Industry News

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Savings bonds here to stay, says finance minister

(September 3, 2004) The federal department of finance is looking into possible reforms to the Canada Savings Bond (CSB) program, officially called the Retail Debt Program, after a report commissioned by the government recommended scrapping the bond program altogether. “We are assessing the Retail Debt Program in the context of a much-improved fiscal situation and […]

By Steven Lamb |September 3, 2004

4 min read

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Gold funds top performers in August

(September 2, 2004) Investors holding gold-based mutual funds had a reason to smile in August, as strong bullion prices pushed gold funds to the top of the performance charts, according to early data from Morningstar Canada. The monthly report shows an even split between Morningstar’s 32 fund indexes, with half gaining and half losing ground. […]

By Steven Lamb |September 2, 2004

2 min read

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Fund sales suffer late summer slump

(September 2, 2004) Mutual fund sales fell into net redemptions in August for the first time in nearly a year, according to IFIC’s preliminary data. Based on a sample of data from IFIC members, net sales for August are estimated to be between minus $250 million and $150 million, IFIC said today. “Net redemptions for […]

By Doug Watt |September 2, 2004

1 min read

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Canadians expect mortgage rates to rise

(September 1, 2004) Clients with mortgages coming up for renewal may soon be seeking your advice. The majority of Canadian homeowners and prospective homebuyers expect mortgage rates to rise over the next 12 months, with the average estimate of a five-year closed mortgage rate hitting 7.2%, according to a survey by CIBC and Decima Research. […]

By Steven Lamb |September 1, 2004

3 min read

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Fund industry waits on proxy voting rules

(September 1, 2004) A new rule requiring U.S. mutual funds to fully disclose their proxy votes at shareholder meetings is now in force. Canadian regulators have introduced a similar proposal, but there are concerns that the Canadian version doesn’t provide the same level of disclosure, as well as worries about how long it will take […]

By Doug Watt |September 1, 2004

4 min read

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Market sees explosion of F-class offerings

(August 31, 2004) In case there was any question that investors are becoming more leery of sales commissions and hidden fees, mutual fund manufacturers have been unleashing a torrent of F-class funds aimed at capitalizing on this trend. According to a report published on Morningstar Canada’s Web site today, the number of F-class funds is […]

By Steven Lamb |August 31, 2004

2 min read

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Broker fights for right to incorporate

(August 31, 2004) Doctors do it. Lawyers and insurance agents do it. Even mutual fund advisors can do it, at least for the time being. Nick Grady can’t figure out for the life of him is why investment advisors can’t do it. “It” is incorporating one’s practice, a move that has significant income tax implications […]

By Geoff Kirbyson |August 31, 2004

4 min read

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Briefly:

(September 3, 2004) Franklin Templeton Investments has announced unitholders of Franklin U.S. Small Cap Growth Fund have voted to expand the mandate of the fund to include the ability to invest in U.S. mid-cap companies. “The change to the mandate allows the fund to take advantage of the growth opportunities that exist in the U.S. […]

By Staff |August 30, 2004

5 min read

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Technology viewed as key to productivity

(August 30, 2004) Advisors who neglect their back-office technology are leaving themselves at the mercy of the marketplace, as rivals become increasingly efficient and meet client’s needs, according to one of Canada’s prominent business minds. “If you are really successful in any enterprise, you need to root out where the key points of tension are,” […]

By Steven Lamb |August 30, 2004

3 min read

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Going HNW requires full-time commitment, expert says

(August 30, 2004) Advisors interested in changing to an exclusive focus on high net worth clients can’t go the part-time route, says Toronto-based advisor Kurt Rosentreter. Affluent clients will see through it, the Berkshire advisor said at a recent wealth management conference in Toronto. “HNW is a specialty and if you take it seriously and […]

By Doug Watt |August 30, 2004

2 min read

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