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ADVISOR FOCUS - a newsletter from
13 July 2004

Current Issue | Subscribe to Advisor Focus | Back Issues

SPOTLIGHT: Putting the Brakes on Market Timing

RBC Takes Steps to Stamp out Abusive Trading in its Funds

Royal Bank of Canada has adopted a system to update prices of mutual funds that have international stock holdings, part of a revamped effort to stamp out abusive trading in its funds.

The bank's mutual fund arm has recently begun using the fair value pricing model for foreign stocks to curb market timers who take advantage of time-zone differences in international funds, where events after overseas markets close often make prices out of date. Read Karen Howlett's full report.

Plus: Market Timing Not Always Profitable: CI Fund

More: Peruse the Globe's recent Mutual Fund Special Investigation

  • Bond Mutual Funds -- Here's the Best of a Bad Lot
    At a time when interest rates are rising and the outlook for bonds is as poor as it has been in ages, investors are piling funds. Does this make sense? Read Rob Carrick's Insight.
  • Fund Managers Find their Voice
    An unlikely group of party crashers upstaged CEOs during this spring's round of AGMs. Fund managers, typically a low-key group, spoke up to address corporate governance issues and choppy equity markets. Read Keith Damsell's report.
  • Asia Funds Seen as Hot Performers
    An estimated $350-million in new investment flowed into the Canadian mutual fund sector last month, continuing the industry's steady recovery. Read Keith Damsell's report.

Moving Stateside...Mortgage Conundrum

  • Brain Drain: In Search of Greener Grass in the U.S.
    For clients who are contemplating moving to the United States, it's important to note that both tax rates and the cost of living are important factors to consider before making the move. Tim Cestnick breaks out the numbers.
  • Mortgages: A Compromise Solution May be Best
    One of the most hotly debated, easily answered questions in personal finance today is whether to lock into a fixed-rate mortgage or go with a variable rate. Read Rob Carrick's analysis.

More: View Mortgage Rates on

TODAY'S PAPER: Inter Pipeline…Exporting…Lifetime Ban

  • Partnerships: Inter Investors Have No Say: Would You Sign Up for a Deal like This?
    Raw deal? Inter Pipeline's management firm hires the executives and pays them; the executives run the company and help find assets to buy; the management firm takes millions of fees in return. The public shareholders write some big cheques, yet have no say. Would you sign up for a deal like this? Derek DeCloet analyzes another deal that leaves shareholders cold.
  • Exporters Roll with Punches from Stronger Canadian Dollar
    The sharp rise in the Canadian dollar wasn't the "knockdown punch" for exporters that many had feared, with the sector holding up surprisingly well, according to TD Bank. Terry Weber reports.
  • Ex-CIBC Broker Faces Fine, Banned for Lifetime
    A former CIBC World Markets Inc. broker has been banned from the industry for life and fined $435,000 for misappropriating clients' money, issuing fictitious account statements, and personally compensating clients for losses. Read Karen Howlett's report.