Industry News

CI Funds goes on buying spree, takes over Assante & Synergy

(August 22, 2003) CI Fund Management has moved into the upper echelon of Canada’s mutual fund industry, today acquiring the Canadian operations of Assante Corporation as well as Synergy Asset Management. The combined deals, worth nearly $1 billion, will make CI the number two fund firm in Canada. “We will have about $38.5 billion in […]

By Doug Watt |August 22, 2003

3 min read

CI deals get thumbs-up from industry observers

(August 22, 2003) The massive shake-up that hit the mutual fund sector on Friday morning is being welcomed by those who watch the industry. “CI has been hit hard in this period of net redemptions for the industry,” says Dan Hallett, president of Dan Hallett & Associates Inc. “What they’ve done is picked up two […]

By Steven Lamb |August 22, 2003

4 min read

IPC boss sheds light on restructuring, advisor cuts not part of plan

(August 22, 2003) The Investment Planning Counsel announced restructuring plans yesterday, including the replacement of some of its top executives, but CEO Steve Meehan wants to reassure the firm’s advisors. “We’re not cutting advisor’s payouts, the number of advisors is staying the same,” says Meehan. “We’re just getting rid of the part of our company […]

By Steven Lamb |August 22, 2003

2 min read

IDA cools on firm-only registration

(August 21, 2003) The IDA is backing away from its previous support of a firm-only registration system for the securities industry, proposed by the British Columbia Securities Commission (BCSC). The IDA says such reforms must be implemented on a national basis. “It is unlikely that many or perhaps any other jurisdictions will follow B.C.’s lead,” […]

By Doug Watt |August 21, 2003

2 min read