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  • August 3, 2007

The fate of the Canadian dollar will play a major role in determining our returns from Canadian trusts. I'm bullish, as is this month's guest author, futures pro George Kleinman. Read More

A year ago, the Canadian trust market still had a few disturbing resemblances to Vancouver penny stocks in the 1980s. As I wrote in the August 2006 issue, many trusts were set up for one thing: to carry a big enough yield long enough to snare investor dollars and pay off the original backers and underwriters. Read More

Natural gas prices have softened up again, just weeks after their recovery looked set. The primary culprit is the mild start to the summer cooling season, coupled with better timing on the part of power utilities for keeping their cheaper, baseload coal and nuclear plants on line during months of peak demand. Read More

The rally that carried many Canadian trusts back to pre-Halloween 2006 levels officially ground to a halt last month. The key questions now are what it will take to get it back on track and when that’s likely to happen. Read More

Only in the Canadian income trust universe is a 10 percent-plus yield not a warning of dire risks. In fact, in this fear-drenched market, you can scoop up extremely high-quality businesses throwing off even higher distributions. Read More

Any advisor labeling anything but the shortest-duration, government-backed debt a safe haven after the onslaught of uncertainty unleashed by last week’s action in the US equity markets is the financial industry equivalent of Chip Diller plaintively wailing, "All is well...," as the citizens of Faber rush the homecoming parade route in a Delta-induced frenzy. Read More

Many of you with young children or grandchildren will head out to your local orchard soon, as the leaves begin to change, for some foliage-watching, hayride-taking and apple-picking. (And yes, it’s a little soon to speak of fall rituals while still so deep in summer.) Read More

Shiningbank Income Fund is now part of PrimeWest Income Trust, as the merger received final ratification by unitholders July 10. News stories emphasized the importance of tax pools for post-2011 dividend viability. Read More

Canadian royalty and income trusts generated superlative returns during what was clearly a golden age for the tax-efficient, investor-friendly business structure. Read More

Macquarie's recent takeover showcases how buyouts can ultimately produce profitable payoffs, despite the market's volatility. Even the most volatile trusts in the Portfolios require a little patience before they expand.   Read More

Last month, we witnessed the first management buyout of a Canadian trust: CCS Income Trust (CCR.UN, CCRUF). Read More

Two new trusts are being added to the Dividend Watch List because of operating issues, Rydex has issued a Canadian dollar ETF, and Bay Street has downgraded several trusts that I think are still worth buying. Read More

Between now and 2011, Canadian trusts are expected to continue yielding high returns. Avoiding 2011 taxation on both sides of the border and maximizing a trust's ability to pay big distributions can be as easy as LP conversion. Read More

The Tax Fairness Plan, Finance Minister Jim Flaherty’s levy on income trust distributions at the entity level, now has the force of law. Read More

It’s Canada’s institute of “sober second thought,” an unelected body of Parliament, the purpose of which is to alert the elected House of Commons to weaknesses or flaws in the legislation it examines. Read More

Canada’s minority government rolled out a package of environment proposals April 26, delivering on a promise Prime Minister Stephen Harper made in his crown speech opening the current session of Parliament last October. Read More