Industry News

Decorative pattern

Energy stocks can be a mixed bag

Ask virtually anyone what has been powering the TSX through the recent bull run and you’ll get the same answer: Huge profits in the energy sector. But that seemingly easy answer may be only half true. While Canada’s oil producers have reaped the benefits of soaring crude prices, the natural gas side of the sector […]

By Steven Lamb |July 19, 2006

2 min read

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(July 18, 2006) IFIC has announced that it will sponsor a new category in the Canadian Investment Awards that recognizes excellence in investor education. The award will be given to an investment fund manager, dealer or integrated firm that has produced an exceptional educational initiative aimed at investors. The five person judging panel includes securities […]

By Staff |July 18, 2006

3 min read

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U.S. losing economic clout to Asia

Fears that a U.S. economic slowdown will cripple the global economy may be a little overblown, according to economists at one of the major banks. While the U.S. remains the world’s largest single economy, the rapidly developing economies of Asia are playing a greater role in propelling global growth than ever before. “Emerging and newly […]

By Steven Lamb |July 18, 2006

4 min read

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Morningstar, CIFSC extend olive branch

Although fund researcher Morningstar withdrew from the Canadian Investment Funds Standards Committee in February, citing its dysfunctional nature, it seems the split between the two organizations could still be reconciled. Both sides continue to talk, at least informally. And recently, at the behest of Morningstar president Scott Mackenzie, the two sides agreed to sit down […]

By Mark Brown |July 18, 2006

3 min read

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(July 17, 2006) Computer difficulties at Desjardins Group are disrupting all banking transactions normally carried out online, in the group’s branches and through the Desjardins ATM network in Quebec, Ontario and New Brunswick. Although services are disrupted, debit and credit transactions can be performed normally and employees can manually carry out withdrawals and attest bill […]

By Staff |July 17, 2006

3 min read

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Lipper sets sights on Canada

On the surface, a press release issued jointly by the Canadian Investment Funds Standards Committee and Lipper on July 5th that detailed a partnership to better decode the Canadian mutual fund industry seemed simple enough, but on closer inspection it’s clear the partnership is being used by one of the largest fund rating companies in […]

By Mark Brown |July 17, 2006

2 min read

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Mutual fund sales stuck in a slump

Sales of Canadian mutual funds continued to slow last month, as investors were shaken by equity market volatility in late May and the beginning of June. Net new sales of long-term funds totaled $297 million, down from $411 million in May, according to the latest data from IFIC. With June marking the end of the […]

By Steven Lamb |July 17, 2006

2 min read

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(July 14, 2006) The MFDA has issued a permanent ban against former PFSL Investments representative Scott Andrew Stevens and fined him $61,000. Stevens must also pay costs totaling $2,000, although the association does not have the legal power to collect penalties from those no longer in the industry. The penalties come after the MFDA verified […]

By Staff |July 14, 2006

2 min read

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Fee-only advisors push for improved client statements

A group of fee-only financial advisors calling themselves the Investor Awareness Project is urging investors to sign a petition, demanding brokerage firms and banks be required to issue monthly statements that include basic performance measurement statistics like annual returns and benchmark comparisons. Current reporting standards are inadequate, they say, since there is no way to […]

By Kate McCaffery |July 14, 2006

3 min read

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(July 13, 2006) Acuity Funds has retained top spot on the list of Morningstar’s five-star mutual funds for the month ending June 30. The company has 11 five-star funds, followed by Dynamic Funds and CI Investments with eight and six, respectively. Mackenzie Financial, Altamira Investment Services and RBC Asset Management tied for the fourth place […]

By Staff |July 13, 2006

4 min read

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