Industry

IFIC cuts back on stats reports

IFIC announced late Monday that it would no longer include sales data for individual fund companies in its monthly sales report. Instead, IFIC will report on sales by asset class and CIFSC category. The decision comes after a string of major companies pulled out of offering such data to the group. “IFIC, as the official […]

By Steven Lamb |February 15, 2011

1 min read

Mutual fund sales top estimates

The mutual fund industry beat sales forecasts in January 2011, with total net sales of $3.05 billion, topping The Investment Funds Institute of Canada’s preliminary forecast of between $2.45 billion and $2.95 billion. Total mutual fund assets ended the month at $641.8 billion, up $6.1 billion from December and a hefty $85.4 billion since last […]

By Steven Lamb |February 15, 2011

1 min read

Manulife buys Optique Capital Management

Manulife Asset Management has acquired the assets of Milwaukee, Wisconsin-based Optique Capital Management, along with eight members of that firm, who will comprise a new equity team. At the end of 2010, Optique’s mutual fund and separate account assets under management amounted to about $800 million. The team will be led by Wendell L. Perkins, […]

By Staff |February 14, 2011

1 min read

MFDA finds against Tadeusz Bytnar

A disciplinary hearing in the matter of Tadeusz (“Ted”) Bytnar (the “Respondent”) concluded yesterday in Calgary, Alberta before a three-person Hearing Panel of the MFDA’s Prairie Regional Council. After hearing submissions from Staff of the MFDA, the Hearing Panel found that the following allegations in the Notice of Hearing had been established: Allegation #1: In […]

By Staff |February 14, 2011

2 min read