Industry News

Decorative pattern

Stock market recovery in the cards, advisors believe

(April 17, 2003) With the Iraq conflict all but resolved, Canada’s financial advisors are looking for a stock market rally, suggests a survey conducted by The ADVISOR Group. Nearly 60% of advisors responding to a recent online poll said they expect stock prices to rise over the next few months. When the same question was […]

By Doug Watt |April 17, 2003

2 min read

Decorative pattern

U.S. turns up heat on hedge fund industry

Hedge funds revealed: Canadians prepare to embrace absolute return strategies (April 17, 2003) Newly appointed Securities and Exchange Commission chair William Donaldson reported on the SEC’s continuing fact-finding inquiry into hedge funds to a Congressional committee last week, declaring his uneasiness over the "retailization" of hedge funds. Before the Senate Committee on Banking, Housing and […]

By Scot Blythe |April 17, 2003

4 min read

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Industry challenged to press for regulatory reform

(April 16, 2003) Canada’s financial services industry must speak out on the issue of regulatory reform or risk being stuck with the status quo, participants attending a Toronto breakfast session were warned today. Following a speech by Investment Dealers Association president Joe Oliver, several prominent insiders urged industry participants to seize the opportunity for change. […]

By Doug Watt |April 16, 2003

3 min read

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Inflation worries spark interest rate hike

(April 15, 2003) Pointing to rising inflation, the Bank of Canada today raised its key overnight lending rate by 25 basis points to 3.25%. The central bank says that since its last interest rate announcement in March, inflation has remained well above the 2% target rate and that measures of inflation expectations have edged up. […]

By Doug Watt |April 15, 2003

2 min read

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Seeing red: March fund sales drop again after brief recovery in February

(April 15, 2003) After a short-lived respite, mutual fund sales returned to familiar territory last month, with net outflows of $105 million, according to data released today by the Investment Funds Institute of Canada. In the past year, sales have finished in the red every month but one. Money market funds accounted for all of […]

By Doug Watt |April 15, 2003

2 min read

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MFDA reaches deal with Quebec regulators

(April 15, 2003) After more than a year of talks, the Mutual Fund Dealers Association has reached a co-operative agreement with regulators in Quebec. Under the terms of the deal, the MFDA, Bureau des service financiers (BSF) and the Chambre de la securité financière will work together to supervise fund dealers with operations in Quebec. […]

By Doug Watt |April 15, 2003

2 min read

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Q1 results bring more performance misery for mutual funds

(April 14, 2003) Despite a market rally in March, mutual fund performance for the first three months of the year was overwhelmingly negative. Ninety-one per cent of Canadian mutual funds lost money in the first quarter of 2003, according to data released today by Morningstar Canada. “While the war in Iraq boosted U.S. equity markets […]

By Doug Watt |April 14, 2003

2 min read

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CIFPs announces details of founding conference

(April 11, 2003) The Canadian Institute of Financial Planners, the new kid on the advisor association block, has announced details of its first conference, to be held in Ontario’s Muskoka region on June 2 and 3. Industry speakers at the two-day event include Financial Planning Standards Board chair John Carpenter and Investment Funds Institute of […]

By Doug Watt |April 11, 2003

2 min read

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Governance coalition appoints former finance minister as chair

RBC Global Investment Management OPSEU Pension Trust Ontario Teachers’ Pension Trust MFC Global Investment Management Mackenzie Financial Corp. LaSalle Firefighters Pension Plan KBSH Capital Management Inc. Jarislowsky Fraser Limited International Finance Participation Trust Franklin Templeton Investments Corp. Connor, Clark & Lunn Investment Management Burgundy Asset Management AMI Partners Inc. Aurion Capital Management Inc. Alberta Teachers’ […]

By Doug Watt |April 11, 2003

2 min read

Decorative pattern

New CSA chair touts uniform securities harmonization project

(April 10, 2003) The new chair of the Canadian Securities Administrators has made it clear he wants to focus on harmonizing the country’s securities laws, not creating a single national regulator. Stephen Sibold, appointed as CSA chair this week, says his uniform securities legislation project is in the “right place at the right time” as […]

By Doug Watt |April 10, 2003

2 min read

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