Industry News

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Early data shows strong April fund sales: IFIC

Mutual fund sales in April were the best the industry has seen for that month since the heyday of the dot-com boom in the late 1990’s, according to the Investment Funds Institute of Canada’s monthly fund sales estimates. IFIC estimates net new sales of mutual funds for April to be between $2.2 billion to $2.7 […]

By Mark Noble |May 3, 2007

2 min read

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(May 3, 2007) The Alberta Securities Commission is warning the public about an investment scheme where fake companies use similar names of legitimate oil and gas companies and their success to draw investors. The ASC says investors have been approached by representatives for Al-Tar Energy Corp. and Alberta Energy Corp. The ASC says the companies […]

By Staff |May 3, 2007

3 min read

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Saving overshadows spending plan

Despite dire reports of North America’s plummeting savings rate, there is another — potentially greater — danger on the horizon for the aging baby boomer generation: gauging how long those savings will last. For decades, the financial services industry has focused on accumulation of wealth, but as the boomers retire, planners will be forced to […]

By Steven Lamb |May 3, 2007

3 min read

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Banks opt for own exchange

Fed up with high fees and limited competition, Canada’s biggest banks and major investment dealers have announced their intention to establish a new alternative trading system that will compete head to head with the TSX. The new trading system, which is currently dubbed Project Alpha, is being headed up by Jos Schmitt, who was senior […]

By Mark Brown |May 3, 2007

3 min read

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OSC to retry Rankin

If at first you don’t succeed, try, try again. That appears to be the motto of the Ontario Securities Commission, which has decided to take Andrew Rankin back to court for stock tipping. “The Ontario Securities Commission took steps today to commence a new trial against Andrew Rankin on 10 counts of tipping,” the OSC […]

By Mark Noble |May 3, 2007

2 min read

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Tax breaks boosting donations: TD report

It’s been one year since the federal government enacted legislation that removed the capital gains tax on publicly traded securities donated to charities. But are clients taking advantage? There aren’t any concrete numbers yet but a TD Economics study estimates this type of giving will only increase as more Canadians accrue capital gains on their […]

By Mark Noble |May 2, 2007

4 min read

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What’s Ahead for Income Investors?

Find out in this exclusive interview with one of Canada’s largest closed-end fund managers. Citadel Premium Income Fund is one of Canada’s largest closed-end funds and its managers at Fiera YMG are considered leaders in the field of fixed income and income trust investing. Consequently, we can’t think of a better place to turn for […]

By Staff |May 2, 2007

1 min read

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(May 2, 2007) CIBC World Markets predicts that the TSX composite will hit a record 15,000 by year’s end due to a booming mergers and acquisitions market and continued strength in global resource prices. The predictions are part of the investment firm’s Canadian Portfolio Strategy Outlook report. The 15,000 target will provide investors with a […]

By Staff |May 2, 2007

4 min read

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Domestic equity rules in April

Canadian mutual fund investors were rewarded for their economic patriotism in April, with domestic equity funds turning in the best performance for the month, according to Morningstar Canada’s monthly performance report. Considering the S&P/TSX Composite Index fell 1.6% on a single day (April 30), the chart-topping returns of Canadian equity funds may come as a […]

By Steven Lamb |May 2, 2007

3 min read

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SPIVA challenges active management

Hot on the heels of a Russell Investments report touting active managers, Standard & Poor’s has released its own active fund findings, and the results aren’t as rosy. S&P has found that 47.7% of Canadian equity funds outperformed the S&P/TSX Composite Index, while only 47.6% of Small Cap funds fared better than their benchmark. Steve […]

By Bryan Borzykowski |May 2, 2007

3 min read

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