eine wet ot 1 agi unde May 15,1994-= North’ Shore News 7 N ew software to assess regulations AT A joint press conference held recently, Treasury Board president Art Eggleton and chairman of the Canadian Manufacturers' Associa- tion Ron Morrison, announced the Business Impact Test (BIT): a new software package that assesses how government regulations affect busi- nesses. . “This new software is a power- ful tool to help us compete in the international marketplace,” said Morrison. “The BIT is an example of how government and Canadian companies can work together to win in a rapidly changing, global economy.” ~ The CMA, the Treasury Board of Canada and Industry Canada developed the software in close _ consultation with industry. It is designed to-help governments “ understand and assess the potential impact of proposed regulations on the private sector.The BIT looks at tions, as well as the effect the pro- posals may have on the way firms Operate, organize and innovate. It allows companies to give their views early in the process when a regulation is being developed. It can even help businesses and gov- ernment determine other ways to serve the public interest that may not involve regulation at all. Mr. Eggleton, who is the minis- ter in charge of the regulatory process, said the federal govern- ment will use the program to draw up regulatory policies that attract investment and encourage industri- al growth. Industry Minister John Manley, who addressed the CMA this morn- ing, is pleased that the BIT will be another means of strengthening the partnership of industry and govern- ment in working together to improve the regulatory environ- ment in Canada. The BIT software + 4.5 L 32 valve V8, 278 horsepower * Leather & wood appointed interior * Dual air bags, ABS, keyless remote entry system, patented multi-link suspension & traction control » Balance of 4 Year/100,000 km basic limited warranty, 24 hour roadside. assistance, free service loan car.** = ® Perawede, Sane : -_ | 1993 INFINITI TI y30t | ‘Beware mutual funds | atl q -\ oweeen on” +30 L 24 valve V6, 210 horsepower. ’ the direct costs of proposed regula- ° is available at $300 from the CMA. INVESTORS SHOULD pay. particular attention to their mutual fund investments. In the current market, what you see may be more than what yon get. “By ‘Mark Serbinski, CA- ~ Contributing Writer Making a mutual fund invest- cment:can.be as easy as picking up “the telephone, but, as any char- ‘tered-accountant will tell you, -making, the investment that’s right > for you.can, and should be, a much “more involved decision. The mutua) fund concept is . straightforward: A number of “investors pool their money togeth- -er and-a. professional portfolio manager makes the investment decisions for that pool of funds. -The value of your investment - depends on how much you have ~invested-and the current value of “the: pool of investments made. by : ‘Each’ fund has quite specific investment goals and generally, restricts its investment activities to ." a specific range of securities. “oo. Thus, you-can choose the type » of fund best suited to your needs *— one that, for example, invests in ‘stocks or one. that holds mort- ' gages. This also lets you determine: the amount of risk you are willing - to take (the mortgage fund would generally be less risky than the stock fund); the return on your "investment you would expect; how any income earned by the fund and distributed to you will be taxed (interest, dividends or capital gains); and whether the fund is eli- gible for your RRSP (registered ~ yetirement savings plan). -Of.course, not every fund is ‘created equal, and the advertising for each fund is not always compa- table, despite certain rules to _ which the funds subscribe. ~ The following points should be : borne in mind when investing in mutual funds: -* Mutual funds typically use the most favourable reporting period to advertise their past growth.” _ One particular fund shows a $10,000 investment made in 1954 now worth about $1.2-million. Others focus on growth over the "past year during which Canadian “stock markets have performed extremely well.” ' * Some. funds quote rates of return over'a period during which time “manager's fees were reduced to “entice investment..The rate of return drops, of course, when these fees are reinstituted. * Returns on mutual. funds include “paper gains.” For example, if interest rates decline, the current value of a bond increases. This increase is reflected in the current year’s rate of return of the fund, distorting the yield upward. * If the yield on a fund appears too” good to be true, it probably is. Over. the long term, the perfor- mance for most mutual funds mir- ’ sors that of the markets. * Prior performance is no indicator of how the fund will perform in - the future after you have bought in, Markets go up and down: The Toronto Stock Market has been rising for a couple of years and is probably due to cool off. .* Beware of taking advice from someone who ears a commission on the amount that you invest, in’ mutual funds. He or she clearly has a conflict. _of interest. Look for impartial advice and analysis of your invest- ‘ment needs, ; " Moneycare is ‘general fi financial advice by Canada’s chartered accountants. Mark Serbinski is a managing partner of Serbinski & Partners with a special interest in tax and investment planning. REGENCY INFINITL (NORTH SHORE) 1148 Marine Dr., North Vancouver 985-0339 * Patented independent multi-link suspension, «| dual air bags, ABS, 4 wheel ; steering & limited slip’-| . Balance of 4 Year/ 100, 000. km basic - Exceptional value $3 8,600 limited warranty, 24 hour. roadside assistance, free service loan car , * Smart people read the fine print and wear their seat belts.” Limited lime rate of $755/month for 48 months, closed-end -.. lease on a 1994 Q45, $545/month for 48 months closed-end ©”. lease on a 1993 J30t 0.A. c. Offer good fora limited time * only. Taxes extra, * ** subject to availability. G20 + J30- @as | created by Nissan © You may know what’: going on in Ottawa, but do you know whats going'on in your own backyard? The North Shore News delivers everything you need to know about the local scene to stay current and up to date.