BlackRock Canada Launches Suite of Outcome-Oriented Balanced Mutual Funds
debt negotiations boosts bullion, gold miners * Lower commodity prices weigh on resource-rich Canada index By Alastair Sharp TORONTO, Oct 15 (Reuters) – Canada’s main stock index gained on Tuesday, as shares of gold miners jumped after U.S. negotiations to avert a damaging debt default stalled. Bullion had hit a three-month low earlier in the day as investors bet that a deal could be reached. But as negotiations sputtered ahead of a Thursday deadline, a safe-haven rally for gold in turn boosted Canada-listed gold miners. “Many of the leading (gold mining) stocks have been beaten down beyond belief, are trading at very attractive valuations and they offer good dividend yields,” said Elvis Picardo, a strategist at Global Securities in Vancouver. The gold mining sub-index, which has declined sharply in recent months, gained more than 3 percent. Other commodities, including oil, were lower, while the three main U.S. indices also retreated in the face of the political uncertainty. The resource-heavy Toronto Stock Exchange’s S&P/TSX composite index ended up 39.35 points, or 0.31 percent, at 12,931.46. Picardo said the index should be well-placed to gain in the medium-term, assuming a deal is reached that avoids a U.S. default. “Investors are just waiting for this one big uncertainty to be resolved before they jump in with both feet,” he said, pointing to energy and mining stocks as likely winners. Hopes for a deal had risen after U.S. Senate Majority Leader Harry Reid, a Democrat, and his Republican counterpart, Mitch McConnell, ended a day of talks on Monday with Reid saying they had made “tremendous progress.” “I suspect something will happen on the positive side (in U.S.
The Fund may also invest directly in securities. The Fund may also invest directly in securities. For a complete overview of the BlackRock Strategic Portfolio Series please visit: blackrockinvestments.ca 1. Source: “Versatility Fuels ETF Growth in Canadian Institutional Portfolios,” Greenwich Associates, Q2 2013. About BlackRock BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2013, BlackRock’s AUM was US$3.857 trillion. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions. Headquartered in New York City, as of June 30, 2013, the firm has approximately 10,700 employees in 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website at www.blackrock.com . The BlackRock Strategic Portfolio Series of mutual funds are managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account.
Yes, Canada Has Spies, Too
Apparently it’s a shock for some people — namely, journalist Glenn Greenwald, the buddy of NSA contractor turned Russian defector Edward Snowden — to discover how the world has always worked. I’m truly sorry (as we native Canadians tend to be), but color me unfazed and maybe even slightly miffed. Greenwald worked with Brazil’s Globo newspaper to “reveal” that the Communications Security Establishment (Canada’s NSA equivalent) spied on Brazil’s mining sector. Predictably, this story was picked up by the state-owned media in Russia, Canada’s geopolitical rival in the Arctic, as some kind of major scandal. Let he who was without the first wiretap cast the first stone. Oops, that wouldn’t be you, comrades. One of the triggers for the Cold War was the 1945 defection of a Soviet cryptographer working at the Soviet Embassy in Ottawa, revealing a massive network of Soviet spies within Canada. It’s hard to find a more politically benign citizenship than Canada’s. I’ve heard about savvy American tourists who temporarily adopt their neighbor’s nationality as cover — with a Canadian-flag backpack patch, for example — while overseas. When the American Embassy staff in Iran sought refuge from the Iranian hostage crisis (as depicted in Ben Affleck’s Academy Award-winning movie “Argo”), they adopted Canadian cover. And while both the Americans and the British have marketed and hyped their respective intelligence services through Hollywood films such as the James Bond and Jason Bourne series — which seems counterproductive to the objectives of clandestine entities whose activities depend on remaining, you know, discreet — most Canadians probably couldn’t name even a single one of the various Canadian intelligence units. Granted, some Canadians might have heard of CSIS — the Canadian Security Intelligence Service — which the government promoted last year through a series of YouTube videos seemingly intent on showing Canadian spies running around major Canadian cities and never leaving the country. The video series should have been titled, “CSIS: Barely Ever Out of the House.”