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2/22/2018 5:40:29 PM
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Current news, updates, and market information.


By Fund Library News Wire | Friday, February 16, 2018

By Mike Keerma

* Weekly wrap: Markets start climbing out of the hole.
* Choice Properties takes over CREIT.
* Horizons launches emerging markets pot play ETF.


* Markets start climbing out of the hole. Stock markets staged a strong rally last week, climbing back somewhat from steep losses suffered the week before, even as headline U.S. inflation rose in January and Treasury yields climbed in anticipation rate hikes by the Fed. Friday’s session saw some anxiety return as 13 Russian nationals were accused of interfering with the U.S. elections. Toronto’s S&P/TSX Composite Index rose 2.8% on the week while the S&P 500 Composite Index surged 4.3% and the Nasdaq Composite Index gained 5.3%. Commodities also gained on the week while crude oil rallied 4.1% on the week and gold posted a 2.5% weekly advance. Meanwhile, the CBOE Volatility Index (VIX) continued to drift lower through the week, ending Friday at about 19, down from a high of 29 on Monday.


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By Fund Library News Wire | Thursday, February 15, 2018

 

By Kevin Gopaul, Head of Quantitative Strategies and ETFs, CIO Canada, Head of BMO Global Asset Management

Exchange Traded Funds have become the foundation of clients’ investment portfolios, and like any new product, while many benefits are understood, there are misconceptions that have entered into client conversations.


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By Fund Library News Wire | Friday, February 09, 2018

By Mike Keerma

North America’s major stock market indices rallied somewhat on Friday, but it wasn’t enough to stanch a week of frenzied selling during the week that brought the gauges to losses near or exceeding 10% from recent highs – the commonly accept loss threshold that marks a correction. Climbing bond yields in anticipation of rising inflation and further central bank tightening precipitated the selloff as the stock indices erased any gains made in the year to date. Toronto’s S&P/TSX Composite Index dropped 3.7% on the week in a broad retreat across all sectors. The major U.S. indices fell even more sharply on the week, as the S&P 500 Composite Index and the Nasdaq Composite Index both fell 5%. Commodities also retreated as gold posted a 1.3% weekly decline, while crude oil plunged 9% on the week. Meanwhile, the CBOE Volatility Index (VIX) – the so-called “fear gauge” – spiked to a high of 46 on Tuesday, but retreated somewhat through the remainder of the week and closed Friday at a still-high, but a less intense, 29.06.


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By Fund Library News Wire | Wednesday, February 07, 2018



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

Last week ended on a bad note. The yield on the 10-year Treasury moved up from 2.695% to 2.852% in just five days,1 spiking on the release of the U.S. employment situation report for the month of January. Not only did yields globally then rise, but this brought on the biggest sell-off in U.S. stocks in nearly two years – which then spread to Europe and Asia, putting downward pressure on equities in those regions. As I write this (Feb. 5), futures suggest an extension of the sell-off.


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By Fund Library News Wire | Monday, February 05, 2018



The FundGrade A+ Award is given annually to investment funds and managers who have shown consistent, outstanding, risk-adjusted performance throughout the year. The A+ Awards for 2017 were presented on Jan. 25, 2018, at Fundata’s annual “Evening of Excellence” to 57 companies representing 274 outstanding Canadian investment funds. Here’s a look at the science behind the FundGrade A+ Award. It all begins with the monthly FundGrade rating.


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By Fund Library News Wire | Friday, February 02, 2018

By Mike Keerma

* Markets sell off as rate-hike fears prevail.
* Evolve launches blockchain ETF.
* Harvest gets on board the blockchain train with new ETF.
* Vanguard debuts three asset allocation ETFs.
* Franklin Templeton lists three new ETFs.
* Invesco’s CAD-hedged global small/mid-cap ETF commences trading.
* RBC launches US$ and currency-neutral mutual funds.

* Markets sell off as rate-hike fears prevail. The major North American stock market indices staged a unified retreat last week, as a positive U.S. jobs report raised fears that the U.S. Federal Reserve, under its new Chairman, Jerome Powell, would start raising short-term interest rates sooner rather than later. The yield on the benchmark 10-year U.S. Treasury notes rose through the week, getting as high as 2.84% on Friday in anticipation of just such a Fed move. The near-dormant CBOE Volatility Index (VIX) sprang to life, climbing to a high of 17.86 on Friday, its highest level in over a year, and signaling a possible return of stock market volatility. The broad selloff last week resulted in a weekly loss of 3.9% for Toronto’s S&P/TSX Composite Index. And New York’s blue-chip S&P 500 Composite Index dropped 3.9% on the week, its steepest weekly drop since late 2016. The tech-weighted Nasdaq Composite Index also lost 3.5% on the week, while the Dow Jones Industrial Average fell below the 26,000 mark in its worst single-session decline since Black Monday, posting a loss of 4.1% on the week. Key commodities weren’t immune either, as gold fell 1.4% on the week and crude oil dropped 1.8%.


