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Feb 25, 2013

Canada funds bet emerging markets can lift “funk”

TORONTO (Reuters) – With only tepid growth expected in North America and Western Europe in 2013, Canadian asset managers say the best opportunity for growth comes from emerging markets, where a burgeoning middle class is hungry for consumer goods and improved infrastructure.

Once viewed as higher risk, emerging economies from China to India and Brazil to Mexico are in the spotlight as investors face the prospect of mediocre returns from both stocks and bonds in the developed world in 2013.

Feb 25, 2013

HOW TO PLAY IT:Canada funds bet emerging markets can lift ‘funk’

TORONTO, Feb 26 (Reuters) – With only tepid growth expected
in North America and Western Europe in 2013, Canadian asset
managers say the best opportunity for growth comes from emerging
markets, where a burgeoning middle class is hungry for consumer
goods and improved infrastructure.

Once viewed as higher risk, emerging economies from China to
India and Brazil to Mexico are in the spotlight as investors
face the prospect of mediocre returns from both stocks and bonds
in the developed world in 2013.

Feb 25, 2013

Canada’s housing affordability improves in 4th quarter- RBC

TORONTO, Feb 25 (Reuters) – Small declines in home prices
and mortgage rates made Canadian home ownership slightly more
affordable in the fourth quarter of 2012, the second straight
improvement, and soft home buyer demand may help continue the
trend in 2013, according to a report by RBC Economics released
on Monday.

RBC, Canada’s largest bank and a huge mortgage lender,
measures affordability as the percentage of monthly pre-tax
income for a household needed to cover the typical costs of
owning a home, including mortgage payments, utilities and
property taxes.

Feb 22, 2013

Canada housing agency cuts 2013 forecast, sees firmer 2014

TORONTO, Feb 22 (Reuters) – Canada’s federal housing agency
scaled back its forecast for homebuilding in 2013 on Friday,
saying that a slowdown in economic growth and job gains will
dampen demand for new homes, the latest sign that Canada’s
housing market is cooling rapidly.

The Canada Mortgage and Housing Corp said that while it
expects the housing market slowdown that hit in the second half
of 2012 will continue into 2013, it believes momentum will
return later in 2013 and 2014.

Feb 22, 2013

Canada’s OMERS notches 10 pct investment return in 2012

TORONTO, Feb 22 (Reuters) – Canadian pension fund OMERS said
on Friday it notched a 10 percent return on investments in 2012
as its private equity, property and infrastructure portfolios
made strong gains, offsetting losses on its investment in
Alberta’s oil and gas sector.

OMERS, which manages the pension plan for Ontario’s
public-sector municipal workers and has become a global
dealmaker by virtue of its deep pockets, said its net assets
grew to C$60.8 billion last year from C$55.1 billion at the end
of 2011.

Feb 20, 2013

Canada house prices off 0.3 pct in Jan from Dec-Teranet

TORONTO, Feb 20 (Reuters) – Canadian home prices fell for
the fifth month in a row in January from December and the
year-over-year price gain was the smallest since 2009 as the
housing market continued to cool.

The Teranet-National Bank Composite House Price Index, which
measures price changes for repeat sales of single-family homes,
showed on Wednesday that overall prices fell 0.3 percent in
January from a month earlier.

Feb 10, 2013

Canada wealth managers see shift to equities in 2013

TORONTO, Feb 10 (Reuters) –

Buoyed by rising global stock markets, Canadian asset managers
are increasingly certain that 2013 will be the year that
investors who were burned by the financial crisis make a return
to equity-linked products.

As mutual fund developers try to read investor sentiment in
Canada’s traditionally heavy first-quarter sales period, money
continues to flow into funds marketed with the reassuring
“income” or “yield” tags that are favored by investors who lost
money in the 2008-09 stock market meltdown.

Feb 8, 2013

Women a growing market for Canadian financial advisers

TORONTO, Feb 8 (Reuters) – Canadian financial adviser
Frances Summerhill has always felt a special connection with
female clients, but her focus on serving women is about more
than just rapport: she sees growth opportunities in their
increasing wealth.

“More women are starting businesses than men right now, more
are graduating from university … and there will be a wealth
transfer as women outlive their spouses. So women are going to
be in control of a lot of money,” said Summerhill, a veteran
financial planner at Scotia Capital Inc in Sudbury,
Ontario, 400 km north of Toronto.

Feb 8, 2013

Canada housing starts plunge in January

TORONTO, Feb 8 (Reuters) – Canadian housing starts plunged
in January as both single and multiple starts fell, particularly
in Ontario, Canada Mortgage and Housing Corp said on Friday in a
report that showed the housing market was weakening even faster
than expected.

The seasonally adjusted annualized rate of housing starts
was 160,577 units in January, down from 197,118 in December. The
December figure was revised down from the 197,976 units reported
previously.

Feb 7, 2013

Canada wealth managers see growth in philanthropic advice

TORONTO (Reuters) – Gina McDonnell’s ancestors ran the family’s diverse charitable foundation for two generations before a retiring uncle turned to the Bank of Nova Scotia for help.

For the past 20 years, the bank’s Scotia Trust and Scotia Asset Management units have done everything from managing the assets and sorting through grants to ensuring compliance and providing independent auditors. They even host the meetings – and order the sandwiches – when the family gathers four times a year to discuss its charity.