Leah Golob Desjardins buys Montreal boutique firm Hexavest Toronto-based Marquest Asset Management Inc. is acquiring all outstanding shares of Scotia Management Cos. Administration Inc. (SMCA) from Scotia Capital Inc., a wholly-owned subsidiary of Bank of Nova Scotia, the firms announced in a joint statement. SMCA manages and provides an array of investment products to retail investors and had net assets under management of more than $678 million as of June 1. After the transaction closes, SMCA will remain a separate entity. The firms predict the transaction will not affect the day-to-day affairs of the funds that SMCA manages as a dedicated management group will continue to operate SMCA following the closing. Unitholders are not required to take any action. This transaction is subject to customary regulatory approvals and is not material to Scotiabank. Photo copyright: macgyverhh/123RF Facebook LinkedIn Twitter Share this article and your comments with peers on social media Cidel Asset Management to acquire fixed income manager Related news Keywords Mergers and acquisitionsCompanies Bank of Nova Scotia, Marquest Asset Management Inc. CI acquires US$5.1B San Diego-based RIA
Related news Millennials have a tendency to be cautious investors, probably because of a behavioural bias they have toward money, according to a new report published by Toronto-based BMO Wealth Management. Leah Golob More than half of U.S. millennials actively contribute to retirement accounts: survey Which campaign promises will make it into the federal budget? Share this article and your comments with peers on social media The report, entitled Make better investment choices by understanding and reducing bias, reveals that millennials are more likely to put money aside and decide what to do with it later (31%) than their elder counterparts, Generation X (22%) and baby boomers (22%). Furthermore, millennials are much less inclined to buy and hold investments for the long term (32%) in contrast to Gen X (43%) and baby boomers (44%). The bias toward conservative investing among millennials may have been influenced by the global financial crisis of 2007-08, which occurred when many millennials were just beginning to assume financial responsibility. Notably, millennials have adopted a strong preference for saving, similar to their grandparents or great-grandparents, who lived through the Great Depression. Baby boomers, on the other hand, demonstrate more confidence in their investments over the long run, the report says. They’ve historically had strong average returns, which has helped them to withstand the ups and downs of the market. The report concludes that investment results are often not related to how funds perform, but rather an investor’s behaviour. “The financial professional can play the role of behavioural coach with clients to remove biases from investment decision making,” says Chris Buttigieg, director of the wealth institute at BMO Wealth Management. “This will go far in enhancing the performance of their portfolios. “Furthermore,” he adds, “a financial professional can be a source of information or education and guidance that will help improve the financial literacy levels of their clientele to address specific areas of concern.” The report also examined the investment goals of each generation. It revealed that more than half of those surveyed cited retirement as their top goal. While millennials agreed that saving for retirement is important, they were half as likely to prioritize retirement savings (32%) than baby boomers (63%) and Gen X (62%). Other top priorities for millennials include saving for vacation (29%) or a home upgrade or purchase (27%). Photo copyright: pressmaster/123RF Keywords Millennials The struggle really is real for young investors Facebook LinkedIn Twitter
Tweet Sharing is caring! LocalNews Domestic Violence Awareness Month by: – October 12, 2016 Share Share 130 Views no discussions Share (Canefield, Dominica) October is Domestic Violence Awareness Month and the Arts for Violence Prevention program of the Cultural Division of the Government of Dominica and Bureau of Gender Affairs continues to raise awareness of Dominican youth about the issue of relationship violence/abuse. This year’s activities, designed to be interactive, uses the arts including storytelling and poetry as catalysts for discussion on related themes.Launching the month’s activities, a school assembly was held at the Isaiah Thomas Secondary School on October 3rd featuring speeches by Ms. Kyra Paul director of the Bureau of Gender Affairs, readings of Ras Mo’s poetry related to domestic violence and the role of sexism and gender socialization by students and a performance by Ras Mo.On October 10th another activity targeting boys was held at St Mary’s Primary. With continued focus on prevention education, the presentations to 6th grade classes were facilitated by staff of the, Delmance Ras Mo Moses, Mrs. Melissa Morgan, Miss Nandia Lewis, Miss Arlene Gregoire, Kimani Lapps, and Mrs. Josephine Dublin-Prince.The management staff and of the Saint Mary’s Primary responded positive while students participated enthusiastically with a wide range of questions and contribution to the discussion.The next Domestic Violence Prevention presentation will be at the Castle Bruce Secondary School on October 23rd.
Head coach Lee Johnson made seven additions to the first-team squad in the summer and Tomlin feels everyone will step up another gear once they become more familiar with each other. Tomlin, 27, has completed both of Bristol City’s games to date, as they kicked off the Sky Bet Championship season with a 2-1 win over Wigan Athletic, and then overcame Wycombe Wanderers by a solitary goal in the EFL Cup on Tuesday. “It’s the best way to start a season with two wins out of two,” he told Bristol City Player HD. “It’s still early in the season and we’re getting grips with everyone and how people play. “It’s going to take time for us to reach 100% in our performances and we can still get so much better. “It’s going to take a few more weeks but at the minute we’re winning games and that’s the important thing.” City travel to Burton Albion tomorrow and face the Brewers for the first time in their history. Manager Nigel Clough proved significant in the Staffordshire club’s rise from non-league to the Championship in two separate stints in charge, and Tomlin is expecting dogged opponents at the Pirelli Stadium. “They’re going to be tough and so organised, especially with their gaffer,” he said. “Every team he has is organised and they play really well. “It’s going to be a tough game but hopefully we can overcome them because we have some very difficult matches coming up after that.” Tomorrow’s fixture is an all-ticket affair. Supporters have until 2pm to secure a seat by calling 0117 963 0600.