IFIC ponders asking Ottawa to scrap foreign content limit
Article Abstract:
The Investment Funds Institute of Canada (IFIC) is planning to ask the Canadian government to scrap the foreign content restriction on registered savings plans (RRSPs). The group said that eliminating the rule is beter than letting investors to rely on RRSP-eligible global funds, which have higher fees and more complicated than regular global funds. These elible funds invest in money market instruments and forward contracts to skirt the foreign content rule.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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AIC mutual fund company considering going public
Article Abstract:
AIC Ltd chairman and CEO Michael Lee-Chin said the Burlington, Ontario- based mutual fund company is mulling an initial public offering. While no final decision has yet been made, he said proceeds from the IPO will be used to finance acquisitions in the mutual fund industry. AIC has seen its assets grow from C$1 billion in 1996 to over C$13 billion, catapulting it to the top 10 mutual fund companies in Canada.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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