Industry News

Decorative pattern

Oil drives mutual funds returns

(October 4, 2004) With natural disasters and human conflicts driving the price of oil higher, natural resources offered the best gains for mutual fund investors in September, according to the latest data from Morningstar Canada. “The price of oil was bid up as U.S. oil production was hampered by Hurricane Ivan and social unrest continued […]

By Steven Lamb |October 4, 2004

2 min read

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September slump for fund sales

(October 4, 2004) For the first time in a year, mutual fund sales dipped into negative territory in September, according to preliminary data from IFIC. Sales are expected to be between minus $550 and minus $150 million, the fund industry association reported on Monday. Mutual fund sales haven’t been in negative territory since September, 2003. […]

By Doug Watt |October 4, 2004

1 min read

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Compensation disclosure sparks advisor debate

(October 1, 2004) The thorny question of how much clients need to know about advisor compensation stirred up debate this week in Advisor.ca’s online forum, the Talvest Town Hall. Although most advisors agree clients should be aware of how much an investment costs, there’s some argument as to whether it’s necessary to provide a complete […]

By Doug Watt |October 1, 2004

3 min read

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U.S. economy losing

(October 1, 2004) Despite a positive spin by the U.S. administration and the Federal Reserve, America’s economic prospects leave little to cheer about, according to one economist. The engine of the economy, the U.S. consumer, is about to run out of gas. “Up to about three or four months ago everyone was pretty sure that […]

By Steven Lamb |October 1, 2004

4 min read

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Fund industry needs to defend itself

(September 30, 2004) The mutual fund industry needs to step up and defend itself, or risk serious damage to its reputation, according to one crisis management communications specialist. “Everybody seems to be forgetting about defending the basic fund product category,” says Bruce MacLellan, president of Environics Communications. “Everybody is so head-down, competing against each other […]

By Steven Lamb |September 30, 2004

4 min read

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Advisor’s Edge editor wins IFIC journalism award

(September 30, 2004) Advisor’s Edge managing editor Deanne Gage took third prize in IFIC’s annual journalism awards program honouring Canadian writers for excellence in personal finance reporting. The awards, which have an English and French component, were handed out today at IFIC’s annual conference in Toronto. Gage’s article “Time is Expiring” appeared in the July […]

By Heidi Staseson |September 30, 2004

1 min read

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Ontario opts out of passport model

(September 30, 2004) Six provinces and one territory have signed a deal pledging to work towards implementing the so-called “passport” approach to securities reform. However, Ontario is refusing to take part. Provincial ministers representing Quebec, New Brunswick, Manitoba, British Columbia, Saskatchewan, Alberta and Yukon met in Calgary today and signed an inter-provincial memorandum of understanding […]

By Doug Watt |September 30, 2004

2 min read

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Advisors

(September 29, 2004) Financial advisors know little about socially responsible investing and therefore can’t offer useful advice on SRI products, an international online survey indicates. Although the Internet study — conducted by a PhD student at Australia’s Macquarie University earlier this year — is not statistically valid with only 400 respondents, it does reveal some […]

By Doug Watt |September 29, 2004

2 min read

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Market timing dominates opening session at IFIC conference

(September 29, 2004) With all the recent regulatory and media scrutiny over market timing in the mutual fund industry, it perhaps wasn’t surprising that the issue quickly became the prevailing theme at the opening of IFIC’s annual conference on Wednesday in Toronto. Ned Goodman, head of Dynamic Mutual Funds, started the ball rolling during an […]

By Doug Watt |September 29, 2004

3 min read

Decorative pattern

Consumer groups leading charge for fund industry reform

(September 28, 2004) There’s optimism that the involvement of consumer groups will lead to substantial change in Canada’s much-maligned mutual fund industry. CARP, Canada’s Association for the Fifty-Plus, and the Small Investor Protection Association (SIPA) today officially released a report calling for numerous fund industry reforms, including the establishment of a new Investor Protection Agency. […]

By Doug Watt |September 28, 2004

3 min read

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