Sentry Select Capital Corp., as manager of Sentry Select MBS Adjustable Rate Income Fund II, today announced that Fixed Income Discount Advisory Co. (FIDAC) has resigned as investment manager of Mortgage-Backed Securities Limited Partnership. The fund obtains exposure to the LP through a forward agreement.FIDAC’s resignation will become effective on July 14.FIDAC advised that the […]
National Bank Securities Inc., manager of National Bank Mutual Funds, today announced that it is reducing the management fees on the investor and advisor series of the National Bank Global Bond Fund to 1.50% from 1.75%, effective immediately.The manager says the lower management fees on the fund will also have a positive impact on the […]
Oil climbs above US$127 mark
Desjardins Group has booked an additional $220 million writedown on asset-backed commercial paper, nearly doubling its ABCP-related charges to $493 million.The country’s largest credit union, based in Lévis, Que., said yesterday the first-quarter writedown reduced surplus earnings before member dividends to $67 million.The $220 million writedown represents 11.1% of Desjardins’ $1.66 billion in ABCP holdings. […]
Walsh elected non-executive chairman of the board
U.S. regulators are warning international investors that advance-fee fraudsters are impersonating regulators as part of their scams.The Financial Industry Regulatory Authority issued an updated investor alert warning international investors about a new twist in advance-free fraud involving low-priced US securities. Con artists have been misusing FINRA’s name and impersonating FINRA employees in email communications in […]
Hedge fund returns rebounded a bit in April, according to the Credit Suisse/Tremont Hedge Fund Index.The index rose 0.57% last month. “After a difficult first quarter for global financial markets, hedge funds rebounded in April, driven primarily by gains in the Long/Short Equity sector,” explained Oliver Schupp, president of Credit Suisse Index Co., Inc.“Stronger than […]
Technology analyst to be based in Toronto
TSX mulls future migration of TSXV symbols
Commodity boom drives provinces to top of GDP growth