Industry

Inflation worries spark interest rate hike

(April 15, 2003) Pointing to rising inflation, the Bank of Canada today raised its key overnight lending rate by 25 basis points to 3.25%. The central bank says that since its last interest rate announcement in March, inflation has remained well above the 2% target rate and that measures of inflation expectations have edged up. […]

By Doug Watt |April 15, 2003

2 min read

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

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

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