AGF Management Ltd.\u2019s trust unit has temporarily discontinued its 100% no-margin loan product, the company confirmed on Monday.
The product provides investors with 100% financing loans for investment purposes, with no margin calls.
The discontinuation is a result of lower demand for products and a difficult economic environment, according to AGF\u2019s vice-president of communications, Lucy Becker.
\u201cWe are being prudent by scaling back on some of our initiatives,\u201d she said.
\u201cWe will continue to closely monitor the situation and if warranted, we will consider making further adjustments and\/or enhancements to our product line-up.\u201d
The company continues to offer investment loans, and it will continue offering RSP loans through certain firms with which it has established strategic partnerships, Becker said.
She added that AGF still offers its \u201cUp to 3-for-1 No Margin\u201d loan, which lets investors borrow up to three times the amount they put forward in pledged assets without margin calls.
The product discontinuation follows news last week that AGF\u2019s trust unit laid off 10% of staff as a result of the challenging economic conditions.
IE<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
Lower demand during difficult economic environment<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2315],"tags":[2514],"yst_prominent_words":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/306519"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=306519"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/306519\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=306519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=306519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=306519"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=306519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}