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Investing as an undergraduate




To most U of T students, the thought of finding unused money to start investing with might seem impossible, but in fact it doesn’t take a lot to get started.

“If you have money lying around in your bank account that you’re not using now, then you should open an account tomorrow,” said Andrew Harrison, the co-president of the Toronto Student Investment Council.

According to Harrison, even if students are not in a position to invest, understanding how investments work is something students should know, given that most retirement savings are in the form of stocks.

“I find that many undergrads are intimidated by investing because it sounds too risky and unknown, but there are plenty of great resources out geared towards beginners,” wrote Caroline Tolton, a second-year majoring in international relations and health studies, in an email to The Varsity.

Joining pre-analyst programs at the Rational Capital Investment Fund (RCIF) or the general membership program at the Toronto Student Investment Counsel can also be useful first steps. As for gaining information, online resources like The Balance, Investopedia, and Khan Academy offer beginner-friendly resources. Tolton noted that she has family and friends with investing experience who are able to answer her questions.

However, Spencer Caul, President of the RCIF, also told The Varsity that investing your own money is the best way to learn.

First steps to investing

For those who lack the confidence or funds to begin investing, Harrison suggested opening a virtual portfolio. Virtual portfolios that are operated through various websites let individuals simulate investing without the financial risk.

“It is really nice to start investing young, as you can build up experience over time. Investing can be a great way for undergraduates to work towards their financial goals—whether they would like to save up for a trip, grad school, or an apartment,” wrote Tolton.

Harrison suggests opening a tax-free savings account (TFSA) as a first step. The government usually taxes investment earnings, but the TFSA allows individuals to save $6,000 per year without it being taxed.

Those over 18 years of age who have a valid Social Insurance Number can open TFSAs with a Canadian financial institution, credit union, or insurance issuer. Otherwise, Caul noted you can also open investment accounts through your local bank, or platforms such as QuestTrade, Wealthsimple, Interactive Brokers, or Robinhood.

Investing smart is a learned experience. When choosing stocks, Caul cautioned against jumping on certain trends or companies. Instead, he suggested discussing your ideas with friends to pinpoint industries that you might have missed or that you disagree upon.

“If you cannot understand technology and computers to save your life, then [investing in a] high tech firm is probably not ideal,” said Caul.

That said, Harrison and Caul recommend investing in index funds, a form of mutual fund that pools various stocks and investments, are recommended for those with little time for research, low risk tolerance, or low funds. Index funds can be bought like a company stock via a TFSA or an investment account.

“It would diversify your money,” Harrison said. “They are typically low cost with low transaction fees, and you are almost guaranteed a very solid return.”

Investing requires time and patience

It is important to recognize your risk tolerance, invest accordingly, and be patient. On potential losses, Harrison added that in the grand scheme of an individual’s lifetime earning, a few hundred dollars might not be a significant loss.

Caul noted that time and compounding will become your friends in investing.

“Don’t be worried if the stocks go down in value from time to time,” Tolton wrote. “When I first started I would check the market every day and would worry if the price went down even a few cents. But it’s generally better to focus on bigger trends over time, and not the everyday fluctuations of the market.”

“Just know that the experience and what you’re learning is much more valuable than the amount of money that you might lose,” said Harrison.

Source: – Varsity

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Enforcement Notice – Decision – IIROC Sanctions Montréal Investment Advisor Naghmeh Sabet – Canada NewsWire



MONTRÉAL, Jan. 22, 2021 /CNW/ – On January 19, 2021, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Naghmeh Sabet.

Mrs. Sabet admitted that she recommended the purchase and holding of securities that were unsuitable for a client, pursuant to this client’s investment objectives, and that she engaged in personal financial dealings with a client by accepting the offer of a short-term loan by the client for an imminent real estate transaction.

Specifically, Mrs. Sabet admitted to the following violations:

(a) In March and April 2016, the Respondent recommended the purchase and holding of securities that were unsuitable for a client, pursuant to this client’s investment objectives, thus contravening IIROC Dealer Member Rule 1300.1(q);

(b) In December 2015, the Respondent engaged in personal financial dealings with a client by accepting the offer of a short-term loan proposed by the client for an imminent real estate transaction, thus contravening IIROC Dealer Member Rule 43.

