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20 Jan 13:22

Les amateurs de films d’horreur mieux préparés à la pandémie

Les amateurs de films d’horreur font preuve d'une plus grande résilience face à la pandémie.

04 Nov 13:29

Planifier la retraite avec un REEE?

by patriciaracine

Avez-vous déjà pensé financer la retraite de vos clients avec le régime enregistré d’épargne-études (REEE) au lieu du traditionnel régime enregistré d’épargne-retraite (REER)?

« Rien n’est plus important et donc plus précieux que de savoir prendre des décisions ». – Napoléon Bonaparte

Nombreux sont les épargnants qui ne connaissent pas tous les bienfaits du REEE pour leur patrimoine familial. J’ai rencontré peu de parents qui avaient pleinement tiré profit de tous ses avantages. Vos clients qui ont des enfants devraient lire ce qui suit attentivement.

Lorsque votre client désire préparer sa retraite et détient des liquidités, plusieurs choix s’offrent à lui. Et tout le monde y met son grain de sel.

  • Dépenser immédiatement l’argent pour faire ce fameux voyage en Tanzanie;
  • Laisser l’argent au compte et penser que le Bon Dieu fera le travail;
  • Rembourser ses prêts;
  • Investir dans un REER, un compte d’épargne libre d’impôt (CELI) ou dans le REEE de ses enfants.


ampoule-ideeLES FAUSSES CROYANCES

Son ami lui dit : « Rembourse tes dettes en premier et tu seras riche… »

Son garagiste lui conseille : « Mon homme, investis dans tes REER et prend ton remboursement d’impôt pour payer tes dettes. »

Sa belle-mère lui assure : « Jeune homme, n’investis jamais dans les REER parce que tu vas finir par payer de l’impôt à ta retraite de toute façon. »

« Non, non et non! » répond son conseiller. Chaque situation doit être analysée au cas par cas. Vous devez vous assurer de mettre en place la stratégie qui  donnera le plus d’argent à votre client pour chaque dollar investi. Point final.

REER c. REEE : ÉTUDE DE CAS

C’est en analysant les situations particulières qu’on se rend compte que la solution parfois proposée d’emblée pour épargner n’est pas la plus avantageuse.

Jacques et Marie sont dans la trentaine et ont deux jeunes enfants. Malgré les importantes obligations financières qui viennent avec, ils prévoient investir près de 10 000 $ dans leur REER cette année.

Par un beau mardi ennuagé d’octobre, ils décident d’appeler un planificateur financier qu’on leur a référé il y a plusieurs mois. Jacques trouve que le planificateur financier pose beaucoup de questions. Pourtant, toutes ces questions lui permettent d’établir un plan de match et de proposer la meilleure stratégie au vu de leur situation.

Après plusieurs minutes de discussion et une rencontre en personne, le planificateur financier leur conseille d’opter pour la stratégie REEE. Le couple est stupéfait : le rendement supplémentaire est de 95,5 %*.

Actuellement, avec leur investissement de 10 000 $ dans leur REER, la valeur de leur patrimoine serait de 18 705 $ après 15 ans, net d’impôt.

Si ce même montant de 10 000 $ est investi dans le REEE au lieu du REER, la valeur de leur patrimoine serait de 27 026 $ après 15 ans, net d’impôt. Une fois les études des enfants payées, il reste donc davantage de fonds pour financer la retraite.

Le bénéfice s’élève à 8 321 $, soit 95,5 % de plus (rendement de 8 705 $ sur le 10 000 $ initial c. 17 026 $ avec la stratégie REEE).

Maintenant, amusons-nous et projetons cette différence sur 25 ans : Jacques et Marie auraient un montant supplémentaire de 28 177 $ pour leur retraite. Enfin, ils pourraient faire leur voyage en Tanzanie!

Morale de l’histoire : le REEE individuel ou familial ne sert pas seulement à accumuler des sommes pour les études des enfants, il sert aussi à optimiser le patrimoine familial, épargner pour la retraite et bénéficier des incitatifs gouvernementaux de 20 % au fédéral et 10 % au provincial, au minimum. C’est ça, la planification financière.

* Hypothèses : Rendement de 5 %, taux marginal d’imposition de 40 %, subventions liées au REEE de 30 % et 0 % d’impôt sur les paiements d’aide aux études (PAE).

