Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 11, 2009, Winnipeg, Manitoba C m y k Page b8 b 8 Winnipeg free press sunday january 11, 2009 Money matters Winnipeg repress. Com All funds no split corp. Capital units 1500.00% sentry select Canadian income mgt Trust 513.50% Delta one Energy fund up 62.84% trans ims global Market Neutral fund 50.55% trans ims global Market Neutral fund 2 49.28% Canadian equity air div can split corp capital shares be 6.88% premiere stable growth fund 5.18% rec Oshaughnessy All Canadian equity 4.75% rec Oshaughnessy All can eau adv 4.75% rec Oshaughnessy All Canadian equity d 4.74% International equity my into equity accelerator a notes s2 8.13% my into equity accelerator a notes s2 7.61% my into equity accelerator a notes s1 7.58% my into equity accelerator a notes s3 6.94% my into equity accelerator a notes s1 6.64% u. Equity my us Index plus accelerator s1 9.61% first Trust Dowse 10 strategy to 2003 a 9.12% first Trust Dowse 10 strategy to 2003 a 7.40% Ufa u. Value fund class a 7.36% investors u. Dividend growth fund 7.23% weekly Mutual fund movers As of 6 00 p. M. Friday. All prices show the % change from the previous week. Data supplied by fun data Canada inc. Pricing is for information purposes Only and cannot be guaranteed for accuracy. Check with your fund sponsor before buying or Selling. Results in this table exclude offshore funds such As global manager. Winnipeg free press / Wellington West capital an. In a growth income fund 20.00 15.25 38.30 11.40 256 a. In t Arctic Glacier income Trust 1.18 0.55 12.39 46 Law v All in West capital corp 0.16 0.09 0.90 3 a. In Artis reit 7.35 4.52 17.09 14.69 238 brim l Bird River mines inc. 0.05 0.05 0.15 Bui t Buhler industries inc. 5.95 4.75 6.60 2.52 149 by. In t the Boyd group income fund 3.14 1.58 3.23 7.64 35 cos t can West global communications corp. 0.83 0.34 7.19 147 Conj t Cangene corp. 5.75 3.20 7.30 401 Cwg t Craig wireless systems Ltd. 0.15 0.02 4.00 7 a acc l Copper reef mining corp. 0.05 0.02 0.40 dam v Dia Medica inc. 0.90 0.32 1.50 13 Eil v Empire industries 0.22 0.15 0.62 20 Eif. In t Exchange Industrial group income fund 9.64 7.60 11.70 16.18 43 up. In t up newspapers income fund 5.70 4.60 13.10 20.00 39 gds t Gendis inc. 0.67 0.53 2.26 9 Gss v Gossan resources Ltd. 0.15 0.05 0.38 4 Gwo t great West life co inc. 21.50 19.01 35.94 5.72 19,254 him t Sudbay minerals inc. 3.86 2.70 20.77 591 hot. In t Huntingdon reit 0.33 0.11 2.35 24 Ign t Ign financial inc. 34.04 28.27 48.43 6.02 8,933 in t Iris 1.76 1.10 5.97 48 Jov t Jovian capital corporation 0.38 0.15 0.98 63 Keg v King s Bay Gold corp. 0.05 0.04 0.39 2 Kne v Kane biotech inc. 0.11 0.03 0.47 2 Chr. In t Lakeview hotel reit 0.80 0.54 4.10 15.00 15 let. In v Lanesborough reak estate inv. 3.09 1.75 5.96 18.11 54 met t Manitoba telecoms services inc. 34.76 30.01 45.50 7.48 2,247 Mojo v mainstream minerals corp. 0.04 0.03 0.49 1 mom v Mir Culins inc. 0.05 0.02 0.27 1 mph t medicare inc. 0.03 0.02 1.02 3 Nufi. In t new flyer industries 9.08 5.72 12.79 12.89 430 nog v nordic Oil and Gas Ltd. 0.05 0.03 0.77 2 Xvi v Novra technologies inc. 0.01 0.01 0.14 Nawf. In t North West company inc. 15.50 13.00 20.35 8.26 740 out v out inc. 0.01 0.01 0.13 pal. In t Pollard banknote income fund 6.30 4.67 9.45 15.09 40 Rel t Ridley inc. 6.99 6.75 10.25 97 sir v san Gold corp 1.30 0.57 2.25 307 to. In v Temple reit 5.34 3.25 10.05 22.47 68 Wel v Wildcat exploration inc. 0.04 0.01 0.24 2 wok t Cinpak Ltd. 7.30 4.00 8.00 1.64 475 Manitoba stocks these companies All have Headquarters in Manitoba. Closing values Are As of the end of trading Friday. Legend in = income Trust to tax a tax venture Exchange Lover the counter ticker issuer close 52wk 52wk yield % Market Low High Cap $ m bulls & bears a look at some of the weeks winners and losers from markets around the world by John Morrissy can West news service sat Yam computer services Ltd. On the Bombay Stock Friday close 23.75 rupees 153.45 rupees nominations Are pouring in for to be named Winner of the Arthur Andersen award for excellence in accounting. Observers were impressed by the firms professed adherence to strict auditing standards in indians answer to Enron the sat Yam accounting scandal. Nevertheless the software giant somehow managed to conjure a billion dollars in profits out of thin air. Nice trick Waterford Wedgwood on the oct Friday close up $ 0.00037 when polish eyes Are smiling steal your jobs away. Ireland is faltering Economy got a double dram of bitters this week after Chip maker Dell announced it was shifting a slew of work to Eastern Europe and famed China maker Waterford Wedgwood called in the receivers. Could the 90s celtic Tiger be just a Bunch of Blarney Helen of Troy on the Nash a Friday close $ 12.37 us Helen of Troy was looking pretty Good. But then along came this