Industry News

Money matters make Canadians cringe

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 […]

By Steven Lamb |August 6, 2008

2 min read

Passive investing still wins in bear market: study

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

4 min read

UPDATE: Saxon sold to Mackenzie

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

4 min read

Briefly:

(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