La rédaction vous recommande : 

01 Feb 14:50

Best mutual funds 2016: Honour Roll

by Suzane Abboud

In the Canadian equity category, the poor results of commodity-based stocks translated into weakness in other sectors, such as financials. Still, one person’s problem is often another’s opportunity: Lower oil prices and lower interest rates leave more spending money in consumer’s pockets, while the low Canadian dollar encourages exports. As a result, portfolio managers who concentrate on the consumer, technology or industrial (non-oil related) sectors have fared better and will continue to do so, at least for a good part of this year.

Such is the case with Fidelity Canadian Large Cap, a consistent top performer that regularly appears in my fund selections. The actively managed fund has responded to weakness in the energy and materials sectors by emphasizing investments in technology and industrials.

Likewise, Steadyhand Equity has gained from light exposure to resources and from a healthy allocation to U.S. equities, which continue to benefit from the U.S. dollar appreciation. The fund is fairly diversified and operates with a low cost structure and moderate portfolio turnover.

Canadian Equity Funds

Benchmark index: S&P/TSX Composite Index TR, Five-year return: 3.77%

  • Fund Name Fund Name Five-Year Annualized Return Tax Efficiency(1) Current Value of $10,000 Invested Five Years Ago(2) Performance Rating Performance Rating Risk-Adjusted Return (RAR)(3) Consistency Bear Market Performance(4) Risk Rating MER Cost Rating Cost Rating Minimum Investment
    Fidelity Canadian Large Cap Fund Series B Fidelity Canadian Large Cap Fund Series B 14.20% 67% $19,421 5 Stars 5 Stars 19.25% 67% A 4.5 2.30% 3 Stars 3 Stars $500
    Steadyhand Equity Fund Series A Steadyhand Equity Fund Series A 13.21% 91% $18,597 5 Stars 5 Stars 15.71% 70% B 3.5 1.42% 4 Stars 4 Stars $10,000
    Mawer Canadian Equity Fund Series A Mawer Canadian Equity Fund Series A 12.43% 90% $17,967 5 Stars 5 Stars 14.97% 75% B 3.5 1.21% 5 Stars 5 Stars $5,000
    Beutel Goodman Canadian Dividend Fund Class D Beutel Goodman Canadian Dividend Fund Class D 10.86% NA $16,745 5 Stars 5 Stars 13.96% 63% B 4 1.47% 4 Stars 4 Stars $5,000
    Beutel Goodman North American Focused Eq Fd D Beutel Goodman North American Focused Eq Fd D 9.74% 49% $15,917 4 Stars 4 Stars 10.76% 70% B 3.5 1.50% 4 Stars 4 Stars $5,000
    Beutel Goodman Total World Equity Fund Class D Beutel Goodman Total World Equity Fund Class D 9.44% NA $15,697 4 Stars 4 Stars 10.70% 62% C 3 1.49% 4 Stars 4 Stars $5,000
    Dynamic Dividend Fund Series A Dynamic Dividend Fund Series A 9.01% 66% $15,395 4 Stars 4 Stars 13.14% 65% B 4.5 1.59% 4 Stars 4 Stars $500
    FDP Canadian Dividend Equity Portfolio Series A5 FDP Canadian Dividend Equity Portfolio Series A5 8.66% NA $15,151 4 Stars 4 Stars 9.81% 67% C 3 1.23% 5 Stars 5 Stars $1,000
    RBC North American Growth Fund Series D RBC North American Growth Fund Series D 8.24% 74% $14,860 4 Stars 4 Stars 9.47% 67% C 3 1.21% 5 Stars 5 Stars $500
    BMO Dividend Fund Series A BMO Dividend Fund Series A 7.86% 69% $14,600 4 Stars 4 Stars 10.13% 60% B 4 1.80% 4 Stars 4 Stars $500
    Scotia Canadian Dividend Fund Series A Scotia Canadian Dividend Fund Series A 7.81% 73% $14,564 4 Stars 4 Stars 9.86% 67% B 4 1.72% 4 Stars 4 Stars $500
    RBC Canadian Dividend Fund Series D RBC Canadian Dividend Fund Series D 7.68% NA $14,474 4 Stars 4 Stars 9.62% 65% C 3.5 1.21% 5 Stars 5 Stars $500
    Fidelity True North Fund Series B Fidelity True North Fund Series B 7.47% 26% $14,338 4 Stars 4 Stars 9.41% 60% B 4 2.28% 3 Stars 3 Stars $500
    Jarislowsky Fraser Select Canadian Equity Fund Jarislowsky Fraser Select Canadian Equity Fund 7.37% NA $14,268 3 Stars 3 Stars 9.09% 60% C 3.5 2.11% 3 Stars 3 Stars $500
    TD Dividend Growth Class - Investor Series TD Dividend Growth Class - Investor Series 6.69% NA $13,824 3 Stars 3 Stars 7.73% 60% C 3 2.04% 3 Stars 3 Stars $100
    PH&N Canadian Equity Value Fund Series D PH&N Canadian Equity Value Fund Series D 6.45% NA $13,666 3 Stars 3 Stars 7.24% 60% C 3 1.19% 5 Stars 5 Stars $500
    HSBC Dividend Fund Premium Series HSBC Dividend Fund Premium Series 6.20% NA $13,510 3 Stars 3 Stars 7.33% 62% C 3 1.40% 4 Stars 4 Stars $100,000
     

