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Safety calls: Income trusts rated
As Corporate Canada's love affair with income trusts deepens -- Telus Corp., come on down -- a Toronto brokerage has unveiled a rating system that it claims can dramatically slash investors' risk of buying a bum steer... (The Globe and Mail - 9/14/2006)
Trusts overstate payout ability: report
A study of the income trust sector has found a pattern of accounting in which trusts overstate their ability to pay the cash distributions that have made them so wildly popular with investors... (The Globe and Mail - 3/10/2006)
S&P slams income trust reports
Just when you thought it was safe to dive back into income trusts, the firm responsible for adding them to the SandP/TSX composite index has launched a slashing attack on how the popular investment vehicles calculate and... (The Globe and Mail - 1/17/2006)
Trust debate isn't over, experts warn
Canada's income trust industry should brace for challenges to its tax-efficient status, a panel of prominent real estate investors warned yesterday... (The Globe and Mail - 12/1/2005)
Income trusts still the better tax deal
This past summer, my good friend Cary and I went on our annual camping trip to Algonquin park... (The Globe and Mail - 11/26/2005)
Regaining trusts
A who's who of the Canadian trust sector weighs in on Ottawa's decision... (The Globe and Mail - 11/25/2005)
Goodale cuts dividend tax, wavers on trust reform
Proposed trust tax pulled late in day... (The Globe and Mail - 11/24/2005)
Election won't delay trust move
Finance Minister Ralph Goodale is promising that a Christmas federal election campaign would not delay him from announcing a new regime for income trusts... (The Globe and Mail - 11/16/2005)
Red flags can guide investors through income trust jungle
One of the easiest ways to lose money in the Canadian equity market is to own a trust that cuts its distribution... (The Globe and Mail - 11/11/2005)
Trusts draw a line in the sand
Call it the Calgary Underground. After a month of watching more than $23-billion evaporate from their market value, Canada's income trusts are fighting back... (The Globe and Mail - 10/31/2005)
Taxing trusts could cut value by 30%: report
A decision by Ottawa to tax income trusts and limited partnerships at the same rate as regular companies could slash the market value of Canadian business trusts by as much as 30 per cent, according to an RBC Dominion Securities report... (The Globe and Mail - 10/12/2005)
S&P to proceed with trust inclusion
Standard & Poor's decides to not change current schedule to include income trusts to benchmark... (The Globe and Mail - 10/11/2005)
For Bay Street and Parliament, income trusts a taxing problem
It's about 450 kilometres from Bay Street to Parliament Hill, but when it comes to taxes, it might as well be 45,000... (The Globe and Mail - 10/11/2005)
How to pick a trust that will survive the tax man
Rise up, all you discouraged income trust investors. There's quality in the trust sector and it will transcend whatever change comes from the federal government's review of trusts. To find it, let's get back to basics... (The Globe and Mail - 10/1/2005)
REITs told to distance selves from trust storm
Canada's real estate community needs to set itself apart from other types of income trusts or risk becoming ''collateral damage'' in any effort by Ottawa to stem the flow of trust conversions, industry players warned yesterday... (The Globe and Mail - 9/28/2005)
Goodale says public appears to back income trusts move
Finance Minister Ralph Goodale says public opinion appears to favour Ottawa's recent moves on income trusts... (The Globe and Mail - 9/28/2005)
Income trust sector in disarray
The income trust juggernaut is grinding to a halt. Ottawa's decision last week to step into the trust sector... (The Globe and Mail - 9/27/2005)
In trusts we trust - flurry of news stories can't be wrong
If you thought we in the media were going a trifle nutty over income trusts, you might just be right. If one believes a newsletter this week from RBC Dominion Securities... (The Globe and Mail - 9/24/2005)
Ottawa tries to resolve income trust confusion
Senior federal cabinet ministers moved to clarify Ottawa's motives for considering a tax clampdown on income trusts in the wake of market turmoil over possible changes that may come as early as the next budget... (The Globe and Mail - 9/22/2005)
Behind Ottawa's ‘stronger message'
Bay Street didn't get the message when Ottawa first signalled it may have to clamp down on income trusts, so the Liberal government turned up the volume this week, federal officials say... (The Globe and Mail - 9/20/2005)
Ottawa throws up roadblock to income trusts
The federal government is postponing advance federal tax rulings on new income trusts, effectively freezing offerings at least through the rest of this year... (The Globe and Mail - 9/19/2005)
Investor pushing TSX Group to turn trust