Mrs. Sabet agreed to the following penalties:

a) An aggregate fine in the amount of $25,000, as follows:

  • a $10,000 fine for Count 1;
  • a $15,000 fine for Count 2.

b) The obligation to pass the Conduct and Practices Handbook Course exam, within sixty (60) days following acceptance of this Settlement Agreement by the Hearing Panel.

c) Costs in the amount of $2,000 payable to IIROC.

The Settlement Agreement is available at:            

IIROC formally initiated the investigation into Mrs. Sabet’s conduct in August 2017. The alleged contraventions occurred while Mrs. Sabet was a registered representative with the Montréal branch of Scotia Capital Inc., an IIROC-regulated firm. Mrs. Sabet is still employed with Scotia Capital Inc.

Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.

*  *  *

IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada’s debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 175 Canadian investment dealer firms of varying sizes and business models, and their more than 30,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.

IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – General News

For further information: Enforcement Contact: Claudyne Bienvenu, Vice-President, Québec and Atlantic, 514 878-2854, [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]

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European start-ups are attracting record levels of investment – Innovation Origins



Investments in European start-ups rose to record levels during the final three months of 2020. In the fourth quarter of last year, a total of US$14.3 billion was invested in European start-ups. This was revealed in a report brought out by KPMG.

Seventy percent growth

This figure corresponds to an increase of seventy per cent compared to the last three months of 2019. It also marks the highest quarterly increase in 2020, although the other three have also fared extremely well. Total investment in European start-ups reached US$49 billion last year, that was US$7 billion less in 2019.

However, emerging start-ups and even companies that are already generating a certain amount of turnover are struggling to raise funding.”
Karina Kuperus, KPMG

The figures highlight a number of developments. While investments were up, the number of deals made fell sharply, from around 7,500 in 2019 to just over 6,000 in 2020. “Investors have focused on technology-driven solutions and on start-ups that are highly capable of responding to the changing needs of employees and customers. This means that early-stage start-ups and even companies that are already generating some revenue experience great difficulties in securing funding,” says Karina Kuperus, a partner in KPMG’s Emerging Giants advisory group.

Late-stage start-ups are most in demand

Financiers have been particularly interested in late-stage start-ups that have a proven business model. In a number of sectors, including fintech, logistics technology and educational technology, this has led to consistently higher valuations. In general, technology, healthcare and biotechnology are popular with investors.

There is no shortage of funds. Due to the availability of a lot of ‘unused money’ among investors ( as a result of low interest rates, among other factors), there is a lot of competition. Although this is mainly concentrated on promising start-ups in their later stages. For example, during the last three months of 2020, a number of companies managed to attract more than US$100 million, including Germany’s ATAI Life Sciences (US$125 million).

Investments are also set to increase in 2021

Globally, there has also been an appetite for funding start-ups. KPMG tallies a total of US$300 billion that has been invested in start-ups around the world. That is US$18 billion more than in 2019. The tendency towards a decline in the number of deals also applies beyond Europe’s borders. By the way, the United States accounted for more than half of all global investments last year.

The volume of investments is unlikely to drop in 2021. “The pandemic has also revealed the pressing need to modernise key aspects of the existing healthcare system and to harness new technologies, such as artificial intelligence in the development of new medicines,” Kuperus stated.

More information can be found in the latest version of Venture Pulse, KPMG’s report on their research into global investments in start-ups. 

Atomico, another European tech investment company, also recently came to a similar conclusion.

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Tangerine Investment Fund Recognized for Fundata Fundgrade A+® Award – Canada NewsWire



Tangerine has a range of investment options, including Global ETF Portfolios  

TORONTO, Jan. 22, 2021 /CNW/ – Tangerine Investments is pleased to have yet another Fundata FundGrade A+® Award under their belt, with recognition for the performance of the Tangerine Balanced Income Portfolio in 2020.