In the U.S. equity category, do not be fooled by the very strong results achieved by some funds over the past year. The results can be attributed to the U.S. dollar appreciation, as the S&P 500 ended 2015 almost flat on a currency-neutral basis. This proves a point I made last year: that diversifying into U.S. equities is important for Canadian investors. For a number of years now, heavy equity market losses have been accompanied by depreciation of the Canadian dollar. I expect the Canadian dollar will remain weak until we see concrete signs of recovery in commodity prices.
As the name suggests, TD U.S. Quantitative Equity uses a data-driven methodology for fund selection, although its behaviour suggests a high degree of similarity with the S&P 500. Still, the combination of low cost and low turnover has helped the fund deliver superior returns for three consecutive years. There is also evidence of some added value from active management.

Both Mawer U.S. Equity and Brandes U.S. Equity operate with the same favourable combination of low cost and low turnover. However, the funds exhibit a high degree of similarity with the S&P 500, thus limiting their ability to beat the index.

U.S. Equity Funds

Benchmark index: S&P 500 TR Index (C$), Five-year return: 20.57%

  • Fund Name Fund Name Five-Year Annualized Return Tax Efficiency(1) Current Value of $10,000 Invested Five Years Ago(2) Performance Rating Performance Rating Risk-Adjusted Return (RAR)(3) Consistency Bear Market Performance(4) Risk Rating MER Cost Rating Cost Rating Minimum Investment
    TD U.S. Quantitative Equity Fund Investor Series TD U.S. Quantitative Equity Fund Investor Series 20.10% 99% $24,987 5 Stars 5 Stars 18.13% 61% A 4 1.59% 4 Stars 4 Stars $100
    Mawer U.S. Equity Fund Series A Mawer U.S. Equity Fund Series A 19.43% 96% $24,301 5 Stars 5 Stars 18.07% 66% C 3 1.22% 5 Stars 5 Stars $5,000
    Brandes U.S. Equity Fund Class L Brandes U.S. Equity Fund Class L 19.12% NA $23,980 5 Stars 5 Stars 17.66% 63% C 3 1.70% 4 Stars 4 Stars $100,000
    Beutel Goodman American Equity Fund Class D Beutel Goodman American Equity Fund Class D 19.00% 84% $23,868 5 Stars 5 Stars 19.52% 57% A 4.5 1.48% 4 Stars 4 Stars $5,000
    Renaissance U.S. Equity Fund Class A Renaissance U.S. Equity Fund Class A 18.66% 100% $23,521 4 Stars 4 Stars 18.06% 63% B 4 1.96% 4 Stars 4 Stars $500
    BMO U.S. Equity Class Classic Series BMO U.S. Equity Class Classic Series 18.29% 90% $23,159 4 Stars 4 Stars 17.29% 60% B 3.5 2.24% 3 Stars 3 Stars $500
    Standard Life U.S. Equity Value Fund E-Series Standard Life U.S. Equity Value Fund E-Series 17.85% 90% $22,730 4 Stars 4 Stars 17.75% 57% B 4 1.96% 4 Stars 4 Stars $100,000

The global equity category is always a mixed bag. American equities typically constitute about half of a fund’s portfolio, so U.S. influence is inevitable. Meanwhile, European equities remain undervalued by historical standards and pay high dividends. That the euro is now cheap adds to the category’s attraction. As for emerging markets, further turbulence is expected, but a careful fund manager should identify bright spots within countries and sectors that benefit from cheap commodity prices. For those reasons, I think global equities currently represent a viable option for adding diversification to your portfolio.

