Industry News

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Minister spells out

Late Friday, hours after markets had closed and after many advisors had gone home for the weekend, the federal finance minister provided guidance on what he construes as “normal growth” for income trusts. The new guidelines are expected to result in a sizable increase in the number of new financings and mergers within this space. […]

By Mark Brown |December 18, 2006

4 min read

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(December 15, 2006) Canada’s national net worth grew nearly 3% in the third quarter to $4.8 trillion, about $146,700 per person, according to Statistics Canada. The increase in the market value of residential real estate continued to be the major contributor to the increase, StatsCan said, although non-residential assets, such as strong business investment, also […]

By Staff |December 15, 2006

3 min read

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Securities industry aims for record year

The good times continue to roll in the securities industry despite a modest pullback in profits for the third quarter, according to the Investment Industry Association of Canada. The industry as a whole earned an operating profit of $1.2 billion, down 5.8% from Q2 but up 8.5% from the same quarter last year. That’s still […]

By Steven Lamb |December 15, 2006

3 min read

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Investors go shopping for global equity

Mutual fund sales leaped higher in November, as Canadians got into the spirit of the season — RRSP season, that is — according to the latest monthly statistics from IFIC. Net sales in long-term funds jumped to $2.3 billion, making November the best month this year since the end of the traditional RRSP season in […]

By Steven Lamb |December 15, 2006

3 min read

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Ethically speaking: Unconsenting advisors

(December 2006) We’ve been asking FCSI designees from coast-to-coast to respond to your ethical conundrums. In our last column, we posted an FCSI’s advice to an advisor with a client spouse who wanted to withdraw funds from a spousal RRSP, without the the client’s knowledge. Many of you e-mailed us about this column — voicing […]

By Staff |December 14, 2006

6 min read

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(December 14, 2006) Soaring home values have boosted consumer confidence over the past few years in what has come to be known as the wealth effect. Those good times could continue through 2007, as prices will climb by 6.5%, according to a forecast by Royal LePage Real Estate Services. “Canadians’ passion for real estate remained […]

By Staff |December 14, 2006

3 min read

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No surplus money into CPP: Flaherty

Federal finance minister Jim Flaherty has shelved a proposal to allow surplus money to be put back into the Canada Pension Plan. In an exclusive interview with Benefits Canada, Flaherty was asked about the notion that if the feds are allowed to put money into the CPP, it has the potential to take money out […]

By Joel Kranc |December 14, 2006

1 min read

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GrowthWorks abandons efforts to buy Crocus

A court ruling that leaves his proposal to take over what’s left of the Crocus Investment Fund “dead in the water” has not deterred David Levi from entering the Manitoba market. The CEO of Vancouver-based labour-sponsored fund GrowthWorks Capital says he has begun the process of launching a new fund, which could be available to […]

By Renée Alexander |December 14, 2006

3 min read

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(December 13, 2006) Sarbit Asset Management has launched a new website — www.sarbit.com — offering more information on the firm’s current lineup of five funds. “We’re proud to introduce our new website, which features our larger family of funds and incorporates more features that investors and advisors look for from fund companies today,” says Larry […]

By Staff |December 13, 2006

2 min read

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Wealth inequality gap widens, even among the rich

The rich really are getting richer, but the poor are also falling further behind. That’s the finding from the latest Statistics Canada study on the inequality of wealth between 1984 and 2005. Between 1984 and 1999, the real (adjusted for inflation) wealth of Canadians grew approximately 10%. It grew even faster in the years that […]

By Mark Brown |December 13, 2006

4 min read

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