Industry News

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Pension plans targeted by environmental, anti-smoking groups

(February 13, 2004) Two of the country’s largest pension plans are being criticized for their investment policies. Environmental groups are targeting the Ontario Teachers Pension Plan (OTTP), while Physicians for a Smoke-Free Canada is taking on the CPP. Greenpeace and the Sierra Youth Coalition say the OTTP, with $68 billion in assets, is Canada’s largest […]

By Doug Watt |February 13, 2004

3 min read

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CPP earns $3 billion in latest quarter

(February 12, 2004) Robust equity markets combined with positive bond returns boosted CPP assets by $3.1 billion in the three months ending December 31, 2003 — a 5% return. Year-to-date, CPP assets are up nearly $8 billion or 14%, the CPP Investment Board (CPPIB) reported today. “We’re pleased by our results this quarter and so […]

By Doug Watt |February 12, 2004

2 min read

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Don’t junk high-yield bonds, portfolio manager suggests

(February 12, 2004) With last year’s scramble for income products, investors found themselves driving yields lower by bidding up the price of their preferred investments. Given this drop in yields, some may question whether there is any room left to profit in the debt market. “Given the relatively low interest rate environment and low government […]

By Steven Lamb |February 12, 2004

3 min read

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LSIF group fires back at industry newcomer

(February 11, 2004) An association representing labour-sponsored investment funds (LSIFs) responds to criticisms from an industry newcomer, calling its criticisms “misleading.” “The LSIF industry makes a significant contribution to Canada, and it is regrettable that a new entrant has decided to make such broad and critical generalizations, ultimately for their own gain,” says Dale Patterson, […]

By Steven Lamb |February 11, 2004

2 min read

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No systemic abuses found in first stage of fund probe, Ontario regulator says

(February 11, 2004) The Ontario Securities Commission (OSC) has completed the first phase of its probe into mutual fund trading practices. No details were released, but the regulator says it has found no evidence of systemic abuse. The commission won’t say whether that means some abuses have been found. The regulator is now moving onto […]

By Doug Watt |February 11, 2004

3 min read

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Investors must pay more attention to exchange rates, says TD

(February 10, 2004) U.S. equity markets delivered stellar returns in 2003. But Canadian investors missed out on much of those gains due to the loonie, which surged 20% last year against the greenback. Exchange rate considerations must become an integral part of the investment process, says TD Economics in a report released today. “The most […]

By Doug Watt |February 10, 2004

2 min read

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Briefly:

(February 13, 2004) The Canadian Securities Administrators (CSA) are calling on the income trust sector to clean up its disclosure practices, following a study of 40 trusts last year. While some of the trusts, which were not named, were in compliance in each category, the CSA found deficiencies in disclosure of distributable cash, comparative figures, […]

By Staff |February 9, 2004

7 min read

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Equity market financing hits five-year high

(February 9, 2004) Stock market financing reached a five-year peak in the fourth quarter of last year with equity issues totalling $14 billion, the IDA says. Rising stock markets, continued economic growth in the U.S., low interest rates and tame inflation were the main reasons for the gains, the brokerage industry association said in its […]

By Doug Watt |February 9, 2004

1 min read

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Financial planning added to CIFPs E&O coverage

(February 9, 2004) Fee-based financial planners will now be eligible for errors and omissions insurance (E&O) coverage under the terms of the Canadian Institute of Financial Planners’ (CIFPs) new E&O policy. The ACE-INA policy, revealed last week, has two categories — one for transaction-based planners and one for fee-based planners, says CIFPs managing director Keith […]

By Doug Watt |February 9, 2004

2 min read

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Survey sees reasonable economic growth for Canada in 2004

(February 6, 2004) The Canadian economy can look forward to a year of moderate growth with low inflation and a stabilized exchange rate, according to a survey by Watson Wyatt, consultants in human capital and financial management. “The survey results reaffirm that the Canadian economy is on course for prosperity, as experts anticipate an improvement […]

By Steven Lamb |February 6, 2004

3 min read

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