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(September 14, 2007) Worries over the sub-prime mortgage market are weighing heavily on American consumers, driving confidence to a 16-month low, according to RBC’s monthly Consumer Attitudes and Spending by Household (CASH) Index.

Stock market volatility and a softer job market aren’t helping matters, as the index reading fell 18 points to 71.1 in September. Only 49% of consumers said they did not expect anyone they knew to lose their job in the coming six months, down from 56% in August.

“The magnitude in the drop of consumer confidence is not surprising given the rocky economic ride consumers are experiencing,” said T. J. Marta, economic and fixed income strategist for RBC Capital Markets. “Although some of the factors weighing on consumers could dissipate in coming weeks, the decline in confidence is consistent with our view that U.S. economic growth will moderate through the remainder of the year.”

The survey found that 31% of respondents had a negative view of current economic conditions, compared to just 19% who felt positively. Consumers’ investment confidence was also in decline, with 44% saying they are less confident in their ability to invest in the future, compared to only 37% in August.

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BMO opts for fixed fund fees

(September 14, 2007) BMO Investments has announced it will pay the majority of operating expenses for its funds, instituting a fixed administration fee, effective December 1, 2007.

“By replacing operating expenses with a fixed administration fee, the MER for each BMO fund will become more stable and provide unitholders with clear pricing and greater certainty about the cost of investing in a BMO mutual fund,” said Ed Legzdins, president and CEO, BMO Investments.

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Claymore celebrates milestone

(September 14, 2007) Claymore Investments is celebrating the first anniversary of the launch of its exchange-traded funds, including its U.S. Fundamental Index, Canadian Dividend & Income Achievers and Canadian Fundamental Index and BRIC ETFs.

“We started this business to bring some innovation to the Canadian ETF marketplace and to help change Canada’s investment landscape,” said Som Seif, CEO of Claymore Investments. “We are proud of all our funds and what they have been able to achieve in terms of both performance and investor penetration. These products give Canadian investors options from traditional ETFs and, more importantly, high priced mutual funds.”

Claymore offers 11 other ETF mandates as well as the four mentioned above. Total ETF assets under management top $500 million.

(09/14/07)