Industry News

Manulife announces details of Portus guarantee

(March 31, 2005) Manulife Financial is offering clients who were referred to Portus three options to recover 100% of the principal invested in the hedge fund firm, currently under investigation by the Ontario Securities Commission. Clients whose Manulife advisor referred them to Portus can exchange their investment for either a guaranteed principal-protected note, a GIC, […]

By Doug Watt |March 31, 2005

2 min read

Banks closing in on insurance business

(March 31, 2005) The big banks want an even larger chunk of client assets. And they’re looking at products like insurance and mutual funds to drive future growth. At a meeting on Wednesday in Montreal, banking executives spent the day talking up performance and explaining how they plan to capture more customer wallet share. Insurance […]

By Kate McCaffery |March 31, 2005

2 min read

TSX sets sights on derivatives market

(March 31, 2005) The TSX plans to get back into derivatives, chief executive Richard Nesbitt announced in a speech on Thursday. The exchange can’t get into the business until 2009 when its non-compete agreement runs out. The deal was signed in 1999 when the Montreal Exchange (ME) took over the derivatives trading business and transferred […]

By Kate McCaffery |March 31, 2005

2 min read

Manulife standing behind its customers, says CFO

(March 30, 2005) Manulife’s move to protect client funds invested in Portus has been well-received, says the insurance giant’s chief financial officer. But Peter Rubenovitch concedes a regulatory probe of the hedge fund firm created angst among both Manulife advisors and clients. Details of Manulife’s guarantee have not yet been released, but Rubenovitch said on […]

By Doug Watt |March 30, 2005

2 min read