Industry News

Fund sales’ losing streak hits nine months

(January 15, 2003) In a pattern similar to most of 2002, mutual fund sales finished in the red in December as nervous investors continued to redeem funds. Outflows reached $238 million last month, according to the Investment Funds Institute of Canada, the ninth consecutive month of redemptions. Similar to November, when outflows were $580 million, […]

By Doug Watt |January 15, 2003

3 min read

Industry

U.S. index fund founder blasts mutual fund shift from stewardship to marketing

(January 15, 2003) John Bogle, founder of Vanguard Group, one of the largest U.S. mutual fund companies and a pioneer in index investing, thinks the fund industry has changed for the worse since he first began following it in 1949. Most notably, he feels that U.S. mutual funds have moved from stewardship to salesmanship, with […]

By Scot Blythe |January 15, 2003

5 min read

Industry

Younger Canadians more worried about catastrophic illness: Poll

(January 14, 2003) Younger people are more worried about suffering a severe illness such as a stroke, cancer or heart attack than middle-aged or older Canadians. And Canadians who have a financial advisor want their advisor to tell them about their options, according to a poll by Ipsos-Reid and RBC Insurance. The survey, conducted in […]

By Scot Blythe |January 14, 2003

2 min read

Industry

Franchise model for independent advisors launched in Quebec

(January 14, 2003) Quebec’s mutual fund distribution landscape underwent a dramatic shift last week with the launch of Nodus, a franchise-type operation aimed at advisors who want to set up their own independent firms. A recent change to the province’s securities laws allows individuals to register their own independent securities firm. It’s estimated that about […]

By Doug Watt |January 14, 2003

2 min read