Industry News

IFIC chair resigns over Norbourg fraud investigation

(August 26, 2005) Investment Funds Institute of Canada chairman, Michel Fragasso resigned his position last night after two companies he is involved in were shut down by Quebec regulators. Fragasso is chair of Fonds Evolution Inc., and vice president of Norbourg Asset Management Inc. His decision to step down comes after the Autorité des marchés […]

By Kate McCaffery |August 26, 2005

2 min read

Time to cash in on Canada?

(August 26, 2005) With oil prices hitting record highs, it’s no surprise that the energy-heavy Canadian stock market has outperformed other world markets this year. But should investors be favouring Canadian equities to take advantage of those soaring energy prices, or is it time for some profit-taking? Those are the questions posed by CI fund […]

By Doug Watt |August 26, 2005

2 min read

First-time homebuyers need to think ahead

(August 25, 2005) Potential new homebuyers appear unfazed by the prospect of higher mortgage rates, perhaps because few of them understand the long-term effects, according to a report from a leading realty firm. In a survey by Royal LePage, new homebuyers and potential buyers were asked: “If you have a $150,000 mortgage and the interest […]

By Steven Lamb |August 25, 2005

2 min read

Norbourg shut down amid fraud allegations

(August 25, 2005) Montreal-based Norbourg Asset Management has been shut down by regulators in Quebec who allege that $70 million belonging to mutual fund investors has been embezzled. As many as 5,000 investors may be affected. At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs […]

By Doug Watt |August 25, 2005

2 min read