Prior to July 7, Canadians forced into bankruptcy could kiss their entire retirement savings goodbye. But thanks to a new rule implemented at the beginning of the month, creditors can no longer raid a client’s RRSP savings. The rules also apply to RIFFs and deferred profit sharing plans. Terri Williams, CFP and director of educational […]
(July 2008) To buy or not to buy Canadian equities — that’s the real question many in the financial industry are asking themselves these days. The main index continues to outperform global indices, even in the downturn, but can the party continue? “Some of the caution is warranted,” says Garey Aitken, Bissett Investment Management’s new […]
Don’t expect any bright lights at the end of the long fixed-income tunnel anytime soon — the market continues to spiral downward with no end in sight. A new Investment Industry Association of Canada (IIAC) debt issuance report reveals that total issuance in the debt market dropped to $41.4 billion; that’s an 18% decrease over […]
It was just a few months ago that Canadian economists thought America’s financial misfortunes would turn around in the second half of this year. But according to a new report by Scotiabank, those predictions were premature. “Don’t expect a U.S. recovery anytime soon,” says Warren Jestin, Scotiabank’s chief economist. “The core message in our report […]
As excited as advisors got when the tax-free savings account (TFSA) was introduced in the March 2008 federal budget, the legislation wasn’t perfect. Thanks to new amendments made by the Conservative government, however, some of the TFSA’s flaws have been fixed. One concern advisors and tax experts had in March was related to the laws […]
Almost no one has been spared during the past year’s market meltdown, including pension plan sponsors. A Watson Wyatt report finds that in the past six months, pension funded ratios have been careering wildly due to extreme market volatility. In the first two months of the year, pension funded ratios dropped three points to 103%, […]
There are a lot of differences between institutional managers and retail advisors, especially when it comes to Canada’s economic outlook. Two new surveys, one looking at institutional advisors and the other at retail, show wildly different opinions between these groups. Russell Investments found that institutional managers were becoming more bearish on Canadian equities, with only […]
Sir John Templeton, a legend in the investment industry, passed away Tuesday morning. Templeton, who introduced global equity investing to Canadians with his Templeton Growth Fund, died in a Bahamian hospital from pneumonia. He was 95 years old. The Winchester, Tennessee-born investor and philanthropist is best known for creating the Templeton Growth Fund, one of […]
As America’s economy tanks, Canada’s financial fortunes have remained relatively positive; until now, that is. One of Bay Street’s most vocal bulls is reassessing his outlook for the S&P/TSX Composite index, as stagflation becomes an increasingly greater threat. CIBC economist Jeff Rubin announced today that he expects the TSX to hit 14,300 this year, and […]
There have been a lot of losers during the past year’s market turmoil, and long-term mutual fund assets have been no exception. A new Investor Economics Insight report reveals that, in May 2007, long-term funds brought in just over $3 billion in net flows, but in the same month this year only $537 million came […]