Last updated: Feb-27-2017

    
 
Fund Library News Wire
2/27/2017 10:33:25 PM
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Current news, updates, and market information.


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

By Mike Keerma

* More records for U.S. indices, TSX backs off.
* EdgePoint closes Series O portfolios.
* BMO lists ETFs on NEO Exchange.
* LOGiQ shuts down Macquarie infrastructure fund.


* More records for U.S. indices, TSX backs off. The major U.S. market indices went on to close at fresh record highs again last week, while Canadian stocks retreated. The U.S. blue-chip S&P 500 Composite Index closed the week with a 0.7% advance, following the lead of the roaring Dow Jones Industrial Average, which gained 1% on the week, pushing it into new high territory with a record close of 20,821.76 on Friday. The Nasdaq Composite Index logged a hairline 0.1% advance on the week, closing Friday just marginally below a record advance. The U.S. indices were led higher by gains in utilities and telecom stocks, even as lagging energy and financial stocks put a damper on the ebullience. Toronto’s benchmark S&P/TSX Composite Index, however, lost 2% on the week, retreating in the face of sliding energy and financial stocks, which are overweighted in the index. Gold, meanwhile, gained 1.8% on the week, while crude oil advanced 1.3%.


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

By Mike Keerma

* More records for U.S. indices, TSX backs off.
* EdgePoint closes Series O portfolios.
* BMO lists ETFs on NEO Exchange.
* LOGiQ shuts down Macquarie infrastructure fund.


* More records for U.S. indices, TSX backs off. The major U.S. market indices went on to close at fresh record highs again last week, while Canadian stocks retreated. The U.S. blue-chip S&P 500 Composite Index closed the week with a 0.7% advance, following the lead of the roaring Dow Jones Industrial Average, which gained 1% on the week, pushing it into new high territory with a record close of 20,821.76 on Friday. The Nasdaq Composite Index logged a hairline 0.1% advance on the week, closing Friday just marginally below a record advance. The U.S. indices were led higher by gains in utilities and telecom stocks, even as lagging energy and financial stocks put a damper on the ebullience. Toronto’s benchmark S&P/TSX Composite Index, however, lost 2% on the week, retreating in the face of sliding energy and financial stocks, which are overweighted in the index. Gold, meanwhile, gained 1.8% on the week, while crude oil advanced 1.3%.


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By Fund Library News Wire | Monday, February 20, 2017

KNOWLEDGE BASE



This backgrounder has been prepared to provide accurate information about two new personalized annual reports that investors are beginning to receive this month under CRM2 – new reporting requirements set in place by the Canadian Securities Administrators that are summarized at the end of this article. The primary purpose of the backgrounder is to address frequent factual errors observed in media coverage about the content of the new reports.


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

By Mike Keerma

Against a backdrop of climbing inflation and more hawkish signals from the Federal Reserve Board, U.S. stock markets closed at record highs on Friday, extending a streak of record high closes through February. The S&P 500 Composite Index advanced 1.5% on the week, and is now ahead 5.0% year to date, while the Nasdaq Composite Index advanced 1.8% on the week for an 8.5% gain year to date. In Canada, declining copper, gold, and crude oil prices weighed on Toronto’s benchmark S&P/TSX Composite Index on Friday, but the index still gained 0.7% on the week, and is now ahead 3.6% year to date.


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

By Mike Keerma

Against a backdrop of climbing inflation and more hawkish signals from the Federal Reserve Board, U.S. stock markets closed at record highs on Friday, extending a streak of record high closes through February. The S&P 500 Composite Index advanced 1.5% on the week, and is now ahead 5.0% year to date, while the Nasdaq Composite Index advanced 1.8% on the week for an 8.5% gain year to date. In Canada, declining copper, gold, and crude oil prices weighed on Toronto’s benchmark S&P/TSX Composite Index on Friday, but the index still gained 0.7% on the week, and is now ahead 3.6% year to date.


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

By Mike Keerma

* Mackenzie Quadrus fund reclassified.
* New BMO income ETFs begin trading.
* Top 10 fund categories – January 2017.


* Mackenzie Quadrus fund reclassified. Mackenzie Financial Corp. announced on Feb. 14 that it is reclassifying its Quadrus Diversified Fixed Income Folio Fund to Canadian Fixed Income from Global Fixed Income under the Canadian Investment Funds Standards Committee fund classification system. The fund has also imposed a foreign content limit of 30% and changed the risk rating for the fund to Low from Low-to-Medium.


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

By Mike Keerma

* Mackenzie Quadrus fund reclassified.
* New BMO income ETFs begin trading.
* Top 10 fund categories – January 2017.


