Industry News

Fund sales tepid in June: IFIC

Mutual fund sales were “decent” in June, according to preliminary data compiled by the Investment Funds Institute of Canada, totalling between $1.46 billion and $1.96 billion. “June is the month when Canadians begin to wind down and take summer vacations. Still, we expect June sales to come in at a decent $1.7 billion,” said Pat […]

By Steven Lamb |July 3, 2008

2 min read

Briefly:

(July 2, 2008) Manulife has announced that it is rebranding Berkshire-TWC Financial Group as Manulife Securities, closing the book on the sometimes troubled brand. As of today, the company’s mutual fund dealerships, Manulife Securities International Ltd. and Berkshire Investment Group Inc., will be named Manulife Securities Investment Services Inc. The securities-registered business will operate as […]

By Staff |July 2, 2008

3 min read

Investors turn to ETFs to fight volatility

Apart from shifting a client’s money into more conservative assets, such as money-market funds or fixed income, the most basic way to offset volatility in a client portfolio is diversification. According to Heather Pelant, head of iShares for Barclays Canada, ETFs are the cheapest way to get quick exposure to sometimes very specific asset categories. […]

By Mark Noble |July 2, 2008

4 min read

OSC grants fundcos extra year for refund

AIC: $58.8 million AGF: $29.2 million CI: $49.3 million IG: $19.2 million Franklin Templeton: $49.1 million The original orders were based on OSC findings that the five fund companies had allowed certain investors to move assets in and out of their funds on a short-term basis. Such movements are not prohibited, but the fund companies […]

By Steven Lamb |July 2, 2008

2 min read