Industry News

Portus temporarily shut down by OSC

(February 3, 2005) The Ontario Securities Commission has ordered hedge fund manager Portus Alternative Asset Management to stop opening new accounts and to stop accepting new assets under a temporary order issued late Wednesday. That order could be extended at a hearing scheduled for Thursday, February 17. The OSC issued the order “in the public […]

By Kate McCaffery |February 3, 2005

2 min read

Resourceful fund investors gained in January

(February 2, 2005) The natural resource sector continued to provide mutual fund investors with strong gains in January, returning to the top spot on the Morningstar Canada performance tables after a pullback in December, 2004. The Morningstar Canada Natural Resources Fund index gained 3.1% in the first month of 2005, thanks in large part to […]

By Steven Lamb |February 2, 2005

2 min read

Equity funds underperforming benchmark, says S&P

(February 2, 2005) Only about one-quarter of actively-managed Canadian equity funds outperformed the S&P/TSX Composite Index in 2004, according to Standard & Poor’s latest Indices Versus Active Funds Scorecard (SPIVA). The results for last year show 23.6% of actively-managed Canadian equity funds outperformed the TSX, similar to the U.S., where 29.8% of U.S. equity funds […]

By Doug Watt |February 2, 2005

2 min read

New Year starts solidly for fund sales

(February 2, 2005) January marked another strong month for the mutual fund industry, with net sales estimated at between $1.3 and $1.7 billion, according to IFIC. That’s not quite as high as January 2004, when net sales reached $1.8 billion, but tops last month’s figure of $1.2 billion. “With January seeing the fifth straight month […]

By Doug Watt |February 2, 2005

1 min read