* Mackenzie Quadrus fund reclassified. Mackenzie Financial Corp. announced on Feb. 14 that it is reclassifying its Quadrus Diversified Fixed Income Folio Fund to Canadian Fixed Income from Global Fixed Income under the Canadian Investment Funds Standards Committee fund classification system. The fund has also imposed a foreign content limit of 30% and changed the risk rating for the fund to Low from Low-to-Medium.


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By Fund Library News Wire | Tuesday, February 14, 2017

 

By Keith McLean, President and CIO, Sphere Investments

The current and forecasted interest rate environment will continue to make it difficult for investors to find sufficient yield in fixed income markets in 2017. This will force investors to look elsewhere and increase the demand for equity investment strategies that seek high yields. These high-yield strategies can expose investors to extreme-yielding equities that may be at risk of cutting their dividend.


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

By Mike Keerma

The major North American stock indices posted strong advances on the week, closing at record highs on Friday, following Thursday’s announcement from U.S. President Donald Trump about forthcoming tax reforms, which may give a boost to corporate earnings. Subsequent gains in the financial sector gave a boost to the main indices, which closed the week at record highs. The S&P 500 Composite Index advanced 0.8% on the week, while the Nasdaq Composite Index gained 1.2%, as markets maintained the momentum spurred by better-than-expected quarterly earnings reports. Toronto’s S&P/TSX Composite Index also closed at a record high, against a backdrop of firm crude oil prices and a strong jobs report from Statistics Canada, showing 48,000 additional positions created in January.


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By Fund Library News Wire | Thursday, February 09, 2017

By Mike Keerma

* New Vanguard ETFs listed on TSX.
* Excel to merge funds.
* Hamilton Capital launches dividend ETF.
* BlackRock moves five ETFs to NEO Exchange.


* New Vanguard ETFs listed on TSX. Vanguard Investments Canada Inc. added to its roster of nine fixed-income exchange-traded funds (ETFs), with four new Canadian funds listed on the TSX this week. The new funds bring to 33 the number of ETFs offered by Vanguard Canada.


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By Fund Library News Wire | Sunday, February 05, 2017

By Mike Keerma

The major North American stock indices ended the week relatively flat, while gaining overall in January and advancing for the year to to date. Both the S&P 500 Composite Index and the Nasdaq Composite Index gained just 0.1% on the week, as a relatively strong U.S. jobs report showed a gain of 227,000 payrolls in January helped the U.S. indices stay in the black. Toronto’s benchmark S&P/TSX Composite advanced 0.5% during Friday’s session, buoyed by strength in the financial sector, but the index still lost -0.6% from the previous Friday’s close. Gold gained 2.5% on the week, while the price of crude oil hovered just above breakeven.


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

By Mike Keerma

* Manulife plans multifactor ETFs.
* AGF debuts seven QuantShares ETFs under new platform.
* Dynamic Funds and BlackRock launch active-management ETFs.
* Fidelity launches “best of breed” fund managed by stock picker Will Danoff.
* Mawer introduces Emerging Markets fund.


* Manulife plans multifactor ETFs. Manulife Investments plans to launch a series of multifactor exchange traded funds (ETFs) in partnership with Dimensional Fund Advisors Canada ULC (DFAC) as sub-advisor. Scheduled for launch in April, the ETFs aim to track indexes designed by Dimensional that are based on the research of Nobel Laureate Eugene Fama and renowned researcher Kenneth French, both of whom serve on Dimensional’s board of directors.


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By Fund Library News Wire | Friday, January 27, 2017

By Mike Keerma

* Weekly wrap: Stocks preserve upward momentum.
* The 2016 FundGrade A+ best-of-the-best funds announced.

* Weekly wrap: Stocks preserve upward momentum. While the major North American stock indices faded marginally in Friday’s session owing to a weaker-than-expected 1.9% fourth-quarter reading on U.S. GDP growth, stock markets still managed to post gains on the week overall, maintaining the upside momentum that began after the election of President Donald Trump last November. Declining crude oil prices depressed the shares of some Canadian energy majors and contributed to a near-flat weekly performance for Toronto’s resource and financials-weighted S&P/TSX Composite Index. The more ebullient U.S. markets saw the Dow Jones Industrial Average crack the 20,000 level for the first time ever last week, and generally positive investor sentiment as the fourth-quarter earnings season gets underway helped boost the S&P 500 Composite to a 1% gain on the week. Meanwhile, the sprightly tech sector helped pull the Nasdaq Composite Index to a 1.9% advance on the week.


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By Fund Library News Wire | Thursday, January 26, 2017



Fundata Canada Inc. announced the winners of the Fundata FundGrade A+ Award for 2016. This year, 57 companies representing a total of 263 Canadian investment funds received the A+ Award at Fundata’s annual “Evening of Excellence” held on Wednesday, January 25, 2017, at the Art Gallery of Ontario in Toronto.