Mawer Global Equity continues to post superior returns with relentless consistency. That the fund experiences less volatility than its peers or the index reflects value added from active management. It also has a low cost structure and low portfolio turnover: The average holding period of a security can be as long as seven years.

Manulife Global Equity Class Advisor Series has posted superior results in each of the past four years. The portfolio’s recent focus has been on financials, technology and health-care stocks. Although the portfolio is similar to the index, there is evidence of value added from active management. The fund’s very low portfolio turnover represents a structural advantage.

Global Equity Funds

Benchmark index: Dow Jones Global TR Index (C$), Five-year return: 14.11%

  • Fund Name Fund Name Five-Year Annualized Return Tax Efficiency(1) Current Value of $10,000 Invested Five Years Ago(2) Performance Rating Performance Rating Risk-Adjusted Return (RAR)(3) Consistency Bear Market Performance(4) Risk Rating MER Cost Rating Cost Rating Minimum Investment
    Mawer Global Equity Fund Series A Mawer Global Equity Fund Series A 17.84% 99% $22,722 5 Stars 5 Stars 19.98% 73% B 4 1.41% 5 Stars 5 Stars $5,000
    Manulife Global Equity Class Advisor Series Manulife Global Equity Class Advisor Series 15.87% 99% $20,884 5 Stars 5 Stars 17.18% 63% B 4 2.47% 3 Stars 3 Stars $500
    Sun Life MFS Global Value Fund Series A Sun Life MFS Global Value Fund Series A 15.85% NA $20,865 5 Stars 5 Stars 17.29% 62% B 4 2.46% 3 Stars 3 Stars $500
    Trimark Fund Series SC Trimark Fund Series SC 15.18% 99% $20,269 4 Stars 4 Stars 16.04% 60% B 3.5 1.71% 5 Stars 5 Stars $500
    RBC Jantzi Global Equity Fund Series D RBC Jantzi Global Equity Fund Series D 14.88% 86% $20,011 4 Stars 4 Stars 14.81% 63% C 3 1.28% 5 Stars 5 Stars $500
    Capital Group Global Equity Fund (Canada) Ser A Capital Group Global Equity Fund (Canada) Ser A 14.56% 100% $19,731 4 Stars 4 Stars 14.81% 62% C 3 2.03% 4 Stars 4 Stars $500
    Fidelity Global Dividend Fund Series B Fidelity Global Dividend Fund Series B 14.05% 97% $19,295 4 Stars 4 Stars 16.47% 57% B 4 2.42% 3 Stars 3 Stars $500
    AGF Global Dividend Fund Mutual Fund Series AGF Global Dividend Fund Mutual Fund Series 13.08% 98% $18,486 3 Stars 3 Stars 15.07% 53% B 4 2.41% 3 Stars 3 Stars $500
    Mackenzie Ivy Foreign Equity Fund Series A Mackenzie Ivy Foreign Equity Fund Series A 12.76% 93% $18,231 3 Stars 3 Stars 15.66% 53% A 5 2.51% 3 Stars 3 Stars $500
    Trimark Global Dividend Class Series T4 Trimark Global Dividend Class Series T4 12.43% NA $17,966 3 Stars 3 Stars 15.15% 53% B 4.5 2.50% 3 Stars 3 Stars $500

In the balanced category, the Manulife Monthly High Income tops the list for the second year in a row with consistent above-average returns. The fund maintains a well-diversified portfolio which contributes to an acceptable down market performance. However, as I mentioned last year, do not misinterpret the generous cash distributions as investment income, given that a large part of that is made of capital gains or return of capital. Actual net income distributions (from interest and/or dividends) remain in the vicinity of 2%.

Another consistent performer from last year’s Honour Roll is Fidelity Monthly Income. Its superior recent results have come on the back of a strong showing by the bond component of its portfolio and exposure to dividend-paying equities. Net investment income distributions have recently averaged 2.5%.

Incidentally, I have personal reservations about balanced funds. On average, most balanced funds retain at least 30% to 40% (and sometimes more) of their portfolio in bonds. I feel that you are paying unnecessarily high fees on this component of your portfolio, and could achieve better results by sticking to a diversified portfolio of stocks and bonds. That said, finding an optimal allocation can be a daunting task for many investors who prefer to outsource the chore to their fund manager. If you do invest in a balanced fund, ensure that it that charges low fees and delivers at least some added value from active management. Fortunately, the Honour Roll’s methodology shortlists funds with those very characteristics.