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By Fund Library News Wire | Friday, January 26, 2018



Fundata Canada Inc. is pleased to announce the winners of the Fundata FundGrade A+ Award for 2017. Awards were presented to 57 companies representing a total of 274 Canadian investment funds at Fundata’s annual “Evening of Excellence” held on Thursday, January 25, 2018, at The Globe and Mail Centre in Toronto.


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By Fund Library News Wire | Friday, January 26, 2018

By Mike Keerma

* U.S. stock indices close at record highs…again.
* Fundata FundGrade A+ Awards 2017.
* Fidelity launches new bond fund.
* Mackenzie launches 13 new ETFs.

* U.S. stock indices close at record highs…again. The major U.S. stock indices once again closed at record highs this week, as traders, increasingly turning to the risk side of the spectrum, were buoyed by healthy earnings reports in the healthcare and technology sectors and by 2.6% annual growth in U.S. gross domestic product. The S&P 500 Composite Index closed Friday on the high note, closing with a 2.2% gain on the week, while the Nasdaq Composite Index advanced 2.3%. Toronto’s S&P/TSX Composite Index edged down with a marginal weekly loss of 0.7%, against a backdrop of slightly weaker inflation in December (an annualized 1.9% rate, down from 2.1% in November) and a 1% week-over-week decline in the S&P/TSX Capped Financials Index. Helping cushion weakness in the TSX were a gain of 1.7% in the price of gold and a weekly advance of 4.2% in the price of crude oil.


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By Fund Library News Wire | Friday, January 19, 2018

By Mike Keerma

The big North American stock indices racked up gains on the week again, despite an interest rate hike by the Bank of Canada and uncertainty over a U.S. federal government funding bill stalled in the Senate going into the weekend. Bullish sentiment remained strong in the U.S. markets, as 79% of companies reporting quarterly earnings exceeded street estimates. Even a 14.5% weekly plunge in beleaguered Dow Jones Industrial bellwether General Electric Co. (NYSE: GE) wasn’t enough to derail the market momentum train. The buoyant financial and industrial sectors led Toronto’s benchmark S&P/TSX Composite Index to a 0.3% weekly gain, even as weekly losses in both crude oil and gold dampened performance. The big U.S. blue-chip S&P 500 Composite Index closed the week with an advance of 0.9%, while the tech-weighted Nasdaq Composite Index gained 1.0%, as both gauges ended the week at new record high closes.


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By Fund Library News Wire | Monday, January 15, 2018

A SPECIAL REPORT FROM



By Sayem Hossain, Analyst, Analytics & Data, Fundata Canada Inc.

Cryptocurrencies have been much in the news recently. In fact, it’s been hard to avoid headlines recently about “Bitcoin” or “Ethereum.” And stories about how you’d now be a millionaire “if only you had purchased US$100 in Bitcoins six years ago” are fascinating to be sure, even if there’s more than just a whiff of 20/20 hindsight to them. But with cryptocurrencies still very much in the news, is there a way for the average investor to get into these things? An even more important question: Should you?


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By Fund Library News Wire | Friday, January 12, 2018

By Mike Keerma

The major U.S. stock market gauges logged another week of gains, as investor sentiment was buoyed by gains in the financial sector and expectations of strong earnings growth for the fourth-quarter earnings season, and by growing optimism about the state of the U.S. economy following the passage of a major tax reform bill. Markets ignored an uptick in core U.S. inflation in December, and continued their record-setting ways, closing at fresh record highs on Friday. The tech-weighted Nasdaq Composite Index advanced 1.7% on the week, despite an announcement from Facebook Inc. (NASDAQ: FB) that it will favor personal over business and media newsfeeds, a move that could hit its bottom line. Fuelled by generally ebullient investor sentiment, the S&P 500 Composite Index gained 0.7% on the week. But Toronto’s S&P/TSX Composite Index lagged, closing down 0.3% on the week, despite weekly gains in both crude oil and gold.


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By Fund Library News Wire | Thursday, January 11, 2018



By Aubrey Basdeo, Managing Director, Head of Canadian Fixed Income, BlackRock

What does a flattening yield curve mean these days? Perhaps not what it used to. No doubt, the slope of yield curve, as measured by the spread between two- and 10-year government bonds, has been flattening since 2014 in both Canada and the United States, and the trend has recently intensified: During the month of November, the spread between Canada 10-years and two-years fell by 10 basis points, while the Treasury curve tightened by nearly 20 bps. As we headed into December, the curve sat at its flattest level since the Great Recession.


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By Fund Library News Wire | Friday, January 05, 2018

By Mike Keerma

Stock markets kept popping the champagne corks during the first week of the new year as the big U.S. indices posted four straight days of gains, setting fresh closing record highs, and extending the bull market into 2018. Market sentiment was buoyed by the passage of a major U.S. tax reform bill with major corporate tax cuts, a healthy December labor report indicating 148,000 new jobs, solid corporate earnings, and rising commodity prices. The broad U.S. blue-chip S&P 500 Composite Index gained 2.6% on the week, while the tech-weighted Nasdaq Composite Index advanced 3.4%. Toronto’s benchmark S&P/TSX Composite Index rose 0.9% on the week, setting a record intra-day high on Thursday before tracking back late in the week. Crude oil rallied 1.9% on the week despite a late-week selloff that weighed on TSX daily performance on Friday, while gold rose 0.9%.