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By Fund Library News Wire | Friday, January 20, 2017

By Mike Keerma

*
Stocks mostly flat on the week.
* Horizons launches currency fund.
* IA Clarington debuts RI bond fund.

North American stock indices closed generally higher on Friday, following the inauguration of Donald Trump as the 45th U.S. president. However, U.S. markets eased back on the week overall, closing just slightly below breakeven, as investors digested an increase in December’s all-items consumer price index to an annual 2.1% rate, raising concerns about the possibility of rising rates and a stronger dollar, against a backdrop of the potential for protectionist trade policies reiterated by President Trump during his inaugural address. The S&P 500 Composite Index closed Friday with a marginal weekly loss of -0.2%, while the Nasdaq Composite Index lost -0.3% on the week. Toronto’s benchmark S&P/TSX Composite Index advanced 0.3% on the week, buoyed by the rising price of both crude oil and gold.


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By Fund Library News Wire | Friday, January 13, 2017

By Mike Keerma

*
U.S. banks shine, but stocks remain flat on the week.
* Precious metals, resources dominate fund performance in 2016.

*
U.S. banks shine, but stocks remain flat on week. Strong quarterly U.S. bank earnings helped the major North American stock indices rally on Friday ahead of a U.S. long weekend. Strong earnings reports from U.S. financial majors like J.P. Morgan Chase & Co. (NYSE: JPM) and Bank of America Corp. (NYSE: BAC) raised hopes for strong fourth-quarter earnings overall, and fed into gains in Canada’s financial sector as well. However, crude oil prices fell 2% on the week, on the absence of any evidence that Opec’s widely reported production cut agreement has taken effect. As a result, Toronto’s benchmark S&P/TSX Composite Index remained flat on the week, as did the U.S. blue-chip S&P 500 Composite Index. The Nasdaq Composite Index advanced 1% on the week on continuing strength in technology stocks, closing at a fresh record. In addition, gold rallied 2% on the week over growing anxiety over China’s economic health.


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By Fund Library News Wire | Monday, January 09, 2017

  

By Mark Raes, Head of Product, BMO Asset Management Inc.

Fixed-income exchange traded funds (ETFs) are one of the most popular and fastest growing segments of the ETF market. They appeal to investors by trading like equities while providing exposure to a diversified basket of bonds. Investors recognize that ETFs are easy to use, offer additional liquidity, and help to minimize trading costs.


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By Fund Library News Wire | Friday, January 06, 2017

By Mike Keerma

* Stocks post strong gains in early New Year’s rally.
* Horizons ETFs to shut down advisor-class units.

* Stocks post strong gains in early New Year’s rally. Spurred on by hopes for greater U.S. economic stimulus in the early days of the new Trump Administration, and a positive U.S. job creation report for December, the benchmark North American stock indices closed the week with respectable gains, propelled by the financial and technology sectors. Both the blue-chip S&P 500 Composite Index and the Nasdaq Composite Index logged their first record highs for the year during Friday’s session, as the S&P 500 gained 1.7% on the shortened trading week, while the Nasdaq advanced 2.6%. The venerable Dow Jones Industrial Average came within a hair’s-breadth of reaching an all-time record-high 20,000 level in Friday’s session, but failed to breach that threshold and eased back to end the day at 19,963.80. Toronto’s benchmark S&P/TSX Composite Index started the New Year off with a robust 1.4% gain for the week.


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By Fund Library News Wire | Friday, December 30, 2016

By Mike Keerma

North America stock markets finished 2016 in the black, posting solid gains for the year overall. Toronto’s benchmark S&P/TSX Composite Index logged the strongest gains (in domestic currency terms), rising 17.5% on the year, supported by the recovering price of crude oil, which surged 45% for the year. The U.S. blue-chip S&P 500 Composite Index gained steadily through the year as the U.S. economy continued to expand steadily and both business and consumer confidence improved. The election of Donald Trump as president was seen by markets as a net positive for U.S. business growth and contributed to a fourth-quarter stock market rally, which also saw the U.S. Federal Reserve Board raise its key rate by 25 basis points for the first time since December 2015. The Nasdaq Composite Index advanced 7.5% for the year on generally positive gains in the technology sector. Though the price of gold plunged in the second half as traders migrated back to equity markets, gold still managed to gain 8.6% for the year.


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By Fund Library News Wire | Tuesday, December 27, 2016



By Mark Taucar, Accilent Capital Management

Prevailing strategies used to market financial products to clients rely on subjectivity to forecast outcomes, creating complex and compelling-sounding opportunities that have most clients buy into the traditional “tire-kicking” analysis. As clients, we tend to buy into these very nuanced stories, and we attribute great insight to those who convey their insight in such a manner.


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