Industry News

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Venture capital industry slides again

(February 17, 2004) Venture capital (VC) activity continued to decline in 2003, with both the total value of disbursements and the number of deals sagging, according to a report from the Canadian Venture Capital Association (CVCA). “Reduced capital raised by funds, together with uncertain market outlooks for portfolio companies, has made venture investors cautious,” says […]

By Steven Lamb |February 17, 2004

2 min read

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Briefly:

(February 20, 2004) The Ontario Teachers’ Pension Plan (OTPP) posted an 18% return in 2003, the third-best performance in the fund’s 14-year history. The plan’s net assets climbed to $75.7 billion at the end of last year, compared to $66.2 billion in 2002. “We were surprised at the strength of the markets this year. All […]

By Staff |February 16, 2004

7 min read

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IFIC reports strong fund sales in January

(February 16, 2004) Mutual fund sales continued to strengthen in January, with net new sales of long-term funds hitting $1.8 billion, up from $1.3 billion in December, according to IFIC. An additional $292.8 million in distributions was reinvested as well, taking the net sales total to $2.1 billion. Gross sales of all funds, including money […]

By Steven Lamb |February 16, 2004

2 min read

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Beware of performance ads, says fund analyst

(February 16, 2004) The mutual fund advertising landscape has changed dramatically this RRSP season. After several years promoting the benefits of long-term investing and financial planning, the fund industry has returned to performance-based advertising. That’s a dangerous game, says analyst Dan Hallett. Historical data on fund flows reveals a strong tendency for investors to chase […]

By Doug Watt |February 16, 2004

2 min read

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Lure of the boutique examined in mid-February’s Advisor’s Edge

(February 13, 2004) There’s a certain mystique about breaking free from restraints, choosing your own path and heading out on the open road. Coming on the heels of an era where “bigger is better” was the business mantra, many top advisors are deciding to break away from their bank-based practice and charting a course with […]

By Steven Lamb |February 13, 2004

2 min read

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Pension plans targeted by environmental, anti-smoking groups

(February 13, 2004) Two of the country’s largest pension plans are being criticized for their investment policies. Environmental groups are targeting the Ontario Teachers Pension Plan (OTTP), while Physicians for a Smoke-Free Canada is taking on the CPP. Greenpeace and the Sierra Youth Coalition say the OTTP, with $68 billion in assets, is Canada’s largest […]

By Doug Watt |February 13, 2004

3 min read

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Don’t junk high-yield bonds, portfolio manager suggests

(February 12, 2004) With last year’s scramble for income products, investors found themselves driving yields lower by bidding up the price of their preferred investments. Given this drop in yields, some may question whether there is any room left to profit in the debt market. “Given the relatively low interest rate environment and low government […]

By Steven Lamb |February 12, 2004

3 min read

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CPP earns $3 billion in latest quarter

(February 12, 2004) Robust equity markets combined with positive bond returns boosted CPP assets by $3.1 billion in the three months ending December 31, 2003 — a 5% return. Year-to-date, CPP assets are up nearly $8 billion or 14%, the CPP Investment Board (CPPIB) reported today. “We’re pleased by our results this quarter and so […]

By Doug Watt |February 12, 2004

2 min read

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LSIF group fires back at industry newcomer

(February 11, 2004) An association representing labour-sponsored investment funds (LSIFs) responds to criticisms from an industry newcomer, calling its criticisms “misleading.” “The LSIF industry makes a significant contribution to Canada, and it is regrettable that a new entrant has decided to make such broad and critical generalizations, ultimately for their own gain,” says Dale Patterson, […]

By Steven Lamb |February 11, 2004

2 min read

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No systemic abuses found in first stage of fund probe, Ontario regulator says

(February 11, 2004) The Ontario Securities Commission (OSC) has completed the first phase of its probe into mutual fund trading practices. No details were released, but the regulator says it has found no evidence of systemic abuse. The commission won’t say whether that means some abuses have been found. The regulator is now moving onto […]

By Doug Watt |February 11, 2004

3 min read

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