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(August 7, 2008) American consumer confidence has slowed its decline, according to the latest reading of the RBC CASH (Consumer Attitudes and Spending by Household) Index. Overall consumer confidence rose 19.2 points, to a reading of 33.8. The July measurement of 14.6 had marked the all-time low for the index since it was launched in […]
By Staff |August 7, 2008
2 min read
With summer winding down and a new school year on the horizon, it’s a good time for clients to assess their projected child care costs and how they will factor into this year’s return. Unlike some other deductions, child care expenses cannot be carried over and must be claimed the year they are incurred. This […]
By Mark Noble |August 7, 2008
5 min read
The banks — the most mainstream of players — sealed the deal. The entry of RBC, Scotiabank and TD Bank into the green investing realm last year made the case that this style of investing was not just a passing trend. For many industry observers, the launch of these bank-sponsored funds solidified the notion that […]
By Romana King |August 7, 2008
4 min read
Mutual fund sales in July were positive, though difficult to gauge, with the Investment Funds Institute of Canada reporting a preliminary estimate of between $480 million and $980 million in net sales. “Though markets have been uncertain as of late, investors continue to invest in mutual funds, albeit money market funds,” said Pat Dunwoody, vice-president […]
By Steven Lamb |August 6, 2008
(August 6, 2008) The Ontario Securities Commission has appointed Michael Watson, Q.C., as special advisor, capital markets enforcement, to the RCMP’s Integrated Market Enforcement program. Appointing such an expert to IMET was a key recommendation of a report penned by Nick Le Pan, titled Enhancing Integrated Market Enforcement Teams, Achieving Results in Fighting Capital Markets […]
By Staff |August 6, 2008
Many Canadians are worried about their personal finances and do not understand important financial concepts, according to a poll conducted by Harris/Decima for BMO Financial Group. Nearly half (46%) of all respondents reported feelings of anxiety when confronted with their finances. Those feelings subside slightly as incomes rise, but even among those with a household […]
A new study challenges the notion that active managers outperform indexes in down markets. According to Standard & Poor’s Indices Versus Active Funds Scorecard (SPIVA) report, which looks at the bear market that occurred between 2000 and 2002, active Canadian equity managers fared better than usual, but the indexes still won. One of the favoured […]
By Mark Noble |August 6, 2008
After actively shopping itself around, Saxon Financial has found a buyer and a price it likes, courtesy of Mackenzie Financial. Mackenzie will pay a generous price for the firm, offering Saxon shareholders $21.00 in cash per Saxon share, approximately a 65% premium over the stock’s closing price of $12.70 on Friday. The all-cash deal is […]
August 5, 2008
(August 5, 2008) As expected, the U.S. Federal Open Market Committee announced Tuesday it is holding the line on target for the federal funds rate at 2%. The Fed said economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports, but labour markets have softened further and financial markets remain […]
By Staff |August 5, 2008
3 min read
Nothing lasts forever: it’s a lesson that Canadian mutual fund investors chasing returns in the commodities sector learned in July, according to data from Morningstar Canada. Tumbling prices for gold, crude and various other industrial inputs pushed commodities-focused mutual funds to the bottom of the heap last month, with the Morningstar Precious Metals Equity Fund […]
By Steven Lamb |August 5, 2008
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