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Mutual funds

Canadian Economy Faces Challenges Amid Market Volatility

Strategic Insights

— 1 min read

Canada's mutual fund assets have surged to over $129.8-billion, a significant 81 per cent increase from last year. However, new investors are likely to be disappointed in their returns, as warned by Edward Waitzer, the new chair of the Ontario Securities Commission. Market risk and volatility are affecting investor portfolios, while the Canadian government faces criticism over proposed privatization of Newfoundland and Labrador Hydro. Meanwhile, the Ontario government has sold SkyDome stadium to a private consortium for $151-million.

Key Takeaways:

  • Canadian mutual funds have seen a significant surge in assets, reaching over $129.8-billion at the end of February, an 81 per cent increase from last year.
  • Edward Waitzer, Ontario Securities Commission chair, warns new investors of market risk and potential disappointment in returns.
  • The Canadian government is facing opposition over the proposed privatization of Newfoundland and Labrador Hydro, with thousands of Newfoundlanders protesting the move.
  • The Ontario government has sold SkyDome stadium to a private consortium for $151-million.
  • General Motors and striking employees have reached a tentative settlement in Ohio, but the dispute's effects on GM Canada's truck assembly plant in Oshawa, Ont. are still being felt.
  • Altogether 81% is the increase in assets of Canadian mutual funds from the previous year.
  • Mexico has slipped into recession, apparently due to a prolonged fight against inflation.
  • U.S. inflation remained in check in February, with consumer prices rising at an annual rate of 0.3 per cent.

Statistics:

  • Canadian mutual funds' assets: $129.8-billion at the end of February, representing an 81 per cent increase from last year.
  • Compensation package of Michael Phelps for heading Westcoast Energy: $1.2-million in 1993.
  • Revenue of BCE Inc. in the take over of Montreal Trustco Incorporated: $310-million.

Sources:

  • Page C1-10 SUMMARY FINANCIAL SERVICES
  • Page B1 Bank of Nova Scotia
  • Page B9 FREE TRADE
  • Page B1 COMPENSATION
  • Page B1 Michael Phelps' compensation package for heading Westcoast Energy
  • Page B9 Relocation benefits paid to employees who are transferred to another city
  • Page B1 Argentina pegged its currency to the U.S. dollar almost four years ago
  • Page B7 International news Mexico has slipped into recession
  • Page A1 ENTERTAINMENT INDUSTRIES
  • Page A6 U.S. inflation remained in check in February
  • Page B3 AUTOS General Motors and striking employees reached a tentative settlement
  • Page B12 CHEVROLET is hoping to recapture its glory days
  • Page B12 THOMSON CORP

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