Last updated: Jun-26-2017

    
 
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6/27/2017 1:21:38 AM
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Current news, updates, and market information.


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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By Fund Library News Wire | Friday, June 09, 2017

By Mike Keerma

* Market wrap: Tech slide sours sentiment.
* Dynamic Funds backs off some mergers.
* Horizons changes name of marijuana fund.

U.S. stock markets retreated on the week, as the tech sector took a beating, with some of the biggest tech names fell suddenly on Friday, driving down the Nasdaq Composite Index -1.8% in Friday’s session, to book a -1.6% loss on the week. While not as exposed to the tech sector as Nasdaq, the S&P 500 Composite Index nevertheless lost nearly 1% on Friday and closed the week down -0.3%. Toronto’s benchmark S&P/TSX Composite Index, however, overcame weakness in crude oil and posted a 0.2% advance on the week, driven by gains in the financial sector on strong jobs growth in May, surging industrial capacity, and the potential for a rate hike by the U.S. Federal Reserve Board next week.


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By Fund Library News Wire | Thursday, June 08, 2017



By Bill McNabb, Chairman and CEO, Vanguard Group, Inc.

In my 30-plus years at Vanguard, I’ve said it countless times: “Tune out the noise.” And it’s not just me. Everybody from Jack Bogle to Warren Buffett will tell you that to be a successful investor, you have to focus on the long term and not get swept up in short-term market fluctuations. But filtering out the noise doesn’t mean disengaging altogether. In an increasingly complex and interconnected world, it’s vital that investors hear the signal of meaningful information through the static of market chatter.


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By Fund Library News Wire | Tuesday, June 06, 2017

 

By Michael Cooke, Senior Vice President, Head of Exchange Traded Funds, Mackenzie Investments.

It’s a low-yield world these days for ETF bond investors who want portfolios that grow their capital and generate income. Amid expectations for rising U.S. interest rates and higher inflation, ETF investors want more choices for innovative fixed-income solutions. Fortunately, they have choices. Active fixed income ETFs have the ability to deliver value at competitive pricing in today’s environment.


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By Fund Library News Wire | Friday, June 02, 2017

By Mike Keerma

U.S. stock markets closed at record highs on Friday, rallying powerfully from a mid-week dip, as the yield on 10-year U.S. Treasury notes fell about 6 basis points to 2.154%. Stocks climbed in tandem with bonds, overcoming any trepidation about May’s weaker-than-expected U.S. jobs report. The S&P 500 Composite Index gained 1% on the week, while the Nasdaq Composite Index rose 1.5%. In Canada, weakness in the energy sector dampened performance as the S&P/TSX Composite tracked a modest 0.2% higher on the week, held in check by a -4.0% slide in the price of crude oil.


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By Fund Library News Wire | Friday, June 02, 2017

By Mike Keerma

* Brompton files prelim prospectus for new European fund.
* OMERS buys a piece of Purpose.
* iShares cuts fees on three bond ETFs.
* TD shuts down Asia fund.
* Invesco to merge and terminate funds.
* LOGiQ rebrands Front Street and Aston Hill funds.

* Brompton files prelim prospectus for new European fund. Brompton Funds Ltd. filed a preliminary prospectus for the initial public offering its European Dividend Growth Fund. The fund aims to provide exposure to an equal-weight portfolio of large-cap European dividend growth companies. Companies comprising the portfolio must be a constituent of the STOXX Europe 600 Index, have a market capitalization of at least €15 billion, and have a history of or potential for dividend growth.


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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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