Trojan horse. Out popped a Bunch of warriors who had other things on their mind than buying Helenus hair dryers. With the recession raging on All they wanted to do was pillage and plunder to make up for lost wages. Hard to sell beaut products when things turn so ugly. Sci world Index thursday close 938.56, Down 6.71 Points whats this stocks actually go up sometimes its almost enough to make you get out your Liza Minnelli los and play a few bars of maybe this time. But the Little rally that started the new year is looking a Little iffy with every company on the planet laying off staff and every Central banker warning of dire times ahead. Uranium one on the tax Friday close $ 1.96, anyone taken in by the 2006 run up and subsequent crash of uranium stocks will be awfully gun shy about chasing that Bubble again. But there it is with the likes of uranium one and Denison mines doubling or More from their 2008 lows As the commodity Price firms up. Will we Ever learn up $ 0.07 vices Exchange rupees Down of pc .00037 us d plus Down $ 5.32 w ith interest rates at historic lows and stocks in the dumper investors Are searching for yield wherever they can find it. At least one investment executive believes the answer could come from income trusts a sector of the Canadian Market thatus been largely neglected in the past couple of years. In a recent presentation to Montreal investors guardian capital senior vice president Hugh Macfarlane argued that a diversified portfolio of Quality income trusts can provide upfront yield at a time when Many financial assets Are showing no gains in valuation. Income trusts Are investments that Trade like common stocks but distribute their Cash to unit holders in a tax efficient manner. Because of their focus on distributions trusts Are usually based on mature businesses with steady Cash flows. Youll recall that prices of income trusts dropped sharply in the fall of 2006 when the conservative government announced that by 2011, their tax advantages would end. But that dip was nothing compared with the beating income trusts have taken since the Bear Market began last summer. Unit prices have fallen nearly 50 per cent. Why should investors consider them now one reason says Macfarlane is that at current cheap prices Many income trusts Are paying out annual yields of 10 to 15 per cent. Thatus More than the nine to 10 per cent annualized returns that Are historically produced by Canadian stocks. Guardians portfolio last month held a total of 29 trusts including arc Energy and Canadian Oil Sands in resources Chartwell and Rio can in real estate Davis & Henderson and yellow pages in business trusts and Bell Valliant and Epcot in pipelines and utilities. Even with the Rule changes beginning in 2011, income Trust distributions will be taxed As dividends and will remain attractive on an after tax basis. The tax bite on $ 100 of dividend income is around $ 30 while on $ 100 of interest income its As much As $ 48. Theress another element that could affect demand for these securities baby Boomers Are approaching retirement and need to replace earned income with investment income. Income trusts will remain the asset class of Choice for aging canadians suffering from High taxation Low savings and Low investment yields Mac Farlane predicts. Of course theress no guarantee the recent High yields will continue in the next couple of years. The risk is that trusts could Cut their distributions to investors As the recession deepens. Indeed Given the fall in the Market Price of income trusts investors Are anticipating exactly that. But in Macfar lanes View the Case for trusts makes sense now that equity markets face substantial headwinds. Credit markets still Arentt functioning properly the financial sector is in turmoil u. Housing a snot recovered and de leveraging by businesses Consumers and investors is Likely to continue. Earnings growth and Stock Price multiples will be challenged until there Are signs of sustained improvement in the Economy. It makes sense to stay cautious he says and the upfront yield from Quality income trusts can provide a measure of defensiveness. Most trusts Are expected to convert Back to a corporate Structure Over the next couple of years to comply with the changed rules. And most trusts have stated their intention to remain High yielding entities. After the change business fundamentals and dividend policy will be the key Drivers for investment performance Macfarlane says. Its Worth remembering that the tax changes will have a varying Impact on different sectors of the Trust Market such As real estate business trusts and pipeline and Power trusts. Investors need to do their Homework or Check out their options with a professional adviser. Remember too that the Market rarely offers a free lunch. If the yield on a Security is at 15 per cent thatus because