Industry News

Decorative pattern

Retrocom sets up review committee

The board of directors at Retrocom Growth Fund has established a special committee in an effort to protect the value of the fund’s shares. The committee has a broad mandate, including strategic asset divestitures, a merger or privatization of the fund, or a wind-up of the fund. Robert Blakely, Patrick Dillon, Robert Nash and James […]

By Doug Watt |February 3, 2006

2 min read

Decorative pattern

Strategists reducing exposure to bonds

The central banks of both Canada and the U.S. will likely raise interest rates over the short-term before the tightening cycle relents, according to forecasters at BMO Economics. “We look for the Fed to raise the funds target 25 bps to 4.75% at the March 28 FOMC meeting, reflecting concerns about the inflation risks posed […]

By Steven Lamb |February 3, 2006

3 min read

Decorative pattern

January fund performance golden

There’s an old traders’ saying that claims “as goes January, so goes the year.” If that is the case, equity fund investors are going to have a very good 2006. In the first month of this year, seven of Morningstar Canada’s Fund Indices gained more than 6%. Of the 31 fund indices, 29 posted positive […]

By Steven Lamb |February 2, 2006

2 min read

Decorative pattern

Fund sales expected to top $1.4 billion

January was another healthy month for the mutual fund industry, with net new sales estimated at between $1.2 billion and $1.7 billion, according to IFIC. That’s down from December’s total of $1.7 billion, but more than double last January’s $660 million in sales. “Sales are in line with expectations for this time of year,” said […]

By Doug Watt |February 2, 2006

1 min read

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Global economic imbalances must be addressed

The massive American current account deficit combined with the accumulation of foreign exchange reserves in Asia could pose a threat to the Canadian economy, according to the senior deputy governor of the Bank of Canada. Speaking on Wednesday in Saint John, New Brunswick, Paul Jenkins noted that although world economic growth has been “remarkably strong” […]

By Doug Watt |February 1, 2006

3 min read

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Receiver sets Norshield investor meeting

Retail clients will get a chance to learn more about the fate of their investments in the failed Olympus United hedge funds next month. RSM Richter, the receiver for the Norshield Group, has announced an investor information meeting for February 21 in Toronto, with videoconference links for investors in Montreal and Vancouver. The meeting comes […]

By Scot Blythe |January 31, 2006

1 min read

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Foreign content creeping higher

Canadian investors appear to be slowly ratcheting up their exposure to foreign markets, possibly heeding advice to take some profits from the three-year Canadian equity rally. A recent poll by RBC Financial Group found that there has been a slight increase in foreign holdings in RRSPs, but that Canadians still prefer domestic investments for the […]

By Steven Lamb |January 31, 2006

3 min read

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Dealers agree to return Portus fees

Fifty-seven investment and mutual fund dealers have agreed to a regulatory plan that will see more than $12 million in Portus referral fees returned to investors by May 31. Earlier this month, the Ontario Securities Commission (OSC), the MFDA and the IDA asked the dealers to voluntarily participate in the reimbursement plan and respond in […]

By Staff |January 31, 2006

2 min read

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Briefly:

(February 3, 2006) Altamira Investment Services is increasing the interest rate of its High-Interest CashPerformer savings account to 3.25%, effective immediately. It’s the second time this year Altamira has raised rates on the popular product. On January 16, the CashPerformer rate was bumped up to 3.15%. The firm’s U.S. High-Interest CashPerformer will remain at its […]

By Staff |January 30, 2006

12 min read

Decorative pattern

SROs lay out audit trail timetable

To a busy securities firm, June of 2008 is a long way away. But to that firm’s IT staff, it’s the blink of an eye. A request for proposals soliciting vendor bids for development of the Trade Reporting and Electronic Audit Trail Standards (TREATS) will go out soon, Investment Dealers Association vice president for sales […]

By Philip Porado |January 30, 2006

3 min read

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