Industry News

Decorative pattern

Mutual fund sales hold up through July

(August 5, 2004) July was another month of positive mutual fund sales, despite declining fortunes in both the equity and fixed income markets, according to preliminary data from the Investment Funds Institute of Canada (IFIC). “Net sales for the month of July is expected to be approximately $550 million compared with net redemptions of $1.1 […]

By Steven Lamb |August 5, 2004

2 min read

Decorative pattern

Equity issuance surges despite slow market

(August 5, 2004) Equity markets showed strong signs of recovery in the second quarter, as total equity issuance surged, according to the quarterly report from the Investment Dealers Association of Canada. “Despite slower growth in corporate earnings and flat equity markets, equity issuance of $11.65 billion in Q2 2004 still reached its third highest level […]

By Steven Lamb |August 5, 2004

2 min read

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Oil was the place to be in July

(August 4, 2004) July was a tough month for mutual fund investors, with 22 of 32 Morningstar Canada Fund Indices posting losses on the month, according to preliminary data from the fund research firm. The worst performance was turned in by the Science and Technology Fund Index, which dropped 10.5%. “Profit warnings and sector- and […]

By Steven Lamb |August 4, 2004

2 min read

Decorative pattern

Blended families need special attention

(August 4, 2004) While everything always worked out in the end for the Brady Bunch, life is rarely so neatly wrapped up in 30-minute segments. So-called blended families — those created by the marriage of spouses with children from a previous relationship — face unique financial challenges, according to one expert. “From a financial planning […]

By Steven Lamb |August 4, 2004

3 min read

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Firms catering to independent advisors’ needs amid competitive marketplace

(August 3, 2004) When Henry Ford first came out with his Model T car in 1909, he told customers they could have one in any colour they wanted — as long as it was black. Flash forward to modern times where a similar situation existed in Canada’s financial services industry, as advisors had very little […]

By Geoff Kirbyson |August 3, 2004

4 min read

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Briefly:

(August 6, 2004) Manulife Financial has released its latest earnings report, posting a massive 71% increase in earnings thanks in large part to last year’s acquisition of John Hancock Financial Services. Excluding the $166 million earned by Hancock in the two months since the deal was completed, Manulife earnings increased by $108 million, or 28%, […]

By Staff |August 3, 2004

3 min read

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Fund sales success concentrated

(July 30, 2004) While mutual fund sales have continued to turn in positive monthly performances so far this year, some startling trends have emerged, according to the July issue of Investor Economics Insight. The strongest inflows were not only concentrated among a handful of manufacturers, but were also concentrated among key funds at those firms. […]

By Steven Lamb |July 30, 2004

2 min read

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Super SRO for industry to decide, says MFDA boss

(July 29, 2004) The financial services industry will decide whether or not Canada’s self-regulatory organizations should merge, says the head of the MFDA. But Larry Waite says he personally believes a single SRO might be the right way to go. IDA president Joe Oliver floated the idea of combining the IDA, MFDA and Market Regulation […]

By Doug Watt |July 29, 2004

2 min read

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Survey finds positive views toward OSC

(July 29, 2004) Despite some complaints about excessive red-tape, the “third wave” of the Ontario Securities Commission’s (OSC) Stakeholder Satisfaction survey shows a largely favourable opinion of the OSC, recognizing its role in regulation and enforcement. “As markets emerge from a protracted period of controversy and change, our research demonstrates that the OSC continues to […]

By Steven Lamb |July 29, 2004

3 min read

Decorative pattern

Fund sub-advisors fight over shrinking market

(July 28, 2004) While their asset base has grown steadily throughout the market recovery, competition between mutual fund sub-advisors has become fierce, as fund companies seek to cut costs and move management in-house, according to a report from industry analysis group, Investor Economics. “Sub-advisory firms face ever tougher competition from their peers as the number […]

By Steven Lamb |July 28, 2004

3 min read

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