Industry News

Standard Life promotes two execs

Standard Life Assurance Company of Canada has promoted Michel Fortin to senior vice president of Marketing and Customer Solutions, and Kevin Powers to senior vice president of Finance and Strategy. The appointments are effective August 13 and September 10, 2012 respectively, and both execs will be based at the Montréal head office. Fortin joined Standard […]

By Staff |August 2, 2012

1 min read

Sprott buys Flatiron Capital Management

Sprott has completed its acquisition of Flatiron Capital Management Partners, an alternative investment manager specializing in market-neutral strategies. To date, Flatiron has approximately $260 million in assets under management. “The purchase of Flatiron allows us to introduce specialty income strategies to investors,” says Peter Grosskopf, CEO of Sprott. The company also launched the Sprott Flatiron […]

By Staff |August 2, 2012

1 min read

Resource-heavy funds see gains in July

After four consecutive months in the red, resource-heavy equity funds in Canada offered healthy gains at 2.4% in July, finds Morningstar Canada. Read: Equity sectors face losses in May “[News] the ECB will ‘do whatever it takes’ to keep the common currency intact was enough to raise the price of gold and oil by 3% […]

By Staff |August 2, 2012

2 min read

Spain’s sovereign rating faces possible downgrade

Spain’s long-term government debt rating is stable for now, says ratings firm S&P, so long as the government doesn’t increase the country’s bank bailout, reports the Wall Street Journal. Struggling Bankia—the country’s third largest lender—was rescued in late May, with an infusion of $23.78 billion, or €19 billion. And while Prime Minister Mariano Rajoy said […]

By Wire services |August 1, 2012

2 min read