2017 Year-End Market Summary


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By Fund Library News Wire | Friday, December 29, 2017



By Todd Schlanger, Senior Investment Strategist, Investment Strategy Group, Vanguard Group, Inc.

Key highlights of Vanguard’s Risk Speedometers

* Our risk speedometers show investors’ willingness to take on risk edged slightly higher over the past month as stock prices continue to rise.
* Investment risk continues to be well balanced overall, which is an encouraging sign amid Canadian and global equity market outperformance.
* The trend toward global diversification continued as flows went into global categories and out of Canadian categories.


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By Fund Library News Wire | Thursday, December 21, 2017



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

At Pender, we are often asked about our cash levels, because it fluctuates over time depending on the individual Fund mandate and the opportunity set. One of the common misconceptions regarding some Pender mandates is that most outsiders think we have generated good risk-adjusted returns despite holding cash. However, we are of the view that good risk-adjusted returns have been achieved because of the opportunistic deployment of cash over the cycle. Without that cash, it would be impossible to deploy capital when individual stocks drop and “fat pitches” suddenly become available, or when the market enters one of its recurring corrections and great opportunities become more widespread.


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By Fund Library News Wire | Tuesday, December 19, 2017

  

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

In 1992, Major League Baseball’s Oakland A’s pioneered the combination of traditional scouting practices with statistical analysis of players. Like baseball, investing contains a wealth of data and metrics which can be analyzed to inform decisions.


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By Fund Library News Wire | Friday, December 08, 2017

By Mike Keerma

* Arrow debuts actively-managed bond ETF .
* First Asset closes covered call ETF.
* iA Financial launches a barrage of new funds and portfolios.
* Mackenzie’s new RI ETF begins trading.
* Desjardins launches adds to controlled volatility ETF lineup.
* Invesco switches exchanges for PGL.
* Mutual fund assets balloon to $1.47 trillion in October.

* Arrow debuts actively-managed bond ETF . Toronto-based portfolio manager Arrow Capital Management Inc. launched its first actively managed exchange-traded fund, the Exemplar Investment Grade Fund (TSX: CORP), which aims to remove interest rate exposure of corporate bonds, thereby protecting investors from capital losses due to rising rates. The fund, sub-advised by East Coast Fund Management Inc., uses a credit strategy aiming for attractive risk-adjusted returns with low volatility and capital preservation.


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By Fund Library News Wire | Friday, December 08, 2017

By Mike Keerma

The main North American stock market gauges turned higher on the week following the release of robust U.S. job-creation data. Markets also cheered progress between the U.K and the European Commission on Brexit talks. The broad U.S. blue-chip S&P 500 Composite Index advanced 0.4% on the week, closing at a record high on Friday, while the Nasdaq Composite Index ended the week flat. The Dow Jones Industrial Average also closed Friday at a record high of 24,329.16. Canada’s benchmark S&P/TSX Composite Index gained 0.4% on the week. Gold slid 2.6% on the week, while crude oil dropped 1.7% on rising U.S. production and increasing gasoline inventory.


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By Fund Library News Wire | Friday, December 01, 2017

By Mike Keerma

* Stock indices edge down on Washington volatility contagion.
* Bank profits soar.
* Manulife re-opens flagship fund.
* Manulife launches two multi-factor ETFs
* Horizons debuts robotics ETF.

* Stock indices edge down on Washington volatility contagion. The major North American stock indices turned in mixed results last week, as turmoil in Washington, DC on Friday infected markets on Friday and resulted in selloffs and losses on the day for all the main market gauges. The blue-chip S&P 500 Composite Index was the only benchmark to advance on the week, gaining 1.5%. Toronto’s S&P/TSX Composite Index drifted down 0.4% through the week, as strong bank earnings and a positive jobs report failed to overcome slipping crude oil, which lost 1.1% on the week. The Nasdaq Composite Index also fell 0.6% on the week.


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By Fund Library News Wire | Tuesday, November 28, 2017



By Joe Davis, Global Head, Investment Strategy Group, Vanguard Group, Inc.

As interest rates in Canada trend upward, monetary policy in the United States is likewise returning to normal after a decade of extraordinary measures to stimulate economic growth. As Vanguard forecast last year, the United States Federal Reserve is entering on “Phase Two” of its path to policy normalization: the reduction of its balance sheet of about $5.7 trillion in securities (mostly U.S. government bonds) acquired as part of the Fed’s economic stimulus efforts during and after the global financial crisis. ( Figures cited are in Canadian dollars, at October 2017 exchange rates. )


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