Industry News

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Fund sales start RSP season on a high note

(December 15, 2004) The beginning of RRSP season helped boost mutual fund sales in November, with net sales of long-term funds hitting their highest point since April 2004, according to the latest data from IFIC. “Net sales for long-term funds for the month of November were $1 billion,” said Tom Hockin, president and CEO of […]

By Steven Lamb |December 15, 2004

3 min read

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CPPIB reaches into fund industry for new CEO

(December 15, 2004) The CPP Investment Board (CPPIB) has appointed a high-level mutual fund executive as its new CEO. Fidelity Canada president David Denison will join the CPPIB in January, replacing John MacNaughton. MacNaughton, who has led the CPPIB since its inception in 1999, announced in May that he planned to step down at the […]

By Doug Watt |December 15, 2004

2 min read

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Life insurers facing deadline

(December 14, 2004) Canada’s life insurance firms have until the end of the week to complete a detailed questionnaire on their business practices, including how advisors are compensated. The 37-question document was sent to firms earlier this month by Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), which is collecting information from across […]

By Doug Watt |December 14, 2004

3 min read

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Asia, trusts to lead in 2005, fundco says

(December 14, 2004) Investors should expect modest returns on both North American debt and equity investments in 2005, according to fund managers from GGOF Guardian Group of Funds. The prediction is based on slower economic growth in the world’s most developed nations. “GGOF believes 2005 is a year that will most likely see modest absolute […]

By Steven Lamb |December 14, 2004

4 min read

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Retirement plans threatened by disability

(December 13, 2004) Canadians’ individual retirement savings hang by a thread, facing obliteration by a whim of fate — either in the form of an accident or a serious illness, according to a poll by a major disability and critical illness insurance firm. In an Ipsos-Reid survey conducted for RBC Insurance, 52% of respondents said […]

By Steven Lamb |December 13, 2004

2 min read

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2004 a strong year for M&A market

(December 13, 2004) Activity in the Canadian mergers and acquisitions (M&A) market increased in 2004, in terms of value, according to an annual report from KPMG. The number of deals completed dropped, however, to 1,051 compared to 1,110 in 2003. The total value of transactions jumped almost 75%, from US$48 billion in 2003 to US$83 […]

By Steven Lamb |December 13, 2004

2 min read

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Briefly:

(December 17, 2004) BluMont Capital has announced it will close the BluMont Hirsch Performance Fund to new investors on March 31, 2005 or when the fund reaches $150 million in assets, whichever comes first. Existing investors will be able to continue funding their position until the fund reaches its cap of $200 million. “In a […]

By Staff |December 13, 2004

8 min read

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Rogers to roll out new Advisor publication

(December 10, 2004) Rogers Media is launching a new publication aimed at financial advisors. The first issue of Advisor’s Edge Report will be available January 19, 2005. The new monthly publication joins several other properties in The ADVISOR Group offering focused coverage for the Canadian financial advisor community. These include Advisor’s Edge magazine, as well […]

By Staff |December 10, 2004

2 min read

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Advisor Forum update: Structured products here to stay

(December 10, 2004) While advisors may have mixed reactions to structured products, they can’t deny their popularity and growth potential, according to the president of OpenSky Capital. Sales have topped $7.7 billion with an anticipated 50% growth rate over the next five years, says Steven Marshall, whose firm offers absolute return products. “Whether or not […]

By Deanne N. Gage |December 10, 2004

3 min read

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CPP financially sound until at least 2050

(December 9, 2004) The Canada Pension Plan is in no danger of running out of funds, according to the federal government’s latest actuarial report, with assets expected to rise to $1.5 trillion by 2050. The report assumes an annual contribution rate of 9.9%, divided between employees and employers. Total assets are expected to grow from […]

By Doug Watt |December 9, 2004

2 min read

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