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With the elimination of the 30% foreign content restriction on Canadian RRSPs and pensions the world has been opened up to Canadian investors. Interestingly, the timing of this change, we believe, is not unexpected in that the Canadian stock market continues to shrink as numerous corporations vanish
through mergers, takeovers or reorganizations. Dofasco and Placer Dome are
two conspicuous examples. Accordingly, Canadian high net worth and
institutional investors will have to increasingly look beyond Canada's borders
to effectively manage an ever-growing pool of individual, pension and
institutional funds. |
