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5/26/2017 2:59:21 PM
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By Fund Library News Wire | Thursday, May 25, 2017



By David Barr and Felix Narhi, PenderFund Capital Management

We’ve been asked a lot recently about whether or not we have exposure to certain headline housing stocks in our equity portfolios. Fortunately, the answer is no. We think this is a good opportunity to highlight some of the key aspects of our investment strategy and why we shied away from stocks in the non-prime housing market.


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By Fund Library News Wire | Friday, May 19, 2017

By Mike Keerma

* Political risk spooks markets.
* Franklin Templeton launches target return fund.

* Political risk spooks markets. The major stock indices lost ground marginally on the week, after a steep mid-week dip as traders digested growing political uncertainty in Washington, which has the potential of derailing President Trump’s ambitious tax-cutting agenda. This week’s drama was driven by President Donald Trump’s previous firing of FBI Director James Comey, and the appointment of former FBI Director Robert Mueller as special counsel to lead a federal investigation into whether there was Russian interference in the presidential election. While political risk focused traders’ attention this week, it remains to be seen whether it has any staying power, as steady economic growth and strong first-quarter earnings reports provided something of a reality check against the clouds of political hot air emanating from the U.S. capital. The Canadian benchmark S&P/TSX Composite Index rose 1.2% in Friday’s session as the price of crude oil rallied to close Friday at US$50.41, up 5.2% on the week. But it wasn’t enough to prevent the index from slipping -0.5% on the week. The U.S. blue-chip S&P 500 Composite Index rallied nearly 1% in Friday’s trading, but edged down -0.4% on the week overall. The tech-weighted Nasdaq Composite Index posted a weekly loss of -0.6%.


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By Fund Library News Wire | Friday, May 12, 2017

By Mike Keerma

* Cooling U.S. inflation sinks yields, flattens stocks.
* Excel debuts asset allocation ETFs.
* RBC launches global real estate ETF.
* Franklin Templeton introduces four ETFs.

* Stocks flat on the week. Softness in financial stocks held Toronto’s S&P/TSX Composite Index down for a hairline -0.3% loss on the week, despite some strength in resources, as crude oil gained 3.1% on the week. Canadian financials continued to feel the ripple effects of the troubles at alternative mortgage lender Home Capital Group Inc. (TSX: HCG), which saw a run on its deposits over the past couple of weeks and sought a $2 billion line of credit from a consortium of lenders to keep the company solvent as it prepares to sell assets. In the U.S., soft retail sales in April (up only 0.4%) and a cooling core inflation rate (1.9% year-over-year in April) helped push Treasury yields lower, as traders downgraded expectations of another two rate hikes by the Federal Reserve Board this year. The S&P 500 Composite Index retreated a relatively modest -0.4% on the week, while the Nasdaq Composite Index gained 0.3%, as investors continued to focus on earnings (still relatively strong in the first quarter) and economic growth.


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By Fund Library News Wire | Friday, May 05, 2017

By Mike Keerma

* Stocks buoyed by earnings, U.S. jobs.
* Middlefield merges funds.
* Desjardins adds to multifactor ETF lineup.


The major U.S. stock indices rallied late in the week, bouncing back from a mid-week slide, as market were buoyed by a 211,000 gain in U.S. non-farm payrolls in April and a 4.4% unemployment rate. The S&P 500 Composite Index edged up 0.6% on the week, while the Nasdaq Composite Index gained nearly 1%. Both benchmarks recorded record high closes on Friday as quarterly earnings continue to exceed expectations. Energy stocks rallied during the week, propelled by crude oil which rose on Friday following a report from Saudi Arabia that Russia will join Opec in curtailing production in an effort to shrink a global supply overhang that’s been keeping prices below US$50 per barrel. Toronto’s benchmark S&P/TSX Composite Index also rallied on Friday led by resource issues as msot commodity prices rallied late in the week. However, on the week, gold was still down -3.3% and crude oil slid -5.5%.


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By Fund Library News Wire | Friday, April 28, 2017

By Mike Keerma

* Upbeat earnings spur U.S. markets, while TSX lags.
* Mackenzie adds to income fund lineup.
* Front Streeet proposes fund merger.

* Upbeat earnings spur U.S. markets, while TSX lags. U.S. stock markets closed Friday noticeably higher on the week, as first-quarter earnings reports continued to exceed analysts’ estimates, especially among technology stocks, where both Alphabet Inc. (NASDAQ: GOOG) and Amazon.com Inc. (NASDAQ: AMZN) reported street-beating earnings. In addition, markets were buoyed by the prospect of personal and corporate tax cuts announced by President Donald Trump on Wednesday. The S&P 500 Composite Index advanced 1.5% on the week and 1% on the month. The tech-weighted Nasdaq Composite Index advanced 2.3% on both the week and the month. Toronto’s S&P/TSX Composite Index shaved a hairline 0.2% on the week as the financial sector lost ground on investor anxiety over troubled mortgage lender Home Capital Group Inc. (TSX: HCG). The Index gained only 0.3% in April overall, while crude oil and gold prices slipped on the week, with crude oil prices sliding -3.0% during the month.


