Managed Money Reporter Newsletter Editors: Carl Spiess & Allan McGlade

Issue 208 July/August 2004

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Featured Articles

• Summertime Reading & Summer Holidays
• New Address for Your Investment Team - 15th Floor
• Carl Spiess TV Interviews
• Fun with Numbers: 30,000 and Retirement
• New Clarington/Jarislowsky Fraser Fund
• Recommended Site of the Month
   

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Summertime Reading & Summer Holidays

Investment Portfolio Quarterly (.pdf 460k)

The summer edition of our Investment Portfolio Quarterly is now online. This issue has information on ScotiaMcLeod's analysts views on:

• Interest Rates (rising short term so keep your bonds laddered)
• Asset allocation (60% equities, 35% bonds, 5% cash)
• Recommended Canadian and US stock holdings
• Income Trusts (be careful)
• Mutual fund fees (important, but only part of the investment return story)
• Critical Illness Insurance (well worth reviewing)

Please let us know if you have questions about these topics and how they apply to your investment portfolio.

Holiday Time - Based on the number of emails that come back to us in the summer months with vacation messages, we hope that this email finds you on, recently back from, or about to head off on vacation. Due to our holiday schedules, there will be a single July/August edition of the MFR, and we look forward to providing you with our newsletter again in September. If you have any investment questions in the meantime, our office will, of course, be staffed, and your investment team will be pleased to help with any aspect of your accounts.

New Address for Your Investment Team - 15th Floor

After 10 years on the 13th floor of Scotia Plaza, your investment team is moving up. Up to the 15th floor. Please note the new address if you are mailing us or planning a visit to our offices.

Carl Spiess TV Interviews

For the last few months, your advisor and newsletter editor Carl Spiess has been a regular financial commentator on the CP24 news channel in Toronto. Here are a few of the recent topics:

• Tax Effective Fund Investing - Windows Media Video
• Plaid Jacket, Fund Fees and Active Funds Outperform the Index - Windows Media Video
• Tax Efficient Asset Location vs. Asset Allocation - Windows Media Video

Please note this is the first time we have added streaming video to our website, so please let us know if you have any trouble viewing these. We'll be adding more of the interviews to the site in the coming months to make it easier to review our views on various topics, and to provide timely investment updates.

Fun with Numbers: 30,000 and Retirement

What does the number 30,000 represent when it comes to retirement planning? The average income for retired couples in Canada? Yes, very close to that according to Statistics Canada, but we have an even more interesting statistic.

30,000 represents the number of meals that the average retired couple will eat together during their retirement. That is a lot of meals! This demonstrates that there is a lot to think about when it comes to retirement planning. Most people focus significant time considering the process of converting RRSPs to RRIFs, signing up for government retirement benefits, and calculating retirement income.

We would be pleased to meet with you as you approach retirement, to discuss not only the important "hard" financial aspects of retirement, but to perhaps prepare you for the "soft" emotional ones, as well.  Estate planning, charitable donations, downsizing the family home and meeting retirement dreams and goals are all part of a comprehensive retirement plan. Please contact us if you would like to sit down and review your plans for retirement.

Fund News

New Clarington (Jarislowsky Fraser) Canadian Growth and Income Fund

Well respected Canadian Pension Fund Money Manager, Jarislowsky Fraser Limited (JFL), is now available to clients with a minimum of $500 to invest, through the Clarington's Canadian Growth and Income Fund. Until now, JFL's expertise has only been available to large Canadian pension fund investors.

JFL's focus has always been to provide stable, risk-adjusted returns to their investors. With over 48 years in business JFL has a proven investment philosophy and performance history based on strong in house research, extensive management interviews, low turn over of internal personnel and corporate independence with a commitment to shareholder rights.

Clarington Canadian Growth and Income Fund provides investors with a balance between capital preservation and steady growth - now with the expertise of one of Canada's most recognized and fastest growing money managers, Jarislowsky Fraser Limited. We will be watching this new balanced fund and will be reviewing it for appropriateness on our recommended list in the future.

Mutual Fund Reporter Recommended Website of the Month

This month, we recommend City TV CP24's website, www.pulse24.com where you can get timely business and other news, live streaming video of the channel's current broadcast and more.