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ADVISOR FOCUS - a newsletter from globeadvisor.com
7 Feb 05

Current Issue | Subscribe to Advisor Focus | Back Issues


SPOTLIGHT: Sizing Up Funds

Too Much Cash Not Always a Good Thing, Managers Say
At what size will a mutual fund's assets under management hinder a manager's ability to outperform his peers? By capping a fund, some claim, a manager has the flexibility to buy larger positions without tipping off their competitors, while others with a larger asset base arguably trade less effectively. Keith Damsell weighs the pros and cons.

  • Sometimes, Last Year's Winners Worth a Second Look
    Though the cases are rare, a cogent argument can sometimes be made for buying into funds that have exceeded most of their peers recently. Exhibits A and B: Mackenzie Cundill Value and three of the O'Shaughnessy funds offered by RBC Asset Management. Read Rob Carrick's reality check.

View the four funds on a Globeadvisor.com Fund Report
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  • Indexing Makes Sense -- but not with Mutual Funds
    Index investing does makes sense, writes Rob Carrick, unless you use index funds. Costly to own, they're distant second choice behind ETFs as a way to put the indexing strategy to work. Rob Carrick looks at the numbers.

MANAGER PROFILE: E&P's Ted Whitehead

  • A Rookie no More, Ted Whitehead's got Game
    In March, 2000, as the tech boom was hitting its peak, Whitehead was appointed lead manager of a growth-oriented fund. He soon discovered how slow managing equities could be, even in a hot market. Investors ignored the fund and kept riding sure things, like Nortel. Whitehead has more than made up for his slow rookie season. The Growth Opportunities Fund he runs for Manulife subsidiary Elliott & Page has averaged 20%-plus annual returns and has about $378 million in assets. Wayne Lilley reviews the stats sheet.

INDUSTRY NEWS: AGF, AIC and January

  • Fourth-quarter Charges Put Dent in AGF's Bottom Line
    Mutual fund company AGF Management Ltd. turned in a loss for the fourth quarter amid rising costs -- including a $29.2-million settlement with the Ontario Securities Commission. Keith Damsell explains AGF's earnings miss.
     
  • Weak Performance Plagues AIC
    On the good news front, AIC has made a series of moves over the past year to end redemptions. New fund managers have been brought on to improve performance, the fee structure is under review and a new marketing team, led by industry veteran David Whyte, has been hired to sell the AIC story. Read up on AIC's current challenges.
     
  • January Sales Slip at Biggest Fund Firms
    IFIC expects to report January net sales of between $1.3-billion and $1.7-billion, which still falls short of net sales of $1.8-billion for the same period a year ago. Click here to preview the numbers.

BOOK REVIEW: Retirement Myths

  • Beware of Doom-and-Gloom Retirement Warnings
    It's always useful to read what your clients may be reading. The current booklist includes a critical look at the investment industry by Chartered Accountant David Trahair: Smoke and Mirrors, Financial Myths that will Ruin Your Retirement. Read the book review.