Industry News

Money markets drag fund sales lower

September is traditionally a troubled month for the investment industry, and though mutual fund returns were largely positive, actual sales were in negative territory, according to preliminary data from the Investment Funds Institute of Canada (IFIC). The industry posted net redemptions of between $475.9 million and $975.9 million for the month. If there is a […]

By Steven Lamb |October 5, 2009

2 min read

Briefly:

The return of investors to the market is giving a boost to the exchange-traded funds sector, according to one provider of these vehicles. For details, and to read other financial services industry updates, click the “full story” button below. PARAGRAPH: The return of investors to the market is giving a boost to the exchange-traded funds […]

By Staff |October 5, 2009

5 min read

Defining financial planning a top task

Setting out a vision statement for the next 10 years, the largest financial planning standards body in Canada held a symposium in Toronto on Monday, where the topic of regulating and defining what it means to be a financial planner was front and centre. Outside of Quebec, anybody can call themselves a financial planner, and […]

By Mark Noble |October 5, 2009

4 min read

Industrial Alliance buys Inhance, enters SRI space

IA Clarington, a subsidiary of Industrial Alliance, has announced plans to purchase the SRI mutual fund business of Inhance Investment Management from its current owner, Vancity, one of Canada’s largest credit unions. The purchase price was not released, but the proposed deal also involves a long-term distribution agreement between Industrial Alliance and Vancity, under which […]

By Doug Watt |October 2, 2009

2 min read