Canadian Balanced Funds

Benchmark index: Fundata Canadian Balanced Index, Five-year return: 4.33%

  • Fund Name Fund Name Five-Year Annualized Return Tax Efficiency(1) Current Value of $10,000 Invested Five Years Ago(2) Performance Rating Performance Rating Risk-Adjusted Return (RAR)(3) Consistency Bear Market Performance(4) Risk Rating MER Cost Rating Cost Rating Minimum Investment
    Manulife Monthly High Income Fund Advisor Series Manulife Monthly High Income Fund Advisor Series 8.51% NA $15,042 5 Stars 5 Stars 10.03% 65% B 3.5 2.04% 3 Stars 3 Stars $500
    Fidelity Monthly Income Fund Series B Fidelity Monthly Income Fund Series B 7.38% 53% $14,276 4 Stars 4 Stars 9.82% 57% C 3 2.09% 3 Stars 3 Stars $500
    Compass Conservative Balanced Portfolio Series A Compass Conservative Balanced Portfolio Series A 7.37% 69% $14,267 4 Stars 4 Stars 10.27% 72% B 3.5 1.69% 4 Stars 4 Stars $1,000
    Fidelity Income Allocation Fund Series A Fidelity Income Allocation Fund Series A 6.96% 67% $13,996 4 Stars 4 Stars 9.66% 57% A 4 1.99% 3 Stars 3 Stars $500
    FDP Balanced Portfolio Series A5 FDP Balanced Portfolio Series A5 6.40% 56% $13,634 4 Stars 4 Stars 7.23% 67% C 3 1.26% 4 Stars 4 Stars $1,000
    Dynamic Dividend Income Fund Series T Dynamic Dividend Income Fund Series T 6.38% 100% $13,625 4 Stars 4 Stars 7.82% 65% C 3 2.16% 3 Stars 3 Stars $500
    Steadyhand Income Fund Steadyhand Income Fund 6.12% NA $13,457 3 Stars 3 Stars 9.53% 53% A 4.5 1.04% 5 Stars 5 Stars $10,000
    Jarislowsky Fraser Select Income Fund Series E Jarislowsky Fraser Select Income Fund Series E 6.10% NA $13,448 3 Stars 3 Stars 10.29% 55% A 4.5 0.92% 5 Stars 5 Stars $10,000
    BMO Monthly Income Fund Series A BMO Monthly Income Fund Series A 5.95% NA $13,351 3 Stars 3 Stars 7.06% 53% C 3 1.57% 4 Stars 4 Stars $500
    Compass Conservative Portfolio Series A Compass Conservative Portfolio Series A 5.83% 47% $13,273 3 Stars 3 Stars 10.43% 57% A 4.5 1.38% 4 Stars 4 Stars $1,000
    Renaissance Optimal Income Portfolio T6 Renaissance Optimal Income Portfolio T6 5.68% NA $13,179 3 Stars 3 Stars 7.48% 52% C 3 1.95% 3 Stars 3 Stars $500
    TD Advantage Balanced Income Portfolio H TD Advantage Balanced Income Portfolio H 5.60% 41% $13,131 3 Stars 3 Stars 8.30% 52% B 3.5 1.97% 3 Stars 3 Stars $5,000
    SEI Income 40/60 Fund Class S SEI Income 40/60 Fund Class S 5.55% 79% $13,103 3 Stars 3 Stars 7.14% 52% C 3 1.66% 4 Stars 4 Stars $1,000
    Scotia Diversified Monthly Income Fund Series A Scotia Diversified Monthly Income Fund Series A 5.50% 53% $13,067 3 Stars 3 Stars 6.71% 60% C 3 1.46% 4 Stars 4 Stars $500
    National Bank Moderate Strategic Portfolio NR National Bank Moderate Strategic Portfolio NR 5.37% 100% $12,987 3 Stars 3 Stars 7.28% 62% C 3 2.07% 3 Stars 3 Stars $10,000
    Scotia INNOVA Balanced Income Portfolio Series A Scotia INNOVA Balanced Income Portfolio Series A 5.30% 57% $12,943 3 Stars 3 Stars 7.62% 53% C 3 1.94% 3 Stars 3 Stars $50,000
    BMO Asset Allocation Fund Series A BMO Asset Allocation Fund Series A 5.16% 55% $12,863 3 Stars 3 Stars 5.96% 57% C 3 2.12% 3 Stars 3 Stars $500

The Canadian small cap category, characterized by heavy concentration on energy and natural resources, has been among the worst affected over the past year. Only a small group of funds have been able to avoid the carnage with limited losses, and they were the funds that carried the highest exposure to sectors like technology and telecommunications. Such is the case with Pender Small Cap Opportunities, which against all odds managed to end the year with significant gains (unfortunately, the fund is closed to new investments).

