Industry News

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Fundcos celebrate strong year at investment awards show

The annual Canadian Investment Awards were handed out in Toronto last night, recognizing the best and brightest in the mutual fund industry. The Morningstar Fund Manager of the Year went to Allan Jacobs of Sceptre Investment Counsel Limited. For the past 16 years, Jacobs has managed the Sceptre Equity Growth Fund, which was named the […]

By Steven Lamb |December 1, 2006

3 min read

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(November 30, 2006) The American subsidiary of Great-West Lifeco says it has purchased $9 billion US in retirement plan assets from U.S. Bank. The agreement includes the transfer of nearly 1,900 daily valuation and balance-forward defined contribution plans, representing approximately 195,000 participants. “This acquisition moves us significantly closer to our goal of becoming one of […]

By Staff |November 30, 2006

4 min read

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Equity issuance, trading slow in Q3

There is new evidence that the long-anticipated economic slowdown has already had an impact on the Canadian markets. The summer months of 2006 were marked by a dramatic slowdown, as both financings and trading volumes fell, according to the latest report from the Investment Industry Association of Canada. New financings totalled just $9.1 billion between […]

By Steven Lamb |November 30, 2006

3 min read

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Philanthropy still key factor in charitable giving

Although Ottawa’s move to cut the capital gains tax on donations of stocks to charities has clearly helped the sector, it’s not the main reason behind Canadians’ philanthropic decisions, a new survey suggests. In fact, 97% of those responding to a poll conducted for Scotiabank’s Scotia Private Client Group said their choices are motivated by […]

By Doug Watt |November 30, 2006

2 min read

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(November 29, 2006) Richardson Partners Financial has named Bennett MacInnis, CMA, chief operating officer. Prior to joining the firm, MacInnis was executive vice-president of business process outsourcing at Citigroup Securities and Fund Services Canada. “We are very pleased to welcome Ben to our firm and offer him our full support as he guides our day-to-day […]

By Staff |November 29, 2006

2 min read

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Advocis claims victory as feds table Bank Act

The government of Canada has announced the changes it plans to make to the Bank Act as part of the now overdue five-year review of the legislation. The review’s deadline, originally the end of October, was extended to April 24, 2007, in order to give the House enough time to consider the proposed changes. Those […]

By Mark Brown |November 29, 2006

3 min read

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Wellington West hires Kapoor

Charlie Spiring has hired a former competitor to lead the M&A charge of his growing empire. The CEO of Winnipeg-based Wellington West Holdings Co., the newly-formed parent company of Wellington West Capital and its sister firms, has lured Kish Kapoor out of semi-retirement to be its president. Kapoor carved out his niche in Canada’s financial […]

By Renée Alexander |November 29, 2006

3 min read

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(November 28, 2006) RBC Dominion Securities has agreed to pay $80,000 plus $10,000 in costs after it admitted to the Investment Dealers Association of Canada that it failed to notice a $420-million capital–ratio deficiency last June. According to one media report, the error was traced to a securities borrowing transaction in which RBC placed “excess […]

By Staff |November 28, 2006

3 min read

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Global outlook remains strong: GGOF

Canadian investors are once again being told to cash in some of their Canadian oil profits and look abroad, before the markets succumb to the long-anticipated slowdown. The prophets of foreign profits this time around are Gavin Graham and a pair of globally focused portfolio managers for Guardian Group of Funds. “Canada has been by […]

By Steven Lamb |November 28, 2006

3 min read

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Boomers face tough choices for retirement

No money left over to save (58%) No money left over to save (58%) Started saving too late (44%) Still supporting kids (28%) Health issues (22%) Job issues (20%) Many of them now regret their late start: 81% said they wish they had started earlier, and 91% agreed that saving enough to retire on takes […]

By Steven Lamb |November 27, 2006

2 min read

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