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Mutual fund giant bullish on Canada

Mutual fund giant bullish on Canada

Fidelity's advice a refreshing change from 'go global'

Ever since the 30% foreign content limit was lifted on pensions and RRSPs, the siren call from Canada's mutual fund industry has been "go global."

But in the two and a half years since the limit was lifted, the Canadian dollar has leapt to multi-decade highs. As a result, those who "went global" from the get-go have suffered currency losses - severe ones in the case of those who "rebalanced" their portfolios from Canada into the United States.


CANADA - Ontario unveils venture capital fund based on Israeli model

After several European states, Ontario is following the Israeli venture capital fund paradigm, Yozma. Yozma has earned worldwide recognition as the creator of the Israeli venture capital industry. Originating from a government program aimed at prompting venture investments in Israel, Yozma I has transformed the domestic landscape of private equity investments. Over a period of three years, the Group established ten drop-down funds, each capitalized with more than $20 million.


Ottawa urged to limit intrusion in foreign investmentOttawa urged to limit intrusion in foreign investment

OTTAWA -- Canada's biggest business lobby group is warning Ottawa to tread lightly as it prepares to toughen up the rules for screening foreign investment in this country.

The Harper government has announced plans to scrutinize foreign acquisitions that might compromise Canada's national interest, including takeovers by state-owned firms that don't operate according to free-market principles but as agents of their governments.

In a new letter to Industry Minister Jim Prentice, however, the Canadian Chamber of Commerce is cautioning Ottawa to interfere as little as possible in foreign investment flowing into Canada.

"Intervention should be limited and should not discriminate against, or impede, market-driven foreign investment," Canadian Chamber of Commerce president Perrin Beatty wrote in a Nov. 15 letter to Mr. Prentice.

 

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