SPOTLIGHT: F-Class Fund Revolution Stalls
of AIM Mars E*Trade's Cheaper Investing Bid
On-line broker E*Trade Canada on March 30 announced it would sell F-class mutual
funds from Elliott & Page and AIM Funds Management. Problem is, writes personal
finance columnist Rob Carrick, AIM won't allow its F-class funds to be sold by
E*Trade after all.
Whatever transpired, Elliott & Page is the only
company to allow E*Trade to sell its F-class funds. Until E*Trade signs up a
fund industry giant like AIM, then, the F-class revolution for do-it-yourself
investors is effectively on hold. Read Carrick's F-class fund report.
All the Major Players Should Join F-Class Fund
MUTUAL FUND NEWS: Booming Sales, Bad
Timing, Soft Dollars
Fund Sales Boom in March
The big banks continued to lead the sales of funds last month with TD Asset
Management taking the No. 1 spot with $612-million in net sales, according to
IFIC's preliminary figures. It was followed by RBC Asset Management Inc. with
$573-million, CIBC Asset Management with $398-million and BMO Funds with
$335-million. Read Showwei Chu's full report.
OSC Chief Says Market Timing May be Occurring
The chairman of the OSC had acknowledged that
illegal market timing, a practice that has sparked a regulatory furor in the
U.S., could be taking place in the Canadian mutual fund industry. The
regulator plans to detect wrongdoing through on-site reviews of some firms.
Read Karen Howlett's full report.
Outcry Over 'Soft Dollars' Sparks New Hard Line
Pressure is building in the U.S. to put an end to the practice of so-called
soft dollar transactions in the mutual fund industry. Lobbyists, irate
politicians, and several fund companies are looking to ban or restrict the
practice. Read this insightful primer on soft-dollar transactions:
TAXES: Cestnick on Borrowing
Deductions Lost Under Proposed Law
The Department of Finance's recent proposed changes to Canadian tax law will
generally deny interest deductions to just about any investor borrowing to
invest in common shares, mutual funds, or many other marketable securities.
Tim Cestnick delves into this issue.
Profiles: Encana...Hedge Fund Manager
EnCana's Home Field Advantage
EnCana CEO Gwyn Morgan has actually made a megamerger work — so far. He
figures he can keep growing in North America while his competitors charge off
abroad. Will one continent be enough? Read Deborah Yedlin's full report.
A No-Lose Stock Market Can be Humbling for an Active Hedge Fund
Hedge fund manager Martin Braun reports on how easy
it has been to make money in this market over the past year. It's certainly
true what they say about a rising tide. Read the full article.