the Market sees a fair amount of risk attached to it. Prudent investors will assume that distributions will be Cut in the new year and should focus on recession resistant businesses. But even settling for a seven per cent yield could be Good for a badly bruised portfolio. Can West news service income trusts granted new respect Many provide significant yields amid worlds economic doldrums by Peter Hadekel Toronto Many investors Are rethinking their tolerance for risk after 2008 s gut wrenching ride on the markets but investment advisers caution that Long term financial goals be eclipsed by knee Jerk reactions to Market volatility. A recent study by Scotia Bank indicates that a Quarter of canadians particularly those Over 50 Are taking a More conservative approach to their investments amid economic uncertainty and volatile financial markets. We had a pretty decent rally from the end of 2002 to. 2008. That was probably one of the longest Bull markets that weave had in Canada said Gareth Watson associate director and Canadian equity adviser at Scotia Mcleod. When markets perform Well for so Many years its easy towards the end of that run that investors May not pay As much attention to their investments As they did at the beginning of that Cycle. The Market plunge in the last four months of 2008 jolted Many investors out of their complacency and forced them to re evaluate their risk tolerance Watson said. But Gaetan Ruest of investors group said investors let Market volatility scare them away from investments that May seem risky now but make sense Given their longer term financial needs. In reassessing your risk tolerance you should keep focused on the objects of your investment is it for retirement is it for a Large Purchase somewhere Down the Road is it to fund the education of your children Ruest said. Investors need to be aware of the time horizon of their goals and assess their risk tolerance accordingly. Regardless of what the objective is the purpose of a risk assessment is to figure out whether or not your time horizon allows you to have the risk profile you currently have for that particular investment Ruest added. That method of evaluating your time horizon should not have changed just by the recent volatility weave seen in the marketplace. Generally the longer you have until your financial goals need to be realized the More risk you can afford to take Ruest said. Therefore investors with Young children who Are saving for their University education 15 years Down the Road for example should stick to equities which usually provide larger returns despite recent Market volatility. Despite the ravages in the latter part of 2008, the markets will rebound and this is another reason not to Rush out of equities Ruest said. I still would not recommend somebody move a portion of their equity into More secure investments right now he said. They can for Comfort Levels but they will find that they will Likely miss out on the Market rebounds when they occur. The Canadian press dont let Short term fears Cloud Long term investment decisions by Kristine Owram Ottawa the seemingly unrelenting flow of evidence of a deepening North american recession is expected to continue this coming week. This is Likely to include reports in Canada of deepening pessimism among businesses further weakness in exports and Home sales and in the u. Of a further slump in retail sales during the crucial Holiday shopping season and what some fear could be the first signs of deflation. The Bank of Canadas latest business Outlook Survey being released monday will be closely scrutinized to see to what extent the credit crunch was continuing to squeeze firms in the final Quarter of last year. In the third Quarter the Survey found rising concerns about the tightening of lending conditions and based on recent comments by finance minister Jim Flaherty those concerns continued through the fourth Quarter despite repeated injections of Cash into credit markets by the Bank of Canada. Meanwhile the news out of the u. S., which by some accounts has been in a recession for a year is expected to suggest that the slump is deepening. In the u. S., markets will see the first negative Reading on the u. Consumer Price Index since 1955, said Cibic world markets economist Avery Shenfeld. The report will Likely spark talk about the risk of deflation an economically debilitating downward spiral in prices warned Shenfeld. However he countered that with the stimulus being injected into the world economies the longer term risk is for a rebound in inflation. Can West news service deflation worries add to widespread pessimism Norm Betts / Bloomberg news archives income trusts like Canadian Oil Sands a big player in the sync rude project in Alberta can earn solid yields an adviser says. B _ 08_ Jan 11 09. Ind b8 1 / 10/ 09 6 24 19 pm ;