One of TSX Group Inc.'s largest investors wants the company to become an income trust, and says shareholders may have to force the issue if the board disagrees with the idea... (The Globe and Mail - 9/15/2005)
Torstar not seeking trust status - but it leaves the door open
Torstar Corp. has no plans to spin off its newspapers into an income trust and has not hired a financial adviser to explore that option, but... (The Globe and Mail - 9/15/2005)
Wheels in motion this week to add trusts to TSX index
Standard and Poor's begins a six-month transition this week toward making income trusts a full-fledged component of the SandP/TSX composite index by adding 68 trusts to a new provisional index... (The Globe and Mail - 9/14/2005)
No trust spinoff seen for Sun Media
Quebecor Media Inc. is not interested in following the lead of CanWest Global Communications Corp. by turning its Sun Media Corp. newspaper group into an income trust... (The Globe and Mail - 9/14/2005)
TSX gets income trust treatment
Speculation that the TSX Group Inc. might be converted into an income trust has to a large extent already been reflected in the share price, analysts say... (The Globe and Mail - 9/14/2005)
Building a trust worthy strategy
If you're an income trust investor, the last words you want to hear the company say is ''we're cutting distributions.''In some ways, it's a lot like owning a stock where the dividend has been unexpectedly lowered... (The Globe and Mail - 6/29/2005)
Feasting on beer, pizza and points
With more than 200 income trusts listed on the Toronto Stock Exchange, more than double the number three years ago, you would think that the appetite for these securities would have abated... (The Globe and Mail - 6/29/2005)
Paving the way for a fair exchange
When income trusts are folded into the Standard and Poor's/TSX composite index next March, it will mark the index's most important change since it evolved from the old TSE 300 in 2002... (The Globe and Mail - 6/29/2005)
Unit versus share: What's the big deal? 25 per cent
Even though stocks and income trusts will soon be nuzzling side by side on the SandP/TSX composite index, they are odd bedfellows when it comes to structure and taxes... (The Globe and Mail - 6/29/2005)
Report on income trusts: Business
The business trust sector is the catch-all of the income trust world: from peat moss harvesters to food and household product manufacturers, from restaurants to garbage collectors... (The Globe and Mail - 6/29/2005)
Report on income trusts: Oil and Gas
The so-called royalty trust sector is the riskiest -- and potentially most rewarding -- part of the income trust market. That's because more than 80 per cent of the oil and gas trust sector's performance can be explained by commodity prices... (The Globe and Mail - 6/29/2005)
Report on income trusts: Power and pipelines
Power and pipeline trusts are considered the most bond-like, or interest-rate sensitive, of all the income trusts. Like bonds, power and pipeline trusts fall in price when interest rates go up... (The Globe and Mail - 6/29/2005)
Report on income trusts: Real estate
Real estate investment trusts (REITs) are some of the most volatile in the trust sector, because of their sensitivity to interest rates and the sometimes conflicting swings in property values... (The Globe and Mail - 6/29/2005)
The siren call of the energy trust
Hank Swartout just couldn't help himself. The guy who spent the past two decades building up Precision Drilling Corp. into a global drilling powerhouse pulled the plug this week, announcing a plan to sell off the technology and international divisions and confirming in an interview that the remaining domestic operations will be spun off into an income trust... (The Globe and Mail - 6/11/2005)
Trusts join S&P/TSX in March
Standard & Poor's said income trusts will be included in Canada's benchmark index, at full-float adjusted weight, by March, 2006... (The Globe and Mail - 5/18/2005)
S&P nears guidelines for adding trusts to index
Standard and Poor's Corp. is within days of outlining its plans for adding income trusts to Canada's benchmark SandP/TSX composite index, officials say. ''We're very close to having an announcement,'' said Steve Rive... (The Globe and Mail - 5/11/2005)
Closed-end funds: Outside the mainstream
Dare to be different - check out a closed-end fund today. Closed-end funds are the not-ready-for-prime-time cousin of the mutual fund... (The Globe and Mail - 4/23/2005)
Income trust market still has lots to offer
Fund manager Kevin Hall isn't surprised by recent declines in the income trust market. He and his colleagues at Guardian Capital LP thought valuations were getting expensive and had boosted their cash positions... (The Globe and Mail - 4/1/2005)
Rising interest rates halt long upward march of income trusts
Watch out for falling income trusts.After going nowhere but up for most of the past year, income trusts are revealing their dark side to investors who have made them one of the market's hottest sectors: ... (The Globe and Mail - 3/30/2005)
Energy Trusts in Trouble?
