Industry News

IFIC worries about possible postal strike

(July 16, 2003) A strike at Canada Post would result in “serious cost consequences” for mutual fund firms, which depend on mail service for the delivery of documents to investors, IFIC says. The association for Canada’s fund industry has written a letter to federal transport minister David Collenette, expressing concern about the possibility of a […]

By Doug Watt |July 16, 2003

2 min read

Bank of Canada surprises with rate cut

(July 15, 2003) The Bank of Canada has taken many people off guard by cutting its target overnight lending rate by 25 basis points this morning, taking the key interest rate down to 3%. The bank cited the surprise hits taken by the economy in the first half of the year, including the Ontario outbreak […]

By Steven Lamb |July 15, 2003

2 min read

The great disconnect: Fund sales continue to slump as performance improves

Tactical fund managers bullish on equities, analyst says Fund sales stumble again in May Mutual fund sales take April hit as investors ditch money market funds Marketing frontlines: “Will I be OK?” Bear necessities: Preserving your clients’ wealth in down markets Stocks have also enjoyed a positive run of late. Year-to-date, the S&P/TSX Composite index […]

By Doug Watt |July 15, 2003

2 min read

Briefly:

> (July 18, 2003) Altamira is closing down four of its funds, saying that the rates of return are too low to justify their existence. The asset values of the Global Telecommunications Fund, RSP Japanese Opportunity Fund, RSP Global Diversified Fund and RSP Biotechnology Fund have dropped so much that the fixed costs of continuing […]

By Staff |July 14, 2003

4 min read