Mackenzie still looking for leader as Carney takes over at IGM



The hunt for a new leader at Mackenzie Financial Corp. continues as former CEO Jeff Carney prepares to take over as the sole leader of parent firm IGM Financial Inc.

Last month, the company announced Mr. Carney would be leaving the asset management side of the business to replace Murray Taylor as chief executive officer of IGM, as well as president and chief executive officer of the advisory firm Investors Group. Mr. Carney has co-led IGM since 2012. read more

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Fund managers fail to match international index returns



The majority of fund managers failed to match the returns of international indexes last year.

Only 21 per cent of international equity managers beat the S&P EPAC LargeMidCap index over the 12-month period ended Dec. 31, 2015, according to the SPIVA Canada Scorecard , a semi-annual report that tracks the performance of actively managed funds against their relevant benchmarks. read more

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Canadian Mutual Fund Performance as of March 31, 2016 – available only to Globe Unlimited subscribers.

Performance returns for all mutual fund asset classes – pdf format.

Excel spreadsheets are , for a fee.

Courtesy: The Globe And Mail

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Hedge fund invasion of U.S. Treasuries puts bond traders at risk



Hedge funds are crowding into U.S. Treasuries, and that has bond traders bracing for more turbulence.

While the Federal Reserve doesn’t break out hedge-fund ownership, a group seen as a proxy increased its holdings to a record $1.27-trillion (U.S.) in the past year, according to a quarterly report released by the central bank this month. That came as foreign central banks and finance ministries, the biggest buy-and-hold owners in recent years, culled their investments for the first time on an annual basis since 2000. read more

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Regulators launch probe into the ‘closet indexers’ of the mutual fund industry



Regulators are taking a closer look at actively managed funds to determine if portfolio managers are fulfilling their duty – or simply hugging an index.

The Ontario Securities Commission wants to know whether funds that are advertised as actively managed are in fact living up to their name, or whether they are exhibiting a close tracking of their benchmark index, such as the S&P 500 or the S&P/TSX composite index. read more

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This hedge fund topped rivals with mix of algorithms and 16th-century theory



The market turbulence leading investors to flee hedge funds around the world is providing a measure of vindication for one asset manager.

First Quadrant LP, which manages $11-billion in foreign- exchange strategies, relies on computer models that crunch data such as interest-rate differentials and equity valuations to identify currencies’ fair value and determine entry and exit points. The $1-billion Absolute Return Currency Fund it runs out of Pasadena, Calif., for John Hancock Investments has returned 9.6 per cent in the past year, topping 13 rivals tracked by Bloomberg. read more

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Investors to be provided mutual fund details earlier



Mutual fund investors will soon be receiving mutual fund details prior to signing on the dotted line.

Beginning May 30, financial advisers and their investment firms will be required to provide investors with a document called “Fund Facts” before the purchase of a mutual fund.

The purchase will not be effective until the document is received by the clients electronically, in-person or by mail. (Investment firms will be responsible for keeping a record of delivery of the document.) read more

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Regulators launch probe into the ‘closet indexers’ of the mutual fund industry



Regulators are taking a closer look at actively managed funds to determine if portfolio managers are fulfilling their duty – or simply hugging an index.

The Ontario Securities Commission wants to know whether funds that are advertised as actively managed are in fact living up to their name, or whether they are exhibiting a close tracking of their benchmark index, such as the S&P 500 or the S&P/TSX composite index. read more

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This hedge fund topped rivals with mix of algorithms and 16th-century theory



The market turbulence leading investors to flee hedge funds around the world is providing a measure of vindication for one asset manager.

First Quadrant LP, which manages $11-billion in foreign- exchange strategies, relies on computer models that crunch data such as interest-rate differentials and equity valuations to identify currencies’ fair value and determine entry and exit points. The $1-billion Absolute Return Currency Fund it runs out of Pasadena, Calif., for John Hancock Investments has returned 9.6 per cent in the past year, topping 13 rivals tracked by Bloomberg. read more

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