Industry News

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Great-West to buy Putnam

After weeks of speculation, Great-West Lifeco has announced that it has reached an agreement to purchase Boston-based Putnam Investments Trust, for $3.9 billion US. The deal is subject to regulatory approval. “Power Financial Corporation has wanted for some time to expand the presence of its financial services group in the United States, by acquiring a […]

By Staff |February 1, 2007

1 min read

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(February 1, 2007) The Office of the Superintendent of Financial Institutions Canada has found that Canada’s major banks’ exposure to hedge funds is very small, and when they do deal with hedge funds, they take a sufficiently cautious approach. In her remarks to the Senate Standing Committee on Banking, Trade and Commerce, Julie Dickson, acting […]

By Staff |February 1, 2007

4 min read

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Young people still an underserved market

If it’s true that the earlier you save the more you’ll save, then investors in the 18–24 demographic have the most to gain by investing now. Unfortunately, a recent study finds this group is not only elusive, with few seeking out financial advice, but also their needs and spending habits are markedly different from those […]

By Mark Noble |February 1, 2007

4 min read

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Great-West to buy Putnam

After months of speculation, Great-West Lifeco has come out on top of a long list of suitors to purchase the recovering Boston-based Putnam Investments Trust for $3.9 billion US. Great-West Lifeco is a subsidiary of Power Financial Corp., which also controls London Life, Canada Life, Investors Group and Mackenzie Financial. The deal allows Power Financial […]

By Mark Brown |February 1, 2007

3 min read

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(January 31, 2007) Arrow Hedge Partners has announced the launch of Arrow Canadian Income Fund. The fund will invest primarily in Canadian income trusts and dividend-paying common shares, with a focus on North American securities. The fund’s investment objective is to achieve a high level of income and potential capital gains in order to generate […]

By Staff |January 31, 2007

5 min read

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Ex-insurance exec to head Seneca training program

Seneca College’s financial services practitioner program is being seen as one of the best hopes for replenishing an aging workforce in financial services. While stakeholders remain committed, Seneca has found filling the classroom challenging. Supporters of the program hope this problem will be remedied by the appointment of Transamerica Canada’s former COO, Karen Gavan, as […]

By Mark Noble |January 31, 2007

2 min read

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HR departments are allies in client education

Just as Canadians are being asked to take more responsibility for saving for their retirement, employees are being asked to make more decisions regarding their employer-sponsored pension plans. The problem is no one is helping them make the right decisions, which is why T. E. Wealth is sitting down with human resources professionals from across […]

By Mark Brown |January 31, 2007

4 min read

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(January 30, 2007) Laurentian Bank of Canada, through its LBC Financial Services subsidiary, a mutual fund broker, will offer the Clarington Target Click Funds, which are designed to help investors participate in the growth potential of global equity markets while protecting their invested capital and gains against downside risk. The Clarington Target Click Funds guarantee, […]

By Staff |January 30, 2007

4 min read

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Debt issuance surged in Q3

Despite offering low returns, the debt market in Canada had its second best quarter on record, according to the Investment Industry Association of Canada’s Review of Debt New Issues and Trading for Q3. Total debt issuance increased 20.8% — to $45.7 billion — over last quarter, and 23.2% from last year. “This past summer turned […]

By Bryan Borzykowski |January 30, 2007

2 min read

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Flaherty defends income-trust tax scheme

Ever since the federal government announced its plan to impose taxes on the distributions of income trusts, the finance minister has faced questions over the amount of tax leakage trusts actually represent. Official documents recently released by Finance were of little use, as most of the numbers were blacked out. Various academic studies had arrived […]

By Steven Lamb |January 30, 2007

3 min read

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