Industry

Decorative pattern

Briefly:

(September 19, 2003) Advocis and the Conference for Advanced Life Underwriting (CALU) have called on the federal government to reduce debt and raise RRSP contribution limits in a pre-budget submission to Parliament. “Canada’s population is aging and this will have a serious impact on our country’s healthcare system,” said Advocis president Steve Howard. “We need […]

By Staff |September 15, 2003

5 min read

Decorative pattern

Weinberg tackles U.S. market from Winnipeg base

(September 15, 2003) Marty Weinberg is confident his soon-to-be spun-off American company will become even larger than his recently-sold Canadian one. The Assante CEO is preparing for life in the ultra-competitive U.S. market after selling off his firm’s Canadian division to CI Fund Management last month. “We retained the growth piece of our business in […]

By Geoff Kirbyson |September 15, 2003

3 min read

Decorative pattern

Mutual funds post strong sales, performance in August

(September 15, 2003) Canadian investors continued to sock their savings away in mutual funds in August. For the second consecutive month, the fund industry enjoyed positive sales, according to the latest update from IFIC. Net sales topped $304 million last month, with an additional $294 million in distributions reinvested. In July, net sales reached $321 […]

By Steven Lamb |September 15, 2003

2 min read

Decorative pattern

MFDA promises to review every member

(September 12, 2003) Mutual fund dealers, be forewarned: Keep your books in order — sooner or later, everyone will come under scrutiny. As a self-regulatory organization, the MFDA is currently reviewing both the sales practices and financial operations of all its members. So far the MFDA compliance office has completed 44 examinations but eventually every […]

By Steven Lamb |September 12, 2003

2 min read

Decorative pattern

Ontario regulator promises busy fall season for fund companies

Canadian Securities Administrators release report on fund governance (September 11, 2003) With three major initiatives on the horizon, Ontario Securities Commission (OSC) staff acknowledge that fund companies may be feeling under the gun. What’s more, these initiatives all have a November-December due date, upping the pressure on investment product manufacturers to file comments on strictures […]

By Scot Blythe |September 11, 2003

4 min read

Decorative pattern

U.S. economy stronger than it seems, IFIC delegates told

(September 11, 2003) Despite appearances to the contrary, the American economy is actually doing quite well, says Lloyd Atkinson, former vice-chair and chief strategist at Perigee Investment Counsel. “It’s a complete and utter myth that the U.S. economy is weak,” Atkinson said this morning during a keynote address at IFIC’s annual conference in Toronto. Atkinson […]

By Doug Watt |September 11, 2003

2 min read

Decorative pattern

Fund industry assets forecast to rise to $700 billion by 2010

(September 10, 2003) The days of explosive growth may be over, but that doesn’t mean Canada’s mutual fund sector is on the decline, industry leaders believe. Fund assets could rise by at least $300 billion by the end of the decade, predicts IFIC president Tom Hockin. “This industry still has room to grow,” Hockin said […]

By Doug Watt |September 10, 2003

3 min read

Decorative pattern

Fewer Canadians working with financial professionals, survey concludes

(September 9, 2003) The number of Canadians using the services of a financial professional to help manage their money appears to be on the decline. A consumer survey released today by the Financial Planners Standards Council (FPSC) reveals that 39% of Canadians are currently working with a financial professional, compared to 49% when the same […]

By Doug Watt |September 9, 2003

3 min read

Decorative pattern

Briefly:

(September 12, 2003) Boston-based Putnam Investments is exercising an option to boost its stake in Toronto’s Sceptre Investment Counsel by about 5%, bringing its total stake to just under 10%. “This purchase is an expression of our confidence in the quality of the Sceptre management team and in the strength of its investment management,” said […]

By Staff |September 9, 2003

4 min read

Decorative pattern

SEC must learn to play nice with other regulators, U.S. economist says

(September 9, 2003) The U.S. must stop pretending to hold a monopoly on the securities industry and adopt mutual recognition of foreign regulators, according to one of America’s leading international economists. “There is a stark dichotomy between the way America invests and the way America governs,” says Dr. Benn Steil, André Meyer senior fellow in […]

By Steven Lamb |September 9, 2003

3 min read

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