Managed Money Reporter Newsletter — Issue 225, February 2006


Editors: Carl Spiess & Allan McGlade


Featured Articles



Last Minute RRSP Reminders

If you are still wondering about what to do with your RRSP contribution to minimize your 2005 taxes, don't worry, just hurry. We can take your contribution up to the March 1st deadline, and simply leave it un-invested or in a daily interest fund (3.25% see below) until you are ready to make an investment decision.

You can use the handy RRSP Investment Order Form, contribute online through ScotiaOnline or simply drop off a cheque with your account number on it at a local ScotiaMcLeod office. A local Scotiabank branch can also help with RRSP loans at prime and can then wire the funds directly to your RRSP account at ScotiaMcLeod (be sure to take along your account number or statement). If you are mailing a cheque, simply ensure that it is received by March 1st. Using a courier is advised in the last two weeks. Then contact us after March 1st to get advice on the best investment(s) for your situation.

More on making your RRSP contribution

Short Term Rates Rising

3.25% daily interest, over 4% on GICs

Most 1-5 year Guaranteed Investment Certificates (GICs) are now offering over 4% interest, and the daily interest Altamira Cashperformer that we have written about in previous issues is paying 3.25%, also guaranteed.

More on short term rates

What are the Qualifications of your Financial Planner?

The CFP Designation is the most widely recognized of the many designations that financial advisors use in Canada. The Financial Planners Standards Council issues the designation, to help individuals find an advisor that can help with all aspects of their financial planning.

We are pleased to note that both Carl Spiess and Allan McGlade have the CFP designation, to help you with all of your financial planning needs.

More on financial planning qualifications

Recommended Reading

Investment Portfolio Quarterly (Winter Issue) now online

After a strong 2005, this edition of Investment Portfolio Quarterly is designed to provide you with a number of key investment strategies to consider for your portfolio for 2006 and beyond.

Dynamic Short Selling

Recently, Dynamic mutual funds mailed unitholders in many of its funds about the intention to add short selling to its list of trading strategies that the portfolio managers may employ. Under tightly controlled parameters, as described, this can help to enhance returns and benefit investors in declining markets.

Dynamic announced the initiative, shortly after winning fund company of the year at the 2005 Canadian Investment awards, where Chairman and Founder Ned Goodman was also honoured with a lifetime achievement award.

As explained to us, they wish to continue their tradition of 40 years of investment innovations that benefit unitholders.

Based on feedback however, Dynamic is not pursuing the short selling strategy in the most conservative Dynamic Dividend funds, but the other funds in the family may take advantage of this strategy from time to time and in a controlled way in the future.

More on Dynamic short selling

Tax Receipt Tips

RRSP tax receipts are issued regularly through the first 60 days of the year, or in the first week of March for clients in payroll deduction plans. Note: contributions made on March 1st, will not show on your February month end statement, but your receipt will be issued in the first week of March, as March 1st is part of the first 60 days of 2006.

For non-RRSP tax related information and mailing dates, please visit the ScotiaMcleod web site (see below).

More on tax receipt tips

Mutual Fund Reporter Recommended Website of the Month

This month's site of the month is the home of the Financial Planners Standards Council. The site has a monthly article, helpful information for consumers, and information about the process and profession of Financial Planning. The public resources include a learning centre with online quizzes where you can test your online IQ.

 



Contact Us

T.  416.863.RRSP (7777)
     1.800.387.9273
F.  416.863.7479
E. carl.spiess@scotiawealth.com
    allan.mcglade@scotiawealth.com

ScotiaMcLeod is a division of Scotia Capital Inc., member of CIPF.

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The Spiess McGlade Team is a personal trade name of Carl Spiess and Allan McGlade.