Oil and gas income trusts have been the place to be the last few years. Energy trusts posted a total return of 36 per cent a year between 2000 and 2004 and have already returned 5 per cent thus far in 2005, helped by what Clément Gignac... (The Globe and Mail - 3/28/2005)
Income trust investors could see unit prices fall
The interest rate watch in Canada continues, and it is only a matter of time before rates are expected to climb, so investors in interest-sensitive securities like income trusts could see unit prices decline... (The Globe and Mail - 3/21/2005)
S&P to add trusts to index
Standard & Poor's said Wednesday it will add income trusts to Canada's benchmark stock index, the S&P/TSX composite, by the middle of the year. "As income trusts have become a significant component of retail and institutional investing activity, Standard & Poor's is ensuring the benchmark index represents the broadest interests of our various... (The Globe and Mail - 1/26/2005)
Lacking clarity from Ottawa, CI Fund abandons trust idea
CI Fund Management Inc. has ruled out the prospect of turning the fund company into an income trust, citing legislative uncertainty from the federal government... (The Globe and Mail - 11/18/2004)
What's the upside if Penn West goes trust route?
The slow-motion investment story of the year in the oil patch has to be the proposed conversion of Penn West Petroleum Ltd. into an energy trust... (The Globe and Mail - 11/12/2004)
Public Storage considers trust route
Public Storage Canadian Properties, a limited partnership that owns self-storage facilities, is exploring the possibility of becoming an income trust.The company said yesterday the board of directors of Canadian Mini-Warehouse Properties... (The Globe and Mail - 11/12/2004)
Do you know what your trust's hedging policy is?
We're on constant watch for winners and losers these days as the loonie keeps rising. Our latest tip comes from CIBC World Markets analyst Alice Sun Dunning who went out and surveyed 106 income trusts to get a sense of the percentage of sales... (The Globe and Mail - 10/20/2004)
Will energy trusts lose their steam?
Energy trusts have never been more popular, riding a wave of money supplied by eager investors wanting to get a piece of juicy distributions, all supported by ever-higher commodity prices... (The Globe and Mail - 10/18/2004)
Cap fought on foreign ownership
The income trust sector is fighting a federal government proposal to cap foreign ownership of individual trusts, a limit that, if violated, would mean losing beneficial tax status... (The Globe and Mail - 10/18/2004)
Iowa Tel dings plan to export income trusts
Canadian investment banks' ambitious plans to export income trusts to the U.S. market have suffered another setback with rural phone company Iowa Telecom's decision to drop the trust structure in favour of a traditional stock offering... (The Globe and Mail - 10/5/2004)
Income trusts to face more scrutiny, panel told
Income trusts can expect to get a lot more attention from the Canadian Coalition for Good Governance once the issue of unitholder liability is resolved in Ontario, Michael Wilson told a Toronto conference yesterday... (The Globe and Mail - 9/29/2004)
Analysis of Proposed Budgetary Tax Changes Related to Non-Resident Taxation and the Definition of Taxable Canadian Property
In March 2004, HLB Decision Economics released the study "The Risk Analysis of Tax Revenue Implications of Income Trusts"... (Canadian Association of Income Funds - 9/22/2004)
Low-risk products driving the industry
If the mutual fund industry is in a state of critical recovery, it's dividend and income funds that are keeping the patient on life support. Dividend and income funds... (The Globe and Mail - 9/20/2004)
Who can you trust on trusts?
A struggling income trust is double trouble for investors who own it. How do you avoid this cruel investing lesson... (The Globe and Mail - 9/6/2004)
Trust mania cools, but market still has legs, experts agree
The market's love affair with income trusts may have cooled in recent months, but the thrill is not entirely gone, industry watchers agree... (The Globe and Mail - 8/26/2004)
Energy, income trusts help fuel financings early in quarter
Canada's capital markets hummed along early in the third quarter, raising about $9.5-billion in debt and equity as investors snapped up an assortment of energy and income trusts... (The Globe and Mail - 8/19/2004)
U.S. investors have no appetite for American Seafoods IPO
Looks like American investors don't want fish in their diet. To the horror of investment bankers on both sides of the border... (The Globe and Mail - 8/19/2004)
Ontario dismisses LCBO speculation
Ontario Finance Minister Greg Sorbara said there was no truth to a report that the government is considering converting its liquor-retailing business into an income trust.... (The Globe and Mail - 7/27/2004)
Ontario considers LCBO trust
The Ontario provincial government is considering an initial public offering for its liquor-retailing monopoly in a deal that may value the business at more than $10-billion, according to media reports... (The Globe and Mail - 7/27/2004)