Insight September 2012 Monthly Update

The current issue of Insight examines the “state of the union” of the global mutual funds industry, highlighting similarities and differences betweenCanada and the world’s key fund markets. Our objective is twofold. The first goal is to locate the Canadian funds industry experience in the post-bear market era in the broader international context and glean how other fund jurisdictions have adapted to the “new normal” of persistent equity market volatility and uncertain economic conditions. Our analysis monitors the changing asset mix and the change of guard among industry sales leaders inCanada, theU.S., Asia andEurope. We highlight the progress of the rapidly-expanding exchange-traded fund (ETF) segment. The second objective is to help our subscribers identify areas of potential opportunity for Canadian firms beyond our borders, and, conversely, familiarize our international readers with the opportunities in the Canadian fund marketplace. The asset management business is an increasingly global affair with a number of Canadian managers expanding their international footprint in the past several years. Global mutual fund firms like Fidelity or Franklin Templeton have long been part of the fabric of the Canadian funds industry. In recent years foreign interest in the Canadian market has sharpened as the Canadian economy and financial system navigated the tricky 2008-2009 period largely without major disturbances.