips, Hager & North Investment Management Ltd. is offering new low-MER funds that investors can buy through their advisors. “We spent two years analyzing the market and working with advisors,” says John Montalbano, PH&N’s president, from his downtown Toronto office. “Those advisors were […]

By Bryan Borzykowski |May 30, 2007

4 min read

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