Industry News

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IDA conference update: U.S. regulators overreacting to fund scandals, says MFS chair

(June 14, 2004) U.S. regulators are going too far in their response to a series of mutual fund scandals, proposing new rules that are both overly prescriptive and costly, says a senior fund industry executive. Robert Pozen, appointed chair of Boston-based MFS Investment Management earlier this year, spoke Monday morning at the IDA’s annual conference […]

By Doug Watt |June 14, 2004

3 min read

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Pozen, Forbes featured at IDA conference

(June 11, 2004) The former vice-chair of Fidelity Investments and the editor-in-chief of Forbes magazine are among the keynote speakers at next week’s IDA conference, scheduled for next week in Mont Tremblant, Quebec. Bob Pozen, who recently retired from Fidelity, will discuss the current crisis in the U.S. mutual fund industry, while Steve Forbes will […]

By Doug Watt |June 11, 2004

2 min read

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Millionaire clients seeking fresh advice

(June 11, 2004) Financial professionals shouldn’t have to look far to find millionaire prospects, a new survey from Taddingstone Consulting Group suggests. The Toronto-based firm says nearly 25,000 Canadian millionaires are on the lookout for a new financial advisor every year. The study also found that while full-service brokers remain the dominant investment advisor to […]

By Geoff Kirbyson |June 11, 2004

3 min read

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Low interest rates spark bond rally

(June 10, 2004) Persistently low interest rates fuelled another strong quarter for bond trading, the IDA says in its latest quarterly report. In the first quarter of the year, the Bank of Canada twice cut its benchmark overnight lending rate by a total of 50 basis points, narrowing the spread between Canadian and U.S. short-term […]

By Doug Watt |June 10, 2004

1 min read

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Costello upbeat heading into CIFPs conference

(June 10, 2004) There’s a certain comfort that comes from being part of a crowd. When trying to make your voice heard on the political or regulatory stage, the size of your organization can be an asset. The more members your group represents, the louder their voice. But while there may be strength in numbers, […]

By Steven Lamb |June 10, 2004

3 min read

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Analyst makes case for market timing

(June 10, 2004) Buy and hold is something of an axiom in the mutual fund industry. Trouble is, this strategy hasn’t worked for the last four years and it isn’t likely to work for the next 11, according to Don Vialoux. Yes, Vialoux is, dare one say it, a market timer. He thinks you ought […]

By Donna Green |June 10, 2004

4 min read

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IDA members report strong profit growth

(June 9, 2004) Improving conditions in the securities markets helped buoy profits among Canada’s investment firms in the first quarter of 2004, with earnings topping $1.2 billion, according to data released today by the IDA. Wealth management and the retail investment business helped propel earnings growth, as investors returned to the markets with renewed confidence. […]

By Steven Lamb |June 9, 2004

2 min read

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Commissions, mutual funds still preferred choice of planners: Survey

(June 9, 2004) Despite the industry’s ongoing debate over fees, Canadian financial planners are still relying on traditional methods of compensation, such as product commissions according to a new survey. The Credo Consulting study also indicates that while Certified Financial Planners favour mutual funds over all other investment choices, alternative products are also growing in […]

By Doug Watt |June 9, 2004

2 min read

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Bond trader sets up election futures market

(June 8, 2004) Canadian bond trader Shorcan Group is offering investors a chance to bet on the outcome of this month’s federal election. The Toronto-based firm has set up a futures market and is accepting bids on the election, based on the popular vote percentage of the five main political parties contesting the June 28 […]

By Doug Watt |June 8, 2004

2 min read

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Higher rates on the way, but not quite yet

(June 8, 2004) The Bank of Canada surprised few today when it announced it was maintaining its overnight lending rate of 2%, with the bank rate staying at 2.25%. “Economic information received since the release of the April Monetary Policy Report (MPR) has been generally consistent with the bank’s expectations for growth and core inflation, […]

By Steven Lamb |June 8, 2004

3 min read

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