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8/17/2017 1:19:15 PM
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Current news, updates, and market information.


By Fund Library News Wire | Friday, August 11, 2017

By Mike Keerma

The major North American stock indices retreated through the week, as tensions escalated between North Korea and the U.S. The CBOE Volatility Index (VIX), often referred to as the “fear gauge,” climbed to 15.51, its highest level since last November. Soft U.S. inflation in July combined with geopolitical fears to produce a -1.4% loss for the S&P 500 Composite Index on the week, while the Nasdaq Composite Index fell -1.5%. Toronto’s benchmark S&P/TSX Composite Index fell 2% as energy stocks retreated on a -1.5% decline in the price of crude oil on the week. Living up to its safe-haven status, gold gained 2.4% on the week, boosting the gold mining sector. The Canadian dollar also lost ground, closing the week at US$0.7807 as investors sought shelter in traditional strong currencies like the U.S. dollar, Swiss franc, and Japanese yen.


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By Fund Library News Wire | Friday, August 11, 2017

By Mike Keerma

* CI acquires Sentry.
* BMO ETF index and name changes.
* Brompton shutters precious metals fund.

* CI acquires Sentry. CI Financial Corp. and Sentry Investments Corp. announced on Aug. 10 that CI will acquire Sentry in a deal valued at $780 million. The takeover will combine two of Canada’s largest independent active asset managers.


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By Fund Library News Wire | Thursday, August 10, 2017

  

By Jay Bhutani, Senior Vice-President, AGF Investments Inc.

Factor investing is one of the most innovative approaches to earning strong, risk-adjusted returns over the long term while reducing volatility and drawdowns. But like all great innovations, factor investing continues to undergo refinements and enhancements to help investors of all kinds maximize the potential to reach their financial goals.


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By Fund Library News Wire | Friday, August 04, 2017

By Mike Keerma

A strong U.S. jobs report on Friday helped rally U.S. stock indices towards the end of a week that was dominated by choppy trading. However, while the Dow Jones Industrial Average closed at a record high 22,092.81 on Friday, the broader blue-chip benchmark S&P 500 Composite Index eked out an advance of just 0.2% on the week, while the Nasdaq Composite Index closed with a hairline retreat of -0.4% from last Friday’s close. Toronto’s benchmark S&P/TSX Composite Index gained 0.9% on the week, driven mainly by climbing energy shares and the halo effect of sizable U.S. creation. Gold slipped -0.3% and WTI crude oil edged down -0.6% on the week, having negligible effect on S&P/TSX performance last week.


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By Fund Library News Wire | Thursday, August 03, 2017



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

Whole Foods (NASDAQ: WFM) is the second announced takeout of a top five Pender Value Fund holding last quarter (following the Panera deal – see our previous post). WFM is also a holding in the Pender US All Cap Equity and the Pender Strategic Growth & Income Funds. But unlike PNRA, we are pleased about this announcement.


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

By Mike Keerma

The major U.S. and Canadian stock indices remained about flat on the week, despite surging Canadian GDP growth in May, a strong second-quarter reading on U.S. economic growth, and a stand-pat interest rate announcement by the U.S. Federal Reserve. Toronto’s benchmark S&P/TSX Composite Index edged down -0.4% on the week, even though both gold and crude oil made gains, with crude oil advancing 9% from last week’s close. New York’s blue-chip benchmark S&P 500 Composite Index remained flat on the week, while the Nasdaq Composite Index edged down a minuscule -0.2%.


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

By Mike Keerma

* Invesco changes fund name.
* RBC re-opens PH&N bond fund.
* Invesco fund mergers approved.
* Sun Life fund mergers.
* Evolve files for nine new ETFs.

* Invesco changes fund name. Invesco Canada announced that it will change the name of Invesco Intactive Strategic Yield Portfolio to Invesco Strategic Yield Fund. In a release the company said that the fund’s name is being changed to highlight the fund’s focus on yield.


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

By Mike Keerma

* U.S. stock markets back off record highs.
* BMO shutters income fund.

* Franklin Templeton launches new Canada fund.

