Industry News

Morningstar confirms May a tough month for funds

Investors who sold in May and went away could be heaving a sigh of relief, as long as they sold at the beginning of the month. Equity mutual funds took a pounding as global markets faced their first real market correction in years, according to the latest performance data from Morningstar Canada. Of the 31 […]

By Steven Lamb |June 2, 2006

3 min read

Briefly:

(June 2, 2006) The sharp drop in energy and material stocks last month was likely only a blip, predicts CIBC World Markets chief strategist Jeff Rubin, who maintains that resources will push the S&P/TSX Composite Index to 15,000 by the end of 2007. “The 460-point decline in the TSX in May presents an ideal buying […]

By Staff |June 2, 2006

4 min read

First Portus cheques in the mail

Without so much as a press release, the investment industry has started the unprecedented step of returning referral fees to clients who bought into Portus Alternative Asset Management. But at least one firm has missed the deadline. As part of a deal struck earlier this year between the Ontario Securities Commission, the Investment Dealers Association […]

By Mark Brown |June 2, 2006

3 min read

Fund sales expected to weather May correction

Despite a poor month on the markets, mutual fund sales are expected to come in at a respectable $350 million in May, according to preliminary estimates from IFIC. Based on sample data, May net new sales will be in the range of $100 to $600 million, IFIC reported Friday. Still, that’s down sharply from May […]

By Doug Watt |June 2, 2006

2 min read