Likewise, National Bank Quebec Growth also managed to end the year in positive territory. Bear in mind: By mandate, this fund concentrates on firms that conduct a large portion of their business in Quebec. Given that the province has limited dependence on natural resources, the fund’s exposure to the sector is less than 20% of the portfolio. This is one of several funds in the category (like Mawer, HSBC, BMO Enterprise and Trimark Canadian Endeavour) that periodically feature on the Honour Roll,  another tribute to their superior long-term performance record.

Canadian Small Cap Funds

Benchmark index: BMO Canadian Small Cap Index, Five-year return: -4.88%

  • Fund Name Fund Name Five-Year Annualized Return Tax Efficiency(1) Current Value of $10,000 Invested Five Years Ago(2) Performance Rating Performance Rating Risk-Adjusted Return (RAR)(3) Consistency Bear Market Performance(4) Risk Rating MER Cost Rating Cost Rating Minimum Investment
    Pender Small Cap Opportunities Fund Class A6 Pender Small Cap Opportunities Fund Class A6 19.83% 87% $24,707 5 Stars 5 Stars 27.18% 62% A 4 2.50% 3 Stars 3 Stars $2,500
    National Bank Quebec Growth Fund Adv/ISC National Bank Quebec Growth Fund Adv/ISC 16.72% NA $21,663 5 Stars 5 Stars 28.90% 68% A 4.5 2.49% 3 Stars 3 Stars $500
    Mawer New Canada Fund Series A6 Mawer New Canada Fund Series A6 16.70% NA $21,640 5 Stars 5 Stars 21.84% 72% C 3 1.40% 5 Stars 5 Stars $5,000
    BMO Enterprise Fund Classic6 BMO Enterprise Fund Classic6 15.99% NA $20,990 4 Stars 4 Stars 20.79% 72% C 3 2.06% 4 Stars 4 Stars $500
    HSBC Small Cap Growth Fund Investor Series HSBC Small Cap Growth Fund Investor Series 14.03% NA $19,275 4 Stars 4 Stars 18.56% 68% C 3 2.25% 4 Stars 4 Stars $500
    Fidelity Special Situations Fund Series A Fidelity Special Situations Fund Series A 12.32% 48% $17,874 4 Stars 4 Stars 15.20% 68% C 3 2.50% 3 Stars 3 Stars $500
    Dynamic Real Estate & Infrastructure Income Fund A5 Dynamic Real Estate & Infrastructure Income Fund A5 11.94% NA $17,573 4 Stars 4 Stars 22.09% 53% A 5 2.50% 3 Stars 3 Stars $150,000
    Manulife Canadian Focused Fund Advisor Series Manulife Canadian Focused Fund Advisor Series 9.96% NA $16,072 4 Stars 4 Stars 13.26% 60% C 3 2.32% 3 Stars 3 Stars $500
    CI Can-Am Small Cap Corporate Class A CI Can-Am Small Cap Corporate Class A 9.07% NA $15,432 3 Stars 3 Stars 17.70% 52% B 5 2.42% 3 Stars 3 Stars $500
    Trimark Canadian Endeavour Fund Series A Trimark Canadian Endeavour Fund Series A 9.02% NA $15,400 3 Stars 3 Stars 13.04% 53% C 3 2.21% 4 Stars 4 Stars $500
    RBC O'Shaughnessy All-Canadian Equity Fund D RBC O'Shaughnessy All-Canadian Equity Fund D 8.82% NA $15,258 3 Stars 3 Stars 14.03% 58% C 3 1.21% 5 Stars 5 Stars $500
    Fidelity Greater Canada Fund Series B Fidelity Greater Canada Fund Series B 7.67% NA $14,472 3 Stars 3 Stars 12.47% 52% B 4 2.36% 3 Stars 3 Stars $500

How to use these tables

Overall ratings in each category go from one star (poor) to five stars (excellent). Any Honour Roll fund is a good buy, but some may be better for you than others. For instance, if you’re investing outside an RRSP, pay particular attention to “Tax Efficiency.” This measures how much of the return on a fund has been lost to taxes on distributions. (Funds that don’t distribute cash don’t lose anything and so are rated at 100%.) In general, the higher this number, the better for funds held in taxable accounts. All investors should consider risk as well. “Risk-Adjusted Return” shows how much return each fund has achieved in proportion to its risk—again, the higher, the better. If you want to play it safe, look for funds with a high “Consistency” rating (which shows the percentage of months in which a fund has performed better than its peers) and strong “Bear Market Performance” (the best funds get ‘A’s and so on, down to ‘E’s).

