Industry News

Downgrade sparks gold, bond rally

The U.S. government’s credit downgrade has added more fuel to the fire which swept the equity markets last week, burning a massive hole in portfolios around the world. Money managers say the downgrade might not have been expected on Friday night, but it certainly didn’t come as a surprise. “This debt didn’t just suddenly appear […]

By Staff |August 8, 2011

3 min read

Currency markets shrug off U.S. downgrade

The historic decision by Standard & Poor’s to downgrade the U.S. credit rating may have created scandalous headlines, but currency markets were quick to price it in—shockingly in favour of the greenback. And that trend may continue, according to industry participants in the Canadian financial market. From a currency standpoint, the first-ever downgrade of the […]

By Vikram Barhat |August 8, 2011

4 min read

Mackenzie shuffles management duties

Mackenzie Financial has announced a change of portfolio manager for six of its most popular mandates. The move comes as the company parts ways with sub-advisor Henderson Global Investors. Effective immediately, Mark Grammer, senior vice-president of investments, has been named the co-leader of the Mackenzie Growth Team, and has been appointed lead manager of Mackenzie […]

By Staff |August 5, 2011

2 min read

GMP Capital earnings hit by volatility

Second quarter market volatility dealt a blow to the earnings of GMP Capital, which has reported net income of $5.1 million in net income, down from $24.1 million in the corresponding quarter last year. “We’re highly sensitive to market conditions in the mid-cap segment,” said CEO Harris Fricker. “To date, I don’t think its any […]

By Wire services |August 5, 2011

2 min read