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ADVISOR FOCUS - a newsletter from globeadvisor.com
25 Nov 2004

Current Issue | Subscribe to Advisor Focus | Back Issues


SPOTLIGHT: Fee Wars - Fidelity Fires the First Salvo

Mutual Funds Face Price War
A price war has broken out in the mutual-fund industry that will lower fees for some investors almost immediately and could provide broader savings in coming months. The Canadian arm of Fidelity Investments, the world's largest fund company, announced across-the-board fee cuts yesterday on mutual funds that are sold with an upfront sales commission. It's the most investor-friendly news in a long time from an industry struggling against stagnant sales and allegedly questionable trading practices. Rob Carrick looks at the implications.

Analysis: Fidelity Fires First Salvo in Likely Mutual Fund Fee War

  • DSC Fund Companies Tinker With Sales Charges
    One fund executive calls it ''the fallout from the demographic baby boom.'' It's the DSC, the deferred sales charge that investors pay when they bail from a mutual fund. The fee and its future has the industry up in arms. Keith Damsell reports from the front line.

PERSONAL INVESTING: Capital Gains; Overpatience

  • A How-to Guide on Capital Gains
    Sometimes investors have to take the bad with the good. The good? Sometimes you make money. The bad? Sometimes you don't. Tim Cestnick has a dozen year-end strategies for dealing with capital gains and losses. Today, Tim starts with tips on capital gains.
     
  • Money-Losing Funds: Hold 'em or Fold 'em?
    Holding onto money-losing investments can be sensible, or it can be crippling. Knowing the difference can save your clients from portfolio losses that may take years to heal. Rob Carrick does the math.
     
  • Couple Seeks Freedom Via Real Estate
    Two twentysomethings leave the corporate world to attain the independence and flexibility that successful real estate investing can provide. Tony Martin tells their tale.

INCOME TRUSTS: Look Before You Leap

  • A Little Income Trust Myopia Could be a Dangerous Thing
    An epidemic of self-destructive performance chasing has broken out among mutual fund investors. They're selling equity funds, notably global funds, and moving into income-oriented funds that hold dividend stocks, bonds and, of course, those ever-enticing income trusts. Rob Carrick has the eye-opening facts.
     
  • Trust Sector Bracing for High Dollar Effect
    There could be more income trusts cutting distributions because of the stronger dollar, Allan Meyer, vice-president of Wickham Investment Counsel, told Report On Business Television. He warns investors to be cautious of income trusts with significant operations in the United States. Aaron Sobeski reports.
     
  • With Trusts, Focus on the Business
    Ever since Canadian investment bankers started cranking out business trusts for individual investors looking for yield, a line in the sand has been drawn between those who felt these inventions were just what the public needed and those that concluded the opposite. Martin Braun has the details.

THE BIG PICTURE: The Absence of Ethics

  • CEOs: Stop Whining and Take the Lead on Ethics
    Are there any ethics in business? In the past three years, we've seen executives reaping huge rewards through generous deals with themselves; auditors' independence compromised by big consulting fees; stock analysts, mutual funds and insurance brokers all accused of shady dealings in return for undisclosed compensation. Where does the buck stop? According to Janet McFarland, at the top.