Managed Money Reporter NewsletterEditors: Carl Spiess & Allan McGlade |
Issue 223 |
After another good year in the markets, we want to thank you for allowing us to help you with your investments. We wish you all the best for the holidays, and look forward to updates from you and your family in the New Year.
The members of our team, who have remained the same for three years now, look forward to continuing to provide you outstanding service for 2006 and beyond.
Best regards from Carl, Allan and the Team.
P.S. Mouse over the photo for a humorous view of the team!
In mid December, many funds pay dividends, which distribute capital gains, interest and dividend income to unitholders. In some taxable accounts, clients choose to have those dividends paid out as cash. In registered accounts (RSPs, RRIFs), most often the dividend is reinvested.
In any case, the result of the dividend is that the unit price falls, by the exact amount of the dividend distribution. You either receive cash or more shares in exchange.
We have a special page explaining this, and the bottom line is that if you simply look at the unit price or average cost of a fund investment, you will be missing part of the return that has been generated.
If you would like to see comprehensive return calculations of your entire account, please contact us.
The 2005 Canadian Investment Awards were held in Toronto recently. Notable winners included Kim Shannon, manager of CI Canadian Investment (one of our recommended funds) for fund Manager of the year, and Ned Goodman, head of Dynamic Mutual Funds, for lifetime achievement. For a complete listing, see the awards listing link, below.
The Altamira CashPerformer has raised its interest rate to 2.75% per annum. This vehicle is completely liquid, has no fees to buy or sell, and can be held in your ScotiaMcLeod account. It is technically a deposit at National Bank, and is covered by CDIC insurance to $100,000. There is now also a US$ version that pays 3.25%.
The latest edition of Scotiabank Global Outlook is now available for you. This has the Bank's predictions for currencies, interest rates and economic growth for Canada and the world.
This month's site has nothing to do with finances, other than to perhaps remind us all to think globally. GoogleEarth, is a program that you download to your computer that lets you fly in from outer space, and zoom right into your own back yard, or visit exotic places. You can also overlay streets, restaurants and see buildings in 3d. It is quite a treat!
T. 416.863.RRSP (7777)
1.800.387.9273
F. 416.863.7479
E. carl_spiess@scotiamcleod.com
allan_mcglade@scotiamcleod.com
ScotiaMcLeod is a division of Scotia Capital Inc., member of CIPF.
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