Industry

Briefly:

Canadians are showing more confidence in the economy’s future, according to results from the TNS Canadian Facts’ Consumer Confidence Index. The index increased by 6% to 99.2 from 93.4 in July. Each of the three indices that produce the overall index posted sizeable increases in August. The Present Situation Index, which captures evaluations of the […]

By Staff |August 13, 2009

4 min read

Opinion: HST to push mutual funds off the shelf

There is nothing funny about even higher mutual fund MERs, but MERs are sure to rise next summer. The Harmonized Sales Tax (HST) slated to come into effect in July 2010 in Ontario (where the lion’s share of IFIC member firms are located) will be the cause. I confess that I find the comments from […]

By John De Goey |August 13, 2009

3 min read

With AIC gone, who’s next?

Wednesday’s announced sale of AIC Ltd.’s mutual fund business to Manulife came as little surprise to many in the industry, but it has revved up the rumour mill on what consolidation plays could lie ahead in the asset management industry. “It’s the cycle; it will continue,” says Dan Hallett, president of Dan Hallett & Associates […]

By Steven Lamb |August 13, 2009

3 min read

Manulife buys AIC funds

Manulife Financial has struck a deal to purchase the retail mutual fund business of AIC from Portland Holdings Inc., the private holding company of Michael Lee-Chin. “This is a great fit for Manulife and AIC Limited,” said Paul Rooney, president and CEO of Manulife Canada. “When coupled with Manulife’s solid wealth management services, this agreement […]

By Steven Lamb |August 12, 2009

3 min read