* U.S. stock markets back off record highs. A subdued outlook and declining quarterly earnings from General Electric Co. (NYSE: GE) put the brakes on a week-long rally in U.S. stock markets, as the big indices retreated a notch or two in Friday’s session. Still, the S&P 500 Composite Index hit a record high last week and posted a 0.5% gain on the week overall. The Nasdaq Composite Index also posted a record high on Thursday, but retreated on Friday, advancing 1.2% for the week. Toronto’s benchmark S&P/TSX Composite Index also pulled back on Friday as crude oil prices retreated -2.6% on the week, and as Canada’s June inflation rate continued below the Bank of Canada’s target. However, the index was about flat for the week, as energy issues weighed on performance, while stronger retail sales in May helped cushion a futher decline. The retail sales data also gave the Canadian dollar a boost, which closed at US$0.7976 on Friday.


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By Fund Library News Wire | Friday, July 14, 2017

By Mike Keerma

The major U.S. and Canadian stock indices posted strong weekly gains, despite softer U.S. inflation and retail sales reports. Both gold and crude oil also rose on the week, as the U.S. dollar faded on soft inflation and retail sales data. Toronto’s benchmark S&P/TSX Composite Index advanced 1.0% on the week, fueled by a 5.1% weekly gain in the price of crude oil, a 1.3% rise in the price of gold. The Canadian dollar continued to climb against the U.S. dollar, closing the week at US$0.7905, as the Bank of Canada hiked its policy rate to 0.75%. The blue-chip U.S. benchmark S&P 500 Composite Index climbed 1.4% on the week, closing at a record high on Friday, while the Nasdaq Composite Index closed just shy of its record, gaining 2.6% on the week.


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By Fund Library News Wire | Friday, July 14, 2017

By Mike Keerma

The major U.S. and Canadian stock indices posted strong weekly gains, despite softer U.S. inflation and retail sales reports. Both gold and crude oil also rose on the week, as the U.S. dollar faded on soft inflation and retail sales data. Toronto’s benchmark S&P/TSX Composite Index advanced 1.0% on the week, fueled by a 5.1% weekly gain in the price of crude oil, a 1.3% rise in the price of gold. The Canadian dollar continued to climb against the U.S. dollar, closing the week at US$0.7905, as the Bank of Canada hiked its policy rate to 0.75%. The blue-chip U.S. benchmark S&P 500 Composite Index climbed 1.4% on the week, closing at a record high on Friday, while the Nasdaq Composite Index closed just shy of its record, gaining 2.6% on the week.


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

  

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

Investors are always looking for the right sector at the right time to get the maximum possible return with the lowest inherent risk. Finding that perfect investment looks easy in hindsight; however, a properly constructed portfolio that includes sector rotation strategies balancing risk and reward is well positioned to handle developing scenarios. Exchange-traded funds (ETFs) have traditionally been an efficient way to enact these asset allocation strategies, providing wide exposure across a single sector with a single trade.


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

  

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

Investors are always looking for the right sector at the right time to get the maximum possible return with the lowest inherent risk. Finding that perfect investment looks easy in hindsight; however, a properly constructed portfolio that includes sector rotation strategies balancing risk and reward is well positioned to handle developing scenarios. Exchange-traded funds (ETFs) have traditionally been an efficient way to enact these asset allocation strategies, providing wide exposure across a single sector with a single trade.


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

By Mike Keerma

Both the S&P 500 Composite Index and the Nasdaq Composite Index edged up this week as a positive U.S. jobs report for June buoyed investor sentiment helped along by a growing consensus that the Fed will hold off on another rate hike until December. Technology stocks rebounded after a losing streak and helped the big indices climb back from losses earlier in the week.

Toronto’s benchmark S&P/TSX Composite Index, however, slipped -1% on the week, despite similarly strong Canadian job creation in June, as traders continued to price in a 25-basis-point rate hike by the Bank of Canada next week. June’s strong job numbers helped boost the Canadian dollar to US$0.776 by Friday’s close.

Sliding energy stocks also weighed on TSX peformance as the price of crude oil fell -4.0% on the week, against a backdrop of growing supply and the global market’s general indifference to and skepticism of the much-ballyhooed production cuts by the Organization for the Petroleum Exporting Countries. And despite rising geopolitical tensions in Asia as a consequence of North Korea’s intercontinental ballistic missile test, gold fell -2.4% on the week.


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By Fund Library News Wire | Thursday, July 06, 2017



The S&P 500 Index reached new record highs in the weeks following the 2016 U.S. elections, and the Dow Jones Industrial Average finished above 20,000 for the first time ever on January 25, 2017. In a marked reversal of fortunes, U.S. value stocks outperformed their growth counterparts for a substantial part of 2016, and looked set to continue the trend into 2017.