“We’re committed to helping our Clients invest their money and realize their financial goals in a simple and convenient way,” said Ramy Dimitry, Chief Revenue Officer of Tangerine Bank. “We’ve been helping Canadians invest online for more than a decade and awards like this one showcase how we are ensuring our Clients’ money is working hard for them.”

The FundGrade A+® Awards are annual awards given to Canadian investment funds that have been consistent FundGrade A-Grade performers, with around 6 per cent of investment fund products available in Canada receiving the coveted FundGrade A+® rating.  

Tangerine Investment Funds make investing easy by providing Clients with a simple, low-cost and hassle-free way to reach their long-term financial goals through an indexing strategy. 

Tangerine expands investment options with Global ETF Portfolios
To offer Clients even more options to suit their investment needs, Tangerine recently launched their Global ETF Portfolios. The new Tangerine Global ETF Portfolios bundle a selection of exchange traded funds (ETFs) in a mutual fund, offering a combination of the hands-off benefit of mutual funds with the lower cost of ETFs. Either a first-time investor or a more seasoned investor who wants to broaden their portfolio can experience a simple and convenient way to invest, with features like:

  • Low management fee: Tangerine’s low fee helps to ensure your money is working harder for you1.
  • Autopilot investing: Tangerine’s simplified features include automatic contributions, automatic rebalancing, and dividend reinvesting.
  • Globally diversified: Each portfolio invests in stocks and/or bonds from over 45 countries across the world, offering a whole lot of opportunity for growth.
  • Designed to meet your needs:  Everyone’s investment goals are different, and Tangerine will help you pick the right investment option to meet your needs.
  • Start with as little as $25: You don’t need a fortune to start investing. Get going with as little as $25. Even small amounts add up over time.
  • It takes 10 minutes or less: It should take you only 5 to 10 minutes to get started with our simple setup steps, with an option to choose from an RSP, TFSA, RIF or non-registered Account.

You can learn more information about Tangerine’s Global ETF Portfolios here, and start investing here.

More information on Tangerine Investment Funds is available at

About the FundGrade A+ ® 
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata. FundGrade ratings are subject to change every month.

Performance for the winning fund for the period ended December 31, 2020 is as follows:

Tangerine Balanced Income Portfolio: 8.48% (1 year), 5.74% (3 years), 4.97% (5 years), 5.34% (10 years).

Award-winning fund for 2020 is:

Fund Name

CIFSC Category

Fund count

FundGrade Start Date*

Tangerine Balanced
Income Portfolio

Canadian Fixed Income Balanced



* The end date for the FundGrade calculation is December 31, 2020.

About Tangerine Investment Funds
Tangerine Investment Funds are managed by Tangerine Investment Management Inc. and are available only by opening an Investment Fund Account with Tangerine Investment Funds Limited. Both firms are wholly-owned subsidiaries of Tangerine Bank. Tangerine Investment Funds Limited is the principal distributor of the Tangerine Investment Funds.

About Tangerine Bank
Tangerine Bank is a digital bank that delivers simplified everyday banking to Canadians. With over 2 million Clients and close to $40 billion in total assets, it’s one of Canada’s leading digital banks. Tangerine Bank offers banking that’s flexible and accessible, products and services that are innovative, fair fees and award-winning Client service. From Savings Accounts to no-fee daily Chequing, Credit Cards, GICs, RSPs, TFSAs, Mortgages, lending products and Investment Funds through its subsidiary, Tangerine Investment Funds Limited, Tangerine Bank has the everyday banking products Canadians need. With over 1,000 employees in Canada, the bank’s presence spans its website and Mobile Banking app to its 24/7 Contact Centres and Toronto-based head office. Tangerine Bank was launched as ING DIRECT Canada in 1997. In 2012 Tangerine was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary.

For more information, visit

1The Portfolio’s expenses are made up of the management fee, operating expenses (including the fixed administration fee), and trading costs. The annual management fee is 0.50% of the Portfolio’s value. The annual fixed administration fee is 0.15% of the Portfolio’s value. Because this Portfolio is new, its remaining operating expenses and trading costs are not yet available.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

SOURCE Tangerine

For further information: For media inquiries: Rebecca Webster, Corporate Communications, Tangerine Bank, [email protected]

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