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Minister Ian Lafrenière announces an investment of $3.1 M in the Centre d'amitié autochtone de Lanaudière – Canada NewsWire



QUÉBEC CITY, Nov. 10, 2020 /CNW Telbec/ – The Minister Responsible for Indigenous Affairs, Ian Lafrenière, today announced that the government is investing $3.1 million in Joliette, to enable the relocation and enlargement of the Centre d’amitié autochtone de Lanaudière (CAAL).

Construction of the new centre should be completed in the autumn of 2022. The premises will be more spacious and will enable the organization to broaden its range of services. In particular, the CAAL plans to arrange:

    • Consultation offices and a community room and kitchen;
    • Spaces to promote Indigenous history, arts and cultures;
    • Spaces for social economy activities;
    • Spaces that can be shared with partners;
    • Rooms dedicated to the CAAL’s Mirerimowin clinic;
    • A residential annex
    • An early childhood centre (CPE), a child-minding service and a playroom;
    • Administrative offices.

It will be recalled that the CAAL is an Indigenous community organization founded in 2001. Its mission is to improve the living conditions of Indigenous people living in or passing through the Joliette region by providing a number of support services, assistance and information through programs specially designed for Indigenous families.


“Our aim, with the relocation and enlargement of this centre, is first to provide Atikamekws and members of other Indigenous nations with a place that is pleasant to visit, that fulfills their needs, and where they will be welcomed with respect and benevolence. This is the kind of initiative that gives my work its full meaning – at any rate the meaning that I intend to give it, which is: to take concrete action for the Indigenous people of Québec, as is the case with this investment, the second in my ‘I hope’ plan.”

Ian Lafrenière, Minister Responsible for Indigenous Affairs

 “We are very pleased with the announcement of this generous investment. The construction of a new Friendship Centre in Lanaudière that is bigger and more open will enable us to provide a space in keeping with the quality of services that our members deserve. The Indigenous population of the region will feel warmly welcomed, with dignity, and will find a response specifically adapted to their needs.”

Jennifer Brazeau, Executive Director of the Centre d’amitié autochtone de Lanaudière

SOURCE Cabinet du ministre responsable des Affaires autochtones

For further information: Source: Mathieu Durocher, Press Officer, Office of the Minister Responsible for Indigenous Affairs, Tel.: 418 528-8407; Information: Jean Auclair, Media Relations, Direction des communications, Ministère du Conseil exécutif, Tel.: 418 643-2001, ext. 4064

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Swiss Reject Business Liability Measure, Ban on SNB Investments – Bloomberg



Two Swiss votes that had the potential to alter the corporate landscape of a country known for low taxes and light-touch regulation failed.

Nearly 60% of voters on Sunday rejected a measure that would’ve banned the Swiss National Bank from investing in defense companies.

A second measure, the Responsible Business Initiative, was also unsuccessful. It would’ve held multinational corporations responsible for human rights and environmental lapses abroad but failed to get the requisite majority among the country’s cantons, or states.

Tough Sell

An ban on the SNB investing in arms makers got rejected by voters

Source: Swiss government

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While activists pushed for the two initiatives in a bid to force businesses and investors to adhere to higher moral standards, Switzerland’s government argued they’d hurt the economy.

Multinational corporations also campaigned against the RBI, saying it would’ve saddled them with additional bureaucracy and had the potential to cause a flood of lawsuits