Industry News

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Seeing red: March fund sales drop again after brief recovery in February

(April 15, 2003) After a short-lived respite, mutual fund sales returned to familiar territory last month, with net outflows of $105 million, according to data released today by the Investment Funds Institute of Canada. In the past year, sales have finished in the red every month but one. Money market funds accounted for all of […]

By Doug Watt |April 15, 2003

2 min read

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MFDA reaches deal with Quebec regulators

(April 15, 2003) After more than a year of talks, the Mutual Fund Dealers Association has reached a co-operative agreement with regulators in Quebec. Under the terms of the deal, the MFDA, Bureau des service financiers (BSF) and the Chambre de la securité financière will work together to supervise fund dealers with operations in Quebec. […]

By Doug Watt |April 15, 2003

2 min read

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Q1 results bring more performance misery for mutual funds

(April 14, 2003) Despite a market rally in March, mutual fund performance for the first three months of the year was overwhelmingly negative. Ninety-one per cent of Canadian mutual funds lost money in the first quarter of 2003, according to data released today by Morningstar Canada. “While the war in Iraq boosted U.S. equity markets […]

By Doug Watt |April 14, 2003

2 min read

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CIFPs announces details of founding conference

(April 11, 2003) The Canadian Institute of Financial Planners, the new kid on the advisor association block, has announced details of its first conference, to be held in Ontario’s Muskoka region on June 2 and 3. Industry speakers at the two-day event include Financial Planning Standards Board chair John Carpenter and Investment Funds Institute of […]

By Doug Watt |April 11, 2003

2 min read

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Governance coalition appoints former finance minister as chair

RBC Global Investment Management Standard Life Investments Ltd. Trustees of the I.U.O.E. Local 793 Pension Plan for Operating Engineers in Ontario TAL Global Asset Management UBS Global Asset Management Filed by Doug Watt, Advisor.ca, dwatt@advisor.ca (04/11/03) Ontario Teachers’ Pension Trust OPSEU Pension Trust RBC Global Investment Management Standard Life Investments Ltd. Trustees of the I.U.O.E. […]

By Doug Watt |April 11, 2003

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New CSA chair touts uniform securities harmonization project

(April 10, 2003) The new chair of the Canadian Securities Administrators has made it clear he wants to focus on harmonizing the country’s securities laws, not creating a single national regulator. Stephen Sibold, appointed as CSA chair this week, says his uniform securities legislation project is in the “right place at the right time” as […]

By Doug Watt |April 10, 2003

2 min read

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Are you a winner in our third anniversary contest?

Donald J. Inch of Victoria, B.C. Anita Kuindersma of Vancouver, B.C. Ian Mellott of Georgetown, Ontario Maureen Smith of Simcoe, Ontario Michele Soregaroli of Vancouver, B.C. Thank you again to everyone for your entry and support in making Advisor.ca the most relevant and timely Web site for financial services professionals across the country. Diane Geverink […]

By John Craig |April 9, 2003

1 min read

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Pension deficit not to blame for Air Canada’s troubles, says federal regulator

(April 9, 2003) Air Canada’s $1.3 billion pension plan deficit did not force the airline into bankruptcy protection, according to the Office of the Superintendent of Financial Institutions, the regulator responsible for federal pension plans. Testing earlier this year revealed the possibility of a deficit, OSFI says. The regulator then asked Air Canada to put […]

By Doug Watt |April 9, 2003

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Alberta’s securities head honcho takes seat as new CSA chair

(April 8, 2003) Alberta Securities Commission head Stephen Sibold has been given the offical nod to become the new chair of the Canadian Securities Administrators, the umbrella organization for Canada’s 13 securities regulators. Sibold takes over from British Columbia Securities Commission chair Douglas Hyndman, who served as CSA chair for the past eight years. “As […]

By John Craig |April 8, 2003

1 min read

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Top 50 tax-efficient mutual funds in Canada

(April 8, 2003) "Taxes exceed management fees and brokerage commissions in their ability to erode long-term investment returns," write Amin Mawani and Moshe Milevsky, both professors at the Schulich School of Business at York University in Toronto, and Kamphol Panyagometh, a post-doctoral researcher working with Mawani and Milevsky. Their work, “The Impact of Personal Income […]

By Scot Blythe |April 8, 2003

2 min read

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