Business New mutual fund patte 21 - Sunday, March 1, 1987 - North Shore News rned for the ‘rich and cautious’ MONEY IS on the minds of many. This time of year especially. By MICHAT™. BECKER Wews Reporter Choices abound, with an in- vestment opportunity designed to fit every income and every in- vestor’s temperament. Heat the blood? Play the stocks and run with the ticker for a quick cash-in. Give the heart a rest? Ride out the turmoil with fixed income securities. West Vancouver resident lan Mottershead, C.F.A., B.A., a partner with Vancouver-based Phillips, Hager & North Ltd., manages the Vintage Fund, 2 Sales hit $7120m From page 20 A minimal management struc- ture and assimilated years of commodities expertise fill out the corporate structure. ‘The usual ingredients of hard work, a good business plan, budgetary austerity, and the initial business opportunity are essen- tial,’’ Prentice says, but adds, “adherence to the highest stan- dards of-honesty, business and personal integrity, and a belief in one’s cause are equally important to our business commitment.” . According to Prentice, Con- timex is the only 100 per cent Ca- nadian-owned company competing for CIDA tenders in all 27 CIDA client countries and is helping Ca- nadian exporters do business more effectively in an increasingly com- petitive international macketplace. The Canadian countertrade side of the business has been developed aggressively by Contimex in the past year and is beginning to pay off for Canadian producers look- ing to deal, and cash poor lesser developed countries eager for trading opportunities. In an industry where Prentice says 10 to 15 per. cent trading house commissions are not un- common, Contimex works in- house with its clients for a % to 2% per cent royalty fee. Spousal RRSPs a sound deal From page 20 If you will reach age 71 this year and have not yet matured your RRSP, don’t overlook the new Registered Retirement Income Fund (RRIF) rules. Although an annuity is still a good idea for some people, the new; RRIF rules provide a very flexible alternative for those people for whom an an- nuity would not be suitable. Remember, ioo, that you can cull contribute to an RRSP for a spouse under the age of 71 even though you may be over 71 yourself. This is a very useful way for pensioners to create tax-free pension income for a lower-income spouse. If you have no other earn- ed income, you can still contribute 20 per cent of your pension income to a spousal RRSP. Until 1990 you may also contribute up to 100 per cent of your pension income in- cluding OAS and CPP to your own RRSP. Reprints of any articles in this serie? can be obtained , 925-3101. mutual fund positioned for a prof- itable, long-haul investment. Mottershead and six partners initiated the fund in April of last year with a $250,000 startup. “At this point after 10 months and in the early stages of market- ing, assets are up to $2 million. In terms of value per share, it’s up 23 per cent compared with a 17 per cent stock market increase for the same period,’’ said Mottershead. Investment criteria for the Vin- tage Fund are patterned after the lifestyles of the rich and cautious. Mottershead examined how the traditionally wealthy built their wealth over the years. ‘‘It wasn’t through get-rich schemes. A predominant method was to invest in a handful of quality companies and hold them for a long time.”’ The fund is 90 per cent invested in Canadian securities and up to 10 per cent in U.S. or other foreign securities. Higher profile com- . panies included in the mutual fund portfolio are Laidlaw Transporta- tions, International Thomson, Uniforms Galore Newest in uniforms nurses, dental assistants and receptionists special orders taken, sizes 5-241h | She QRrfect Gluing Bemypler 124 West 16th Street North Van 985-0555 : qm) M1 MORE THAN JUST A BRIDAL SHOP i i! me | VINTAGE FUND manager Ian Mottershead...assets up $2 million. Maclean Hunter and Canadian Marconi. “‘The companies have to have a record of producing high returns for their shareholders while main- taining a good balance sheet,’ ex- GERTIE TODD I N i" Ay Fi a car when Brenda is older. Joan Cripps Circulation Dept. 986-1337 Brenda Ertman Our star carrier this week is Brenda Ertman. The Ertman family has been delivering the News for 10 years and the route Brenda does involves delivering along a stretch of the Dollarton Highway that is quite dangerous. Her parents usually drive and help with the papers. Brenda is 13 years old, a grade 8 student at Seycove School, her favorite subject is French and she plays basketball with the school. Brenda is a Baton Twirler for the Rangerettes and also enters com- petitiows and has won ribbons and trophies Earmings from the News are being saved, with the hope of buying We enjoyed meeting Brenda and for being our star this week she received, complimentary movie passes, a North Shore News baseball cap and a special thanks for an excellent job. 1139 Lonsdale Ave., N.V. THR VONCE OF matytH AND WEST VANCOUVER north shore news SUNDAY + WEDNESDAY - RIDAY plained Mottershead. ‘‘Many are cash rich. Companies in the high- tisk, embryonic stage or those ex- periencing limited growth rates are generally ignored."’ Phillips, Hager & North developed the fund in response to perceived market needs, more specifically, the firm saw a lot of private money traditionally in- vested in fixed income securities looking for a new home as jnterest rates began plummeting three years ago. Total management fee for the fund runs at 1% per cent of the vaiue of the assets. The minimal individual invest- ment into the fund is $2,000. Mottershead brings decades of experience as a specialist in the analysis of Canadian equities to his position as Vintage Fund manager. Since its inception in 1964, Phillips, Hager & North has grown to manage personal monies and pension funds totalling in value in excess of $3 billion. Ardagh 985-4366 Personal Injury Hunter Barristers & Solicitors #300-1401 Lonsdale Ave., North Vancouver Free initial Consultation Income tax tips Question: [ am