Blog: Cutting Through the Noise

Correction: Steadyhand Savings Fund PerformancePrint

Posted on September 8, 2009

The Globe and Mail ran an article yesterday on how money market funds are holding up given the historically low interest rate environment (The Best and Worst Places to Park Your Cash).

The article highlighted our Savings Fund as the top performing fund over the first seven months of the year, with a year-to-date return of 1.10%. We would like to point out, however, that this figure is incorrect. The actual year-to-date return of the fund (as of July 31) was 0.5%. While this still places the fund among the best performers, it is not at the top of the heap.

As a reminder, we temporarily reduced the fee on the fund back in April from 0.65% to 0.30% to help maintain a positive yield for investors.