  •  

1 Tax efficiency estimates the percentage of total returns retained by investors, assuming a 46% tax rate for interest income, 25% for capital gains and 23% for dividends. Not applicable for RRSP investors

2 Based on five years’ historical return, before sales charges and commissions

3 For details on risk-adjusted return calculation, check moneysense.ca or fundscope.ca

4 Based on average monthly
loss during market corrections

5 Restricted/may not be sold in all provinces

6 Closed for new investors, check availability of other versions

Sources: Fundata Canada Inc. & FundScope Limited  November 2015

The post Best mutual funds 2016: Honour Roll appeared first on MoneySense.

15 Dec 12:33

An End-of-Year Marketing Checklist

by Crystal Butler

While you are scrambling to finish the last quarter’s tasks that may have gotten lost in the wrapping paper, I want to make sure you do not forget anything that will make 2016 your best year ever. Here is a checklist to make your marketing is as impactful as possible.

For more information about Advisor Perspectives services, click on the advertisement below:

Advisor Perspectives Advertisement

25 Apr 13:44

Ubuntu MATE 15.04 Released, First Version As An Official Ubuntu Flavor

by noreply@blogger.com (Andrew)
Ubuntu MATE 15.04 was released today, this being the first version as an official member of the Ubuntu family. Compared to the previous releases, when the distro was an unofficial flavor, there are numerous changes, including new default applications, a built-in panel layout switcher, new default theme and much more.

Ubuntu MATE 15.04 Vivid Vervet screenshots

For those who are not familiar with MATE, this is a GNOME 2 fork which lets you use the old GNOME 2 desktop interface and applications but it also allows you to use new applications so for instance, you can use Gedit 3 if you want, etc.


Changes in Ubuntu MATE 15.04 (Vivid Vervet)


Note: the changes below are between Ubuntu MATE 15.04 and 14.10. Some of these changes were already present / were backported to Ubuntu MATE 14.04 LTS (which was released after 14.10).

One of the most interesting changes for regular desktop users in Ubuntu MATE 15.04 is MATE Tweak, which is installed by default and comes with a couple of new features which many MATE users will love.

Firstly, the app now allows switching between Compiz and Marco, just like in Linux Mint 17.1 MATE, without having to restart the session:

Ubuntu MATE 15.04 Vivid Vervet screenshots

CompizConfig Settings Manager, the tool which allows enabling various Compiz plugins and tweaking its settings, is not installed by default though.

And secondly, the tool can now be used to switch between various panel layouts, including: Ubuntu MATE (default), Eleven (with a top panel for the menu, systray, etc. and Plank at the bottom, as the app switcher/launcher) and more:

Ubuntu MATE 15.04 Vivid Vervet screenshots

Ubuntu MATE 15.04 Vivid Vervet screenshots

Ubuntu MATE 15.04 Vivid Vervet screenshots

Ubuntu MATE 15.04 Vivid Vervet screenshots

Depending on the packages installed on your system, more layouts can show up here. For instance, if you install the Ubuntu Indicator Applet from the PPA linked below, you'll get an extra panel layout with Ubuntu Indicators.

Another change compared to the previous (unofficial) Ubuntu MATE releases is that Ubuntu MATE 15.04 doesn't support Ubuntu/Unity Indicators out of the box because they don't support GTK2:

Ubuntu MATE 15.04 Vivid Vervet screenshots

The Ubuntu Indicator Applet version used in previous Ubuntu MATE releases was patched to work with GTK2 and it was available in a PPA - since Ubuntu MATE 15.04 is an official Ubuntu flavor, it can't use PPAs by default and thus, the patched Indicator Applet is not provided on a fresh installation.

However, you can install the Ubuntu Indicator applet along with the Sound Indicator package (patched for MATE) from a PPA by following THESE instructions.

