Investment companies
The BISYS Group, Inc. (Nasdaq: BSYS) announced that its Fund Services Division has been retained as administrator of the Parkstone Mutual Funds in a multi-year contract with the Fund group. First of America Investment Corporation, which manages the Parkstone Mutual Funds, has also renewed its distribution agreement with BISYS. As
Mutual funds
The directors of the Blue Chip Value Fund Inc. have declared a distribution of 66 cents per share, bringing the total year-to-date distribution to 10 percent of the fund's average net asset value. This will be the second distribution of the year, following a 9 cents payment. The
Mutual funds
The BlackRock New Jersey Investment Quality Municipal Trust Inc. (RNJ) has announced a monthly dividend of $0.0641 per share, or 5.13% on an annualized basis, based on the initial offering price of $15 per share. As of November 30, 1994, the trust's portfolio consisted of 46%
Mutual funds
With thousands of Canadian mutual funds to choose from, even the most sophisticated investors can struggle to separate the wizards from the wannabes. The lack of unbiased information and timely data has left many investors in the dark, with Frank Mersch, vice-president of equities at Altamira Investment Services Inc., highlighting
Mutual funds
Europe's stagnant economy has long been a concern, with the continent struggling to recover from a recent recession. However, investors are now being lured by the prospect of a rebound, with some experts predicting a remarkable turnaround in the coming years. The Universal European Opportunities Fund, a new
Financial markets
Representative Edward J. Markey, chairman of the House subcommittee on telecommunications and finance, has asked the Securities and Exchange Commission to conduct a comprehensive study on the use of derivatives by mutual funds. The request comes after sharp price drops for several low-risk mutual funds, which have been found to
Financial markets
The recent spate of financial turbulence has left a lasting impact on markets, with bonds and equities suffering significant losses. However, the gains in precious metals have provided a rare silver lining for sector funds, according to a Report on Business six-month survey. The survey reveals a tumultuous landscape, with
Mutual funds
Fidelity Investments Canada Ltd., a renowned investment management company, offers a diverse range of 14 mutual funds catering to various investment objectives and risk profiles. As of early February, these funds had amassed significant assets, catering to the needs of a broad range of investors. The funds cover a spectrum
Mutual funds
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
Mutual funds
Canada's mutual fund companies are expanding their international offerings, with several recent launches in the Asia and European markets. The industry is encouraging Canadians to explore these markets for growth and diversification opportunities. Canada Trust Co. has added two new funds to its Everest no-load family, the AsiaGrowth
Mutual funds
Lou Voticky, chairman of Admax Regent International Management Ltd., has had to deal with the replacement of two fund managers in the past year. The company's Admax American Performance Fund suffered a significant decline in assets, from $25-million to $11-million, after its manager, Fred Moran, was replaced by