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By Fund Library News Wire | Friday, April 21, 2017

By Mike Keerma

U.S. stock markets closed Friday with slim losses on the day, but advanced on the week as President Trump announced he would be releasing a “massive tax cut” package next week. Markets have been generally leery of the Trump Administration’s policy announcements, particularly after the recent failure of the bill to replace Obamacare to make it to a vote in the House of Representatives. In addition, economists are expecting a softening of economic growth in the first quarter with next Friday’s release of quarterly GDP numbers. The S&P 500 Composite Index advanced 0.9% on the week, while the Nasdaq Composite Index gained 1.8%. Toronto’s benchmark S&P/TSX Composite Index meanwhile gained a modest 0.5% on the week, as crude oil prices softened in the wake of growing U.S. production and the lack of any evidence that purported Opec production cuts are having any impact on prices at all. The price of gold also softened on the week, as geopolitical concerns faded from the headlines


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By Fund Library News Wire | Thursday, April 13, 2017

Toronto’s benchmark S&P/TSX Composite Index closed Friday with a loss on both the day and the week. Bank and other financial stocks softened as falling bond yields got investors anxious about bank earnings. Canadian financial stocks followed the U.S. financial sector down, as investors south of the border digested earnings reports from the U.S. financial majors and weighed the impact of growing geopolitical tensions between Russia and the U.S., as well as military action in Syria, off the coast of North Korea, and in Afghanistan. The yield on 10-year U.S. Treasury bonds fell as investors sought safe haven ahead of the Easter long weekend. New York’s blue-chip S&P 500 Composite Index retreated 1.1% on the week, while the Nasdaq Composite Index closed down 1.2% week-over-week. Gold was the major beneficiary of the move to safe haven assets, gaining 2.6% on the week. Crude oil, meanwhile advanced 1.2% on the week owing mostly to geopolitical risk.


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By Fund Library News Wire | Tuesday, April 11, 2017



By Felix Narhi, Co-CIO & Portfolio Manager, Penderfund Capital Management

As we reflect on the recent announcement that Panera Bread Co. (NASDAQ: PNRA), a holding in several of Pender’s funds, is about to go private thanks to a takeover by European holding company JAB, we are left feeling somewhat bittersweet. While this development is probably perceived as terrific news by most market participants, we believe some investors with a longer time horizon may feel differently. So why would the takeout of Panera, at a decent premium, be less-than-ideal news?


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By Fund Library News Wire | Friday, April 07, 2017

By Mike Keerma

* Market wrap: Toronto gains, New York fades on week
* Desjardins debuts suite of ETFs.

* Excel to merge India funds.
* RBC to merge SRI funds.
* BMO adds global sector ETFs.


The major U.S. stock indices ended with modest weekly losses, as the U.S. March jobs report showed a gain of only 98,000 new non-farm payrolls, down from the more than 200,000 jobs created in each of January and February, while the unemployment rate ticked down to 4.5%. A U.S. missile strike on a Syrian airforce base on Friday had only limited impact on investor sentiment, as the indices closed flat on the day. The S&P 500 Composite Index lost -0.3% on the week, while the Nasdaq Composite Index retreated 0.6%. Toronto’s S&P/TSX Composite Index rose 0.8% on the week overall, as crude oil rose, gaining 3.1% on the week.


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By Fund Library News Wire | Tuesday, April 04, 2017

FINANCIAL LITERACY REPORT
 

By Sandra MacGregor, Mediaplanet

When it comes to investing, sometimes the best thing to invest in is knowledge. While there are no sure things in financial markets, one thing is certain: the more you know, the better your chance of making your hard-earned money grow. But reading isn’t always enough, as it can be hard to know where to turn for accurate and trustworthy advice.


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By Fund Library News Wire | Friday, March 31, 2017

By Mike Keerma

* Stocks post Q1 gains but fade in March.
* Horizons launches medical marijuana ETF
.
* Federal budget puts some fund mergers on hold.
* Dynamic proceeds with fund mergers.


Solid economic growth, on-target inflation rates, and positive earnings estimates propelled North America’s major market indices to solid gains in the first quarter of 2017. Despite lofty stock valuations, investors bet that the Trump Administration would cut corporate taxes and relax some of the regulatory overeach that was characteristic of the Obama Adminstration, particularly in energy and healthcare. So for the first quarter at least, stocks posted solid gains south of the border, as the S&P 500 Composite Index advanced 5.5%, despite flattening out in March. Propelled by strong gains in the IT sector, the Nasdaq Composite Index gained nearly 10% in the first three months, with a 1.5% advance in March. Toronto’s S&P/TSX Composite Index lagged somewhat, posting a 1.7% first-quarter gain, buoyed by strength in the financial sector. Crude oil dropped -5.8% in the quarter, while gold gained 8.2%.


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By Fund Library News Wire | Friday, March 24, 2017

By Mike Keerma

* Stocks sag through the week.
* Manulife merges funds into new portfolios
.
* TD debuts ETF portfolios.