As for the artwork, Ubuntu MATE 15.04 ships with a new default theme, called Yuyo Dark, as well as a light "Yuyo" alternative:

Ubuntu MATE 15.04 Vivid Vervet screenshots

Ubuntu MATE 15.04 Vivid Vervet screenshots

However, Ambiant MATE is still used for the LightDM Greeter (login screen), probably because Yuyo still needs some tweaks to work to properly support it.

Also, compared to Ubuntu MATE 14.10, the default icon theme (Ambiant MATE) now uses green icons (this was already available in Ubuntu MATE 14.04), as you can see in the screenshots above.

Other changes in Ubuntu MATE 15.04 (Vivid Vervet):
  • enabled restating X via Ctrl+Alt+Backspace;
  • enabled screen reader activation via LightDM indicators and LightDM key bindings;
  • enabled touch to click by default for touchpads;
  • added menu categories to System > Preferences;
  • thanks to a GTK2 bugfix, MATE should have better multi-monitor support;
  • merged MATE Compatibility integration into upstream Compiz;
  • Ubuntu 15.04 has adopted multilib GObject introspection runtime (gir) which means Caja plugins now work "out of the box";
  • more.


Default applications / packages


The latest Ubuntu MATE 15.04 ships with MATE 1.8.2 and compared to Ubuntu MATE 14.10, it comes with quite a few new default applications:
  • MATE Tweak (a MintDesktop fork) - lets you configure which icons to show on the desktop, enable/disable compositing, change the window buttons layout, show/hide icons in menus and buttons and more;
  • MATE Menu (a MintMenu fork) - a searchable menu for the MATE panel. This is not the default menu, but you can add it to the panel by right clicking the panel, selecting Add to Panel and then adding "MATE Menu";
  • Totem has been replaced by VLC;
  • Plank, the elementary OS dock, is now installed by default in Ubuntu MATE (but it's not used by default);
  • Tilda, a Quake-like drop-down terminal;
  • Folder Color, a Caja (it also supports Nemo and Nautilus) extension which allows changing individual folder colors (useful for organizing your folders, make some important folder stand out, etc.), as well as change all the the folder colors or add emblems;
  • guvcview, an app that uses your webcam to take photos and videos;
  • LightDM GTK+ Greeter Settings, a tool which allows modifying various login screen settings such as the theme, font, background and much more.

Here are screenshots with some of these new default apps:

Ubuntu MATE 15.04 Vivid Vervet screenshots

Ubuntu MATE 15.04 Vivid Vervet screenshots

Ubuntu MATE 15.04 Vivid Vervet screenshots

Ubuntu MATE 15.04 Vivid Vervet screenshots

Besides the new default apps, Ubuntu MATE 15.04 ships with Firefox 37, Thunderbird 31.6.0, LibreOffice 4.4.2, Transmission 2.84, Shotwell 0.20.2, Rhythmbox 3.1, Pidgin 2.10.9, Brasero 3.12, Deja Dup 32 and HexChat 2.10.1, as well as the MATE 1.8.x core apps like Caja (file manager), Pluma (text editor) and so on.

Just like Ubuntu 15.04, the latest Ubuntu MATE release ships with the Ubuntu Linux Kernel 3.19.0 based on the upstream 3.19.3 Linux Kernel, Mesa 10.5.2, Xorg server 1.17.1, PulseAudio 6.0 and systemd 219 (and uses systemd as the default init system).


Download Ubuntu MATE 15.04


Download Ubuntu MATE 15.04 (now also available for Raspberry Pi 2)

Before installing it, make sure you read the official release notes! Also, note that Ubuntu MATE 15.04, like all non-LTS Ubuntu flavors, is supported for only 9 months!

To see what's new in Ubuntu (with Unity) 15.04, check out THIS article.

09 Apr 10:58

L’effet imprévu de la chute du dollar canadien

by L'actualité
touristes-chinois

Photo : Mike Goldwater/Alamy

La demande de visas de tourisme par des Chinois a augmenté de 51 % en janvier par rapport à la même période l’an dernier.

Les services consulaires, débordés, ont dû ajouter du personnel pour traiter les requêtes.

Le nombre de visiteurs venus de l’Empire du Milieu avait déjà triplé depuis 2009, année où Pékin a accordé au Canada le statut de « destination approuvée ». La baisse du dollar canadien — qui a fait grimper la valeur du yuan chinois de 12 % en six mois — a fait exploser la demande.

Selon les prévisions du Conference Board du Canada, environ 400 000 Chinois devraient débarquer au pays cette année.

Cet article L’effet imprévu de la chute du dollar canadien est apparu en premier sur L'actualité.