You should study the 50-page
prospectus carefully — especially
the three pages on risk factors —
to help you answer that question.
If you don’t read or don't under-
stand the prospectus, then you
should not buy the shares.

Your personal and financiaf sit-
uation will determine whether you
should go for this made-in-and-
for-B.C. investment.

“The fund could be suitable for
unsophisticated investors as long
as they understand the risks in-
volved and have seme other sav-
ings and investments, too, for
diversification,” David Levi, the
fund’s president and chief execu-
tive officer, said in an interview.

The provincial and federal tax

credits offered to investors are the
big attraction. Levi feels they go a
long way to reduce the risks in-
volved; again, you'll have to
decide whether you agree.
@ You can claim 2 federa! tax
credit of 20% of your investment
up to a maximum credit of $700
each tax year — with a special
“doubling-up” provision in the
first two months of the year.

That means if you invest $7,000
by 2 p.m. Feb. 29, you would
claim a $700 federal tax credit for
the 1991 tax year and a $700 cred-
it for the 1992 tax year. (Note that

Michae:

DOLLARS AND SENSE

the proposed federal rule pro-
viding this credit has not yet
become law.)

@ You can claim a provincial tax
credit of 20% to a maximum of
$2,000 per tax year, to a lifetime
maximum of $10,000.

If you buy the shares by Feb.
29, you can use the credit in either
the preceding or current tax year.
If you made the $7,000 investment
mentioned above, you’d probably
apply all $1,400 of the availiable
B.C. credit to your 1991 taxes: the

Seniors’ petroglyph trip
examines ancient images

NORTH VANCOUVER Con-
tinuing Education is offering. a
day trip for seniors to visit
Gabriola Island to see the
petroglyphs that were created
by the Coast Salish Indians
more than 2000 years ago.

Participants will see images
of animals, humans and
mythological symbols that have
been incredibly well preserved,
say organizers.

The trip is scheduled to take
place on Saturday, Jan. 25

10 ‘YEAR.
RETURN |

13.8)

ATRI

from 7:45 a.m. to 7:15 p.m.
The fee is $54.

Organizers say participants
should bring their care card,
pack a lunch, wear sensible
footwear and bring a 3 ft. by 3
ft. white cloth to conduct a
petroglyph rubbing.

For more information and to
pre-register visit the Lucas
Centre at North Shore Conti-
nuing Education, 2132
Hamilton Ave. in North Van-
couver or call 986-8888.

“How do
they manage
to do it?”

MARK
MUTUAL FUNDS

Initial
$10,000
Investment

WE MANAGE.
TO OUTPERFORM.

This chart represents the performance of Trimark Canadian Fund's 10 year average annual compound rate
of return co December 31, 1991 of 13.8%. The larese 1, 3 and 5 year returns are 20.2%, 7.9% and 9.8%
repectively. These rates of return reflect distributions remvested, exclude sales charges and RRSP administra-
tion fees and have been audited by Ernst & Young, Chartered Accountants. All results are based on past
performance and are ant indicative of future results. Funds are offered by prospectus only.

CALL ME TODAY
GREG GIRDLER
(604) 669-1143 — 987-2082
GREAT PACIFIC MANAGEMENT CO. LTD.

300 - 1190 Hornby Sr.
Vancouver, B.C. V6Z 2K5

Wednesday, January 22, 1992 - North Shore News - 39

SUSINESS
Understand the risks involved in new fund

IS B.C.’S new Working Opportunity Fund going to work
for you and your money (assuming you are an employed
B.C. resident and so qualify to buy the shares)?

sooner you get your tax break, the
better.

So that $7,000 investment
would give you a $2,100 tax credit
for 1991 and a $700 break in
1992. That means you have, in ef-
fect, laid out only $4,200 of your
money to have a $7,000 invest-
ment.

But, warns the prospectus: ‘‘An
investment in shares is speculative
and appropriate only for investors
able to make a long-term invest-
ment.

“There is no guarantee that an
investment in shares will earn a
specified rate of return or any
return in the short or long run,
and investors in shares must be
prepared to lose their invest-
ment.”’

If you should have any losses,
say 10 years from now, you will
have long forgotten the tax credits
you got today.

In the first year, said Levi, the
fund will have 100% of its money
invested in T-bills and similar
money market instruments.

In the second year, about 90%
will be in the money market while
10% will be invested in operating
small to medium-sized businesses
in B.C. — the reason for the

und.

In the third year, the guaran-
teed portion of the fund drops to
80% and so on.

You are locked in for eight
years, although the money is
available (you pay an administra-
tion fee) if you become disabled,
involuntarily unemployed or
bankrupt or if you die, Levi said.
If you retire you may also redeem

your shares, but you must then ~

repay the tax credits.

“‘We hope to be able to change
the rules in the future to allow
transfers, so people could give or
sell the shares to one another dur-
ing the lock-in period,”’ he said.

The fund has no track record.
So in the early years you will be

Until January
31, you can
experience the
luxury of
Vancouver's
only downtown
resort hotel,
The Westin
Bayshore, for as
little as $80* a
night. Whether
it’s for a weekend

getaway or just a mid-
week break, you'll revel in the
comfort of a finely appointed room
and enjoy a $40*

relying on the skills of those who
are running the fund.

Federal or provincial rules could
change, affect both the tax breaks
and the viability of the fund.

Investment dealer Levi said the
shares will be sold only by stock
brokers and mutual fund agents,
“who should be able to advise
people on the suitability of this
investment for them.””

Suill, these brokers and agents

are salespeople, so be aware of
any potential sales bias.

Mike Grenby is a North
Shore-based columnist and in-
dependent financial adviser who
works with individuals; he will
answer your questions as space
allows — write to him c/o The
North Shore News, 1139 Lonsdale
Ave., North Vancouver V7M
2H4,

TRIMARK MUTUAL FUNDS
RRSPs

“How do they man

Inhial
$40,000
investment

7,
\,, $37,527

to do it?”

ATRIMARK

MUTUAL FUNDS
WE MANAGE.
To OuTPERFORM.

This chart represents the performance of Trimark Canadian Fund's 10 year
average annual compound rate of retum to October 31, F991 of 14.1%. -
The latest {, 3 and 5 year returns are 23.4%, 7.2% and 9.2% respectively.
These rates of return reflect distributions reinvested, exclude sales charges
and RRSP administration fees and have been audited by Ernst and Young
Chartered Accountants. All results are based on past performance and are
not indicative of future results. Funds are offered by prospectus only.

CALL US TODAY:

STEVE PHILLIPS
844-5723 © (Res.) 985-1270

JOE LAPPAN, CFP
844-5724 © (Res.) 980-4099

Investment advisors to Canadian enterprise and enterprising Canadians
500 — 1066 West Hastings Street, Vancouver, B.C. V6C 3E8

8 food and

i beverage credit
each day of
your stay,
including
world-famous

Trader Vic's.

To discover
just how
accommodating
we can be, call
our toll-free number,

800-228-3000 or the hotel direct at
(604) 682-3377 and ask for the
“80/40 Rare”.

*Singte or double uccupancy. Maximum 2 nights stay. Taxes additional. Based on space availability and not valid for groups,
other special discounts, Westin Premier nor Value Plus. No cash refund on any unused portion of the food & beverage credit.

THE WESTIN BAYSHORE

Vancouver