Take stock – May 13

Mutual fund rating agency Morningstar has ranked Canada mid-pack among 16 major countries as a good place for fund investors — but with a failing grade for fees and expenses.

Morningstar grades Canada mid-pack for Fund Investors

Mutual fund rating agency Morningstar has ranked Canada mid-pack among 16 major countries as a good place for fund investors — but with a failing grade for fees and expenses. Canada rates high for investor protection and investment transparency, and its overall grade was B-minus, based on criteria which also included taxation and investment choices. This grade put Canada behind Japan, the Netherlands, Taiwan and Italy, all rated B, but ahead of Britain, France and Switzerland, all at C-plus. The United States got the only A overall rating in the study released Tuesday, ahead of China at B-plus. Canada, by contrast, got the only F grade for fees among the 16 countries studied. The typical Canadian fund investor pays a management expense ratio of 1.25 to 1.49 per cent for a bond fund, and between two and 2.5 per cent for an equity fund. Canadians also typically face a front-end load of between four and five per cent, “primarily because investors are unaware that this fee is negotiable,” the Morningstar study adds.

Western forest faces deeper Q1 losses

Western Forest Products Inc. (TSX:WEF) said Tuesday it will continue to sell assets it doesn’t see as key to company growth, but that the economic downturn has slowed potential sales. The forestry company, which reported a deeper loss and 25 per cent drop in wood product sales in the first quarter, said it plans to use the money from assets it unloads to reduce borrowing and improve its balance sheet. But acting president and chief executive Dominic Gammiero said the recession has halted its plans to sell “non-core assets” in recent months. “Unfortunately the market for these assets have contracted this past year,” Gammiero told shareholders at the company’s annual shareholder meeting in Vancouver.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Samson Cree Nation reeling after 10 year-old-boy-shot, 13-year-old charged with manslaughter

‘Don’t give up, keep praying, we will get through this’

The latest numbers on COVID-19 in Canada for Aug. 9

The latest numbers of confirmed COVID-19 cases in Canada as of 4:00… Continue reading

Team says technical issues from ‘unprecedented demand’ left Oilers raffle in limbo

EDMONTON — The Edmonton Oilers’ record-setting online 50/50 raffle from Friday with… Continue reading

Update: Possible drowning at Pigeon Lake involved man and woman from Edmonton

Bodies recovered from Pigeon Lake’s northeastern shores.

QUIZ: Do you know the truth?

In what has been described as a post-truth era, how much do you know about truth and lies?

Cast your votes for Best of Red Deer

The Advocate’s Best of Red Deer Readers’ Choice Awards are back. Community… Continue reading

‘Do our lives count for less?’: COVID-19 exposes cracks in disability aid

Karyn Keith says she isn’t asking for much. All she wants is… Continue reading

Who can dismiss the Governor General? A look at protocols and possibilities

OTTAWA — With Gov. Gen. Julie Payette finding herself the focus of… Continue reading

Liberals turn over thousands of pages on WE decision

OTTAWA — The federal Liberal government has turned over thousands of pages… Continue reading

US hits 5 million confirmed virus cases, Europe is amazed

ROME — With confirmed coronavirus cases in the U.S. hitting 5 million… Continue reading

University of Victoria and women’s rowing coach sued over alleged verbal abuse

VANCOUVER — A former member of the University of Victoria’s varsity women’s… Continue reading

Parents, teachers press Quebec to revise back-to-school plan amid COVID-19

MONTREAL — For Politimi Karounis, August is usually spent buying new backpacks,… Continue reading

Most Read