* Market wrap: Stocks edge up on the week.
* Mackenzie launches new global bond fund and four new USD funds.
* Market wrap: Stocks edge up on the week. The main stock indexes ended the week with modest gains, despite a selloff on Friday after U.S. Federal Reserve Board Chair Janet Yellen indicated in a speech that the central bank is still likely to raise its benchmark interest rate later this year. Toronto’s S&P/TSX Composite Index advanced 0.6% on the week, while the S&P 500 Composite Index edged up 0.2%.
Q – My husband and I are a classic “sandwich generation” couple. We have two kids in university, a mortgage on the house, and we’re also taking on increasing responsibility for our aging parents. We both have good jobs, and we are doing okay with our investments, but our concern is that we may not have enough money left over for us to retire on after we’ve taken care of everyone else. Do you have any suggestions? – Maureen S., London, Ontario
Every so often, the Canada Revenue Agency targets certain tax structures for special attention. A few years ago it was family discretionary trusts that were subject to special audits. While that cycle has passed – for now – it doesn’t mean those with family trusts should let their guard down when dealing with your trust’s compliance each year. So I thought a refresher on the do’s and don’ts of administering family trusts might be in order.
This is not your father’s short-term bond fund. While more traditional short-term offerings focus on high-quality, investment-grade, short-term bonds, theNorrep Short Term Income Fund invests mainly in short-term high-yield bonds and senior loans. At the end of April it held 61.2% in high yield bonds, 28.2% in senior loans, 3.5% in investment-grade bonds, and 7.1% in cash. That makes for higher returns, but also more volatility.
If you own a lot of preferred shares in your income portfolio, you’re probably feeling somewhat confused at this stage. They’ve been zigging when they normally would be zagging. As of the close of trading on May 15, the S&P/TSX Preferred Share Index was down 6.4% for the year. What’s going on?