What’s the Difference Between a Time Weighted Rate of Return and a Money Weighted Rate of Return?


stephanie-hickmott  Stephanie Hickmott, CFA
  Vice President, Portfolio Manager

 

Canadian securities regulators designed Phase 2 of the Client Relationship Model (CRM2) to ensure investors receive clear and complete disclosure of the performance of their investments and fees associated with their accounts. One of the new requirements associated with CRM2 is the disclosure of annual performance reporting using the Money Weighted Rate of Return (MWRR) calculation methodology, which differs from the industry standard Time Weighted Rate of Return (TWRR) methodology.[1] Going forward, Leith Wheeler will show both the TWRR and the MWRR in year-end portfolio performance reports. Below is an explanation of how these two measures differ.

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Assessing the Risks of a Recession

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Five Year-End Tax Planning Strategies

  Karey Irwin, CFP
  Vice President, Investment Funds


As we approach the end of 2015, investors should be aware of things they can do with their portfolios to minimize their 2015 taxes. Here are five strategies to ease the burden come tax-time: Read Full Article >

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What Drives Interest Rates?

  Jon Palfrey, CFA
  Senior Vice President, Portfolio Manager

 

With interest rates at record low levels, investors ranging from long term investment funds (Pension Plans & Endowments) to individuals planning for retirement are facing a number of unique challenges.  So what drives market interest rates?

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How to Make an RRSP Decision that’s Right for Your Age

  Karey Irwin, CFP
  Vice President, Investment Funds

 

As the RRSP deadline of March 2 approaches, many investors are reviewing their portfolios and strategies, but with the Tax Free Savings Account (TFSA), investors have another place to put their funds.

In a perfect world, all investors would contribute the maximum allowance every January for their RRSP (18 per cent of your income to a maximum of $24,270 for the 2014 tax year) and TFSAs ($5,500 per year). But the high cost of living in many areas and limited resources mean that most investors need to choose where to place their hard-earned investment dollars.

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The Oil Conundrum

  Patrick Reddy, CFA
  Energy Analyst

 

In the spring of 2014, the feeling among investors was that crude oil prices would average $101 per barrel over the next year and $103 per barrel over the next 2 years.  Read Full Article >

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Why The Bank Of Canada Will Raise Rates Later And Slower Than The Fed

    Ben Homsy, CA
    Institutional Portfolio Management, Fixed Income

 

– Our interest rate outlook implies that the Bank of Canada will normalize monetary policy both later and more slowly than the US Federal Reserve.

– We expect the US Federal Reserve to start hiking rates in June 2015 versus the Bank of Canada in December 2015.  We also expect the Bank of Canada to have raised rates by 175 bps by the end of 2017, compared with 275 bps from the US Federal Reserve.

– Our view that the Bank of Canada will raise rates later and slower than the Fed is due to a combination of higher private-sector leverage, a preference for a weaker currency to boost exports, and the relatively higher exposure of Canada to downside risks to the global economy.

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Four Ways to Protect Yourself from Another Market Crash

  Jim Gilliland, CFA
  President & CEO, Head of Fixed Income                   

 

Six years ago this month, the venerable, 158-year-old investment banker Lehman Brothers collapsed and the world was plunged into the worst financial crisis since the Great Depression. As the sixth anniversary of the crash approaches, some investors are worried another one could already be around the corner. So just how have capital markets changed since then, and what have we learned?

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The Good and Bad of High-frequency Trading

    Michael Schaab, CA, CFA
    Vice President, Portfolio Manager

 

Since the publication of Michael Lewis’s new book, Flash Boys, a startling amount of attention has been given to the practice of high-frequency trading. HFT is a nuanced and highly complex part of the investing world, but despite this, the book seems to have touched a nerve with people wondering what really goes on when stocks are traded.

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Tax Tips: New CRA Requirements

  Jon Palfrey, CFA
  Senior Vice President, Portfolio Manager

 

You’ve made your RRSP and TFSA contributions. You’ve done your end-of-year tax-loss selling. You’ve contributed to registered charities. You’ve done all the right things to manage your taxes. Now that March is here, the focus shifts away from tax-savings strategies to actual tax filing.

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