New Master Declaration of Trust for I.G. Investment Management funds
Canadians are a bit more worried about prospects for the Canadian economy in the next year but remain confident about the longer term, a survey released today shows.The Harris/Decima-Investors Group Index of Canadian Consumer Confidence fell 1.7 points to 86.1 from the last quarter.The data, based on a telephone survey of 2,012 Canadians between Aug. […]
IBM Corp. today said it signed a $480 million multi-year agreement to manage Scotiabank’s information technology operations, including data centres, branches, automatic banking machines and help-desk support.The contract includes advanced technologies such as server virtualization and new service delivery capabilities, as well as a new global framework to support Scotiabank’s worldwide operations.“Scotiabank understands technology can […]
The Investment Dealers Association today said it will hold an Oct. 22 hearing in Montreal to consider a settlement agreement with Dan Ionescu, a former registered rep with iForum Securities Inc.“The offences occurred between May 2003 and January 2004 and pertain to a lack of due diligence on the part of Mr. Ionescu to ascertain […]
The powerhouse C$ today reached parity with the US$ for the first time since November 1976, actually touching $1.003 US before easing down a bit.The Bank of Canada confirmed the milestone, saying the first equal meeting of the two currencies took place in late-morning trading.The C$, which closed today at 99.87 cents US, has soared […]
The worst of the U.S. subprime mortgage meltdown is yet to come, but losses won’t be as high as the markets have already priced-in, CIBC World Markets said today.While the rate of U.S. mortgage defaults is surging to unprecedented levels, the market has actually overpriced the scope of the problem, it said in a report. […]
The major markets are expected to begin the day on a mixed note, as investors once again become wary about the U.S. economy and world oil prices.Futures prices were slightly lower for the Dow Jones industrial average, S&P 500 and the Nasdaq 100.A pre-open surprise, however, was news that investment bank Goldman Sachs Group reported […]
Canada’s Provincial Credit Union Centrals and Desjardins Group today said they have created a partnership aimed at increasing the growth rate of The Ethical Funds Co. and Northwest Mutual Funds Inc. through increased product distribution.The deal creates a national investment firm with $5.5 billion in assets under management. Northwest Funds and Ethical Funds will be […]
TD Asset Management Inc. today said it has established an independent review committee to act as an impartial judge to review any potential conflicts of interest within its fund families.The company is manager of TD Mutual Funds, TD Managed Assets Program Portfolios, TD Private Funds and TD Emerald Funds fund families.“The mandate of the IRC […]
A new survey of Canadian market professionals found that 61% of respondents plan on recommending their clients increase equity exposure in the next 12 months, says JovFunds Management Inc. The wholly owned subsidiary of Jovian Capital Corp. said it surveyed more than 350 investment professionals, with 73% from member firms of the Investment Dealers Association […]