Mutual Funds on Ulitzer

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/16/12 -- A British Columbia Securities Commission panel has sanctioned two men and two companies for illegally raising money from Canadian and U.S. investors. In December 2011, a commission panel found that Daniel Scammell, Casper de Beer (aka Casha de Beer), Verified Transactions Corp. (VTC) and VerifySmart Corp. (formerly known as Verified Capital Corp.) traded in securities without being registered in B.C., and distributed those securities without filing a prospectus. From September 2006 to December 2008, Scammell and VTC raised $641,309 from 49 investors in B.C., Alberta and Washington State. The panel found that these securities were distributed illegally, as the exemptions from B.C. securities laws relied upon by Scammell and VTC did not apply to any of the distributions. Additionally, neither Scammell nor VTC... (more)

National Bank Securities Inc. Announces a Risk Rating Change for the National Bank Dividend Fund and for the Altamira Canadian Equity Growth Fund

MONTREAL, QUEBEC -- (Marketwire) -- 05/16/12 -- (TSX:NA) - National Bank Securities Inc. (NBSI), the manager of the National Bank Securities Mutual Funds, today announced a change to the risk rating associated with investing in the National Bank Dividend Fund and the Altamira Canadian Equity Growth Fund. This change will be reflected in the Simplified Prospectus of the National Bank Securities Mutual Funds which will be filed on or about May 28, 2012. The Investment Funds Institute of Canada established guidelines for determining risk ratings based primarily upon the variability... (more)

Matrix Asset Management Inc. Reports First Quarter Results and Declares Dividend

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/15/12 -- Matrix Asset Management Inc. (the "Company" or "Matrix") (TSX:MTA) reported today its financial and operating results for the first quarter ended March 31, 2012 and announced the next regular quarterly dividend of $0.015 per share would be payable on June 12, 2012 to shareholders of record on May 29, 2012. The Company has a dividend reinvestment plan in place for which details are available on Matrix's website (www.matrixasset.ca). Highlights Revenues compared to the first quarter in the prior year are down, mainly due ... (more)

XBRL US Testifies to Human Resources Subcommittee of the Ways and Means Committee

WASHINGTON, April 19, 2012 /PRNewswire/ -- XBRL US President and CEO Campbell Pryde testified today before the Human Resources Subcommittee of the Ways and Means Committee at a hearing on the use of technology to better target benefits and eliminate waste, fraud and abuse.  The hearing, conducted by Congressman Geoff Davis (R-KY), Chairman of the subcommittee, focused on data standardization efforts designed to increase the use of technology to improve the administration of public benefit programs.  "We applaud Chairman Davis and others in Congress who are working to make govern... (more)

Investing In Hedge Funds

“Hedge funds have made massive mistakes. We are less and less willing to invest with these people because at the point when you need them the most, they’re worth the least.” -George Feiger, chief executive officer of Contango Capital Advisors, wealth management arm of Zions Bancorporation. Feiger manages $3.3 billion at Contango and Western National Trust Co. In 2008, the hedge-fund industry had ~$2 trillion under management. But as Economist’s Buttonwood points out, that year was an annus horribilis for the hedge-funds. “The average performance was a loss of 23%. In cash terms t... (more)