Industry News

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RBC revises provincial economic outlook

(May 20, 2004) The Canadian economy is expected to slow over the course of 2004 and into 2005, with recent high-flying provincial economies suffering the greatest setbacks, according to RBC Economics’ Provincial Outlook report. The report identifies Saskatchewan and Newfoundland and Labrador as the weakest overall economic performers. This comes on the heels of two […]

By Steven Lamb |May 20, 2004

3 min read

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Former Assante execs launch new firm

(May 19, 2004) A group of former Assante executives today announced the creation of a new investment management firm. Tetrem Capital Partners, headed by Assante chief investment officer Daniel Bubis, will act as a sub-advisor to Assante. “This is a great opportunity,” said Bubis. “I’m excited to be part of an independent firm focused on […]

By Doug Watt |May 19, 2004

2 min read

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Equity gains boost CPP assets

Related News Stories CPP earns $3 billion in latest quarter CPP is sound, says investment chief The CPPIB president and CEO also announced today that he plans to retire at the end of the current fiscal year. He says he will take an active role in finding a replacement, a process that is expected to […]

By Doug Watt |May 19, 2004

2 min read

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Moratorium will help labour fund sector, say experts

(May 19, 2004) The Ontario budget tabled yesterday demonstrated the ministry of finance’s understanding of the serious issues facing labour sponsored investment funds (LSIFs), according to the head of that sector’s industry association. “I think it’s part of the maturity of the industry,” says Dale Patterson, executive director of the Association of Labour Sponsored Investment […]

By Steven Lamb |May 19, 2004

3 min read

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Industry welcomes income trust consultations

(May 18, 2004) The federal government has confirmed that it will re-examine limitations placed on pension fund ownership of business income trusts, announced in the 2004 budget in March. “The government’s overarching goal remains to ensure that funding for priorities such as health care and education is not jeopardized by the erosion of the corporate […]

By Steven Lamb |May 18, 2004

2 min read

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DC pension plan members seen favouring outside advice

(May 18, 2004) Employees who are members of defined contribution (DC) pension plans feel they lack investing knowledge and are looking for financial advice, a survey released today suggests. But most firms remain reluctant to provide advice, forcing employees to look for alternative sources. A study conducted by SEI Investments Canada reveals that 79% of […]

By Doug Watt |May 18, 2004

2 min read

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Ontario introduces healthcare premiums, tinkers with taxes

(May 18, 2004) Backing down from an earlier promise not to raise taxes, the Ontario government today introduced a healthcare premium, designed to fund billions of dollars in new spending. The premiums — the major announcement in the Liberal government’s first budget — will be used to fund an additional $4.8 billon in health spending […]

By Staff |May 18, 2004

4 min read

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Briefly:

(May 21, 2004) The six-month grace period for mutual fund dealers and salespersons with clients in provinces where they are not registered has expired, the MFDA said in a bulletin issued today. The MFDA issued a regulation notice on out of province registration last October, requiring dealers and salespersons to address the situation by either […]

By Staff |May 17, 2004

5 min read

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Regulators approve IDA anti money laundering measures

(May 17, 2004) Provincial securities regulators have rubber-stamped an IDA policy that requires increased disclosure of offshore account ownership. The move is an attempt by the brokerage industry association to combat international money laundering. Under the new policy — an amendment to the IDA’s “know your client” requirements — member firms must identify the beneficial […]

By Doug Watt |May 17, 2004

2 min read

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Income, balanced funds top April sales

(May 17, 2004) The Canadian mutual fund industry continued to post strong sales in April, as investors pumped $1.7 billion in new cash into the market, according to IFIC. “Net sales are the strongest for an April since 1998. Sales for the first four months of 2004 totaled $12.3 billion, compared with $8.8 billion in […]

By Steven Lamb |May 17, 2004

3 min read

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