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ADVISOR FOCUS - a newsletter from globeadvisor.com
3 April 2003

Current Issue | Subscribe to Advisor Focus | Back Issues


SPOTLIGHT: Smart Decisions on Income Trusts

Top 10 Canadian Income Trusts
by 1-Year Returns (28 Feb 03)

Dynamic Focus Plus Divers Inc Trust  
Disciplined Leadership RSP High Inc  
Disciplined Leadership High Income  
Bissett Income-F  
Bissett Income-A  
Talvest Millennium High Income  
Saxon High Income  
Renaissance Canadian Income Trust  
Elliott & Page Monthly High Income  
MLI E&P Monthly High Income GIF 2  
  • Not All Income Trusts are Going to be Winners
    Income trusts are a made-in-Canada product gaining popularity with their target market of retail investors. The roaring yields of the past three years will likely abate, but some trusts still offer formidable opportunities.
     
  • Ontario to Limit Liability of Income Trust Owners
    Canada's publicly traded income trusts scored a major victory recently when the Ontario government said it will introduce legislation to limit the liability of unitholders. Big news this move will remove a disincentive to invest, and increase liquidity. Are Alberta and other provinces to follow?
     
  • Vox: You Can't Price Dirt if You Don't Understand it
    Not so fast jumping on the income trust bandwagon. Investing wisely, cautions Fabrice Taylor, requires research and perspective. "Income trusts may look safe in a bond-like way, but they aren't bonds; they're equities that pay out all their earnings."
     
  • Halterm Income Fund Provides A Cautionary Tale for Investors
    Choose your income trust wisely, or your returns may droop, or even worse disappear altogether. When biz is bad, distributions are among the first things to go, along with the share price. The key, again, is understanding the business that your clients are buying. Read the full story and avoid the next Halterm Income Fund.

INDUSTRY UPDATE: Mutual Fund News

  • Ainsworth joins Mackenzie Financial
    All-star mutual fund manager Ian Ainsworth is back in the investing game after joining Mackenzie Financial Corp. yesterday.Mr. Ainsworth will run two funds for Mackenzie and lead one of the teams that picks stocks for the company's fund of funds. He was most recently working at Altamira Investment Services Inc., where he won manager-of-the-year honours from several industry groups in 1999 and 2000.
     
    More:
    Mackenzie launches new funds 
     
    Also: AIM makes changes to funds

THE MARKETS: Stormy, but Bright Spots on the Horizon

  • Stock Markets Suffer Another Losing Quarter
    As of March-end, the Toronto Stock Exchange's benchmark S&P/TSX Composite was down 4.1% year-to-date. Traditional safe havens fared poorly. But strategists say certain events could provoke a rally.
     
    Also: War Fears Spur Stock Selloff
     
  • Conditions Called Good for Investors
    Contrarian view: A veteran Bay Street fund manager says these are the most favourable market conditions he's seen in his 20-year career. Specifically drawn to junior oil and gas stocks, plus large caps with "exceptional value," this active trader shares some picks with Globe and Mail mutual funds reporter Angela Barnes.

PERSONAL FINANCE: Read What Your Clients are Reading

  • Troll the Net For Tax Help
    Most advisors are familiar with some of the online tax help available; here Rob Carrick offers an update. Which Web sites offer the best interface, least headaches? Does filing online mean you're more likely to be audited? Here are the answers.
     
  • A DRIP Is The Best Stock Market Bargain Around
    Get re-acquainted with dividend reinvestment plans. In this column, Rob Carrick asks: "Which DRIP stocks stand out as having the most bargain potential? Are your clients fully exploiting their opportunities to invest in fractional share amounts, without brokerage fees?