* Stocks sag through the week. The senior U.S. stock indices sagged through the week and closed Friday with weekly losses as a major healthcare bill was pulled by Republicans before it could be put to a vote in the House of Representatives. The S&P 500 Composite Index lost 1.4% on the week, while the Nasdaq Composite Index slid 1.2%. Toronto’s S&P/TSX Composite Index ended the week virtually flat, logging a hairline -0.3% loss, as a 1.4% weekly gain in the price of gold buoyed gold stocks, while the Trump Administration’s approval of TransCanada Corp.’s (TSX: TRP) Keystone XL pipeline helped support the energy sector at the end of the week, despite a -1.3% week-over-week decline in the price of crude oil.


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By Fund Library News Wire | Friday, March 24, 2017



By Geoff Castle, Portfolio Manager, Pender Corporate Bond Fund

Low default risk and short duration are keys to attractive risk/reward in the current corporate credit market. There are two different scenarios that we consider when we try to mitigate the effects of risk in the Pender Corporate Bond Fund.


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By Fund Library News Wire | Friday, March 24, 2017
By Fund Library News Wire | Thursday, March 23, 2017



Investing may seem like a daunting task. There appears to be so much we need to know. However, much like planning a trip, buying a home, or looking after our health, the key to successful investing is having the right information, a well-constructed plan and, often, the right advice. Yes, this takes effort when we might rather be doing something else, but once the planning is complete, we’re on our way.


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By Fund Library News Wire | Friday, March 17, 2017

By Mike Keerma

* Stocks flatten out.
* Improving U.S. economic outlook.
*
Canadian job gains in February.
* (Canada) Goosing the stock.


* Stocks flatten out. The major North American indices ended pretty much flat on the week, as the U.S. Federal Reserve Board’s Open Market Committee on Wednesday raised its benchmark federal funds rate to 1.00% from 0.75%, reflecting robust job creation and employment rates as well as a 2% inflation rate that is near the Fed’s target. Toronto’s S&P/TSX Composite Index dipped -0.1% below breakeven on the week, weighed down by declines in financial and resource stocks. U.S. blue-chip S&P 500 Composite Index edged up 0.2% on the week, while the Nasdaq Composite Index gained 0.7%, putting the tech-weighted gauge ahead 9.6% year to to date. Gold gained 2% on the week, as bond yields inched down, and crude oil gained 0.6% but remained below US$50/barrel on the week.


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By Fund Library News Wire | Thursday, March 16, 2017

By Mike Keerma

* Redwood lists two preferred share funds on NEO.
* Investors Group merges 20 funds.

* Top 10 fund categories for February.

* Redwood lists two preferred share funds on NEO. Redwood Asset Management Inc. announced on March 15 that its two new income-generating preferred share funds have begun trading on the NEO Stock Exchange.


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By Fund Library News Wire | Friday, March 10, 2017

By Mike Keerma

* Stocks lose ground for the week.
* RBC shuts down two BonaVista funds.
* Invesco launches two PowerShares foreign dividend ETFs.


* Stocks lose ground. North America’s major stock indices lost ground on the week, despite a solid U.S. jobs report that saw 235,000 payrolls added in February, with the unemployment rate now sitting at 4.7%. Most observers believe that will spur the U.S. Federal Reserve Board to raise its benchmark federal funds rate at its regularly scheduled rate policy meeting next Tuesday and Wednesday, March 14-15. However, the relatively upbeat jobs data on Friday were not enough to overcome sliding investor sentiment through the week, as crude oil dropped -8.9% on the week and gold retreated -2.6%. The U.S. blue-chip S&P 500 Composite Index lost -0.4% on the week, while the Nasdaq Composite Index fell -0.2%. Toronto’s benchmark S&P/TSX Composite Index retreated 0.7% for the week, reacting to weakness in the energy sector.


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By Fund Library News Wire | Monday, March 06, 2017



By Mark Taucar, Accilent Capital Management

There are a few aspects of investment analysis that I’ve found to be particularly wanting – the subjectivity of traditional tire kicking analysis and the pitfalls of doggedly adhering to only one form of analysis (fundamental, technical, quantitative, etc). Can a so-called “passive” investment strategy using index-tracking products like exchange-traded funds truly overcome these weaknesses?


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By Fund Library News Wire | Friday, March 03, 2017

By Mike Keerma

* Market wrap: Yellen speaks, markets advance.
* Fund news: National Bank terminates and/or merges 35 funds and series.

* Market wrap: Yellen speaks, markets advance. Stock markets advanced on the week in both Canada and the U.S., buoyed by the potential for another rate hike by the U.S. Federal Reserve Board this month following a speech by Fed Chairwoman Janet Yellen on Friday. The U.S. blue-chip benchmark S&P 500 Composite Index backed off its record high set during the week, but still gained 0.7% on the week overall. Similarly the Nasdaq Composite Index advanced 0.4% on the week, and is now ahead over 9% year to date. Toronto’s benchmark S&P/TSX Composite Index gained 0.5% on the week, following the U.S. markets’ lead with an additional boost from better-than-expected fourth-quarter GDP growth.


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