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By Fund Library News Wire | Thursday, July 06, 2017



The S&P 500 Index reached new record highs in the weeks following the 2016 U.S. elections, and the Dow Jones Industrial Average finished above 20,000 for the first time ever on January 25, 2017. In a marked reversal of fortunes, U.S. value stocks outperformed their growth counterparts for a substantial part of 2016, and looked set to continue the trend into 2017.


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By Fund Library News Wire | Friday, June 30, 2017

By Mike Keerma

Stock markets in Canada and the U.S. posted a losing week, to cap off a month of lacklustre performance. Toronto’s S&P/TSX Composite Index ground down nearly -1% on the week, led by losses in the financial and energy sectors. The broad Canadian benchmark posted a monthly retreat of -1.1% in June overall, its second straight monthly decline, and is now down -2.4% for the year to date. U.S. benchmark indices didn’t do much better, as the S&P 500 Composite Index declined -0.6% on the week, for a marginal gain of 0.5% on the month. Meanwhile, the Nasdaq Composite Index lost -2.0% on the week as technology shares retreated, putting the index -1.0% underwater for the month. Still, the Nasdaq is ahead 14% year to date, while the S&P 500 is up 8%. Crude oil gained 7.3% on the week, but continues to hover below US$50 per barrel, posting a near -5% loss in June, with a -14% decline year to date. Gold slipped -1% on the week for a -2.1% loss in June, but remained ahead 7.8% year to date.


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By Fund Library News Wire | Thursday, June 29, 2017



Regulators around the world are looking at measures to ensure that investors understand the costs of investing and are receiving value for their money. As different approaches are tested, it is becoming clear that a one-size-fits-all approach to fee regulation can lead to unintended consequences that may disproportionately impact some segments of consumers – in particular, more modest investors and those just starting on the savings path.


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By Fund Library News Wire | Friday, June 23, 2017

By Mike Keerma

* Stocks perk up but stay flat on the week.
* Canada’s inflation rate cools in May.
* Buffett snatches up Home Capital from bargain bin.
* Sears Canada now a (below) dollar store.
* Harvest Portfolios debuts global REIT ETF.

* Stocks perk up but stay flat on the week. Stock markets perked up a bit this week, closing with small gains week-over-week, helped along by small gains in the energy sector in Friday’s session as well as continuing momentum among technology stocks. In the absence of any major economic releases and geopolitical imbroglios, stock markets were largely flat on the week. Toronto’s S&P/TSX Composite Indexedged up 0.8% on news of cooling Canadian inflation and a bailout of Home Capital Group (TSX: HCG) by Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK.A), while New York’s S&P 500 Composite Index held steady with a near-invisible 0.2% gain. The Nasdaq Composite Index remained the outlier, with a 1.8% advance on the week, for a 16.4% year-to-date gain, as tech issues sprung back to life last week, ending two weeks of losses for the Nasdaq. Crude oil rose 0.8% on Friday despite traders’ anxieties about a supply glut. With summer trading seasonality starting to kick in, and not all that much for traders to worry about in the market, gold remained virtually flat on the week.


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By Fund Library News Wire | Friday, June 16, 2017

By Mike Keerma

* Grocery selloff dampens markets.
* First Asset to terminate Canadian equity ETF.
* Blackrock expands iShares core dividend ETF lineup.
* Canoe to merge funds.

* Grocery selloff dampens markets. The S&P 500 Composite Index and the Nasdaq Composite Index weakened marginally on the week, as investors sold off shares in the intensely competitive grocery sector on news that online retailer Amazon.com Inc. (NASDAQ: AMZN) will acquire grocery chain Whole Foods Market Inc. (NASDAQ: WFM) in a US$13.7 billion buyout. Gains in the energy sector on Friday helped support markets towards the end of the week. However, an overall weekly loss of -1.1% in crude oil contributed to the -1.8% retreat in Toronto’s benchmark S&P/TSX Composite Index on the week.


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By Fund Library News Wire | Thursday, June 15, 2017



By Kurt Reiman, Director, Chief Investment Strategist for Canada

Canada’s surprisingly strong first-quarter GDP report was the best quarterly print since the second quarter of 2014 and led the G7 countries, but investors shouldn’t assume more of the same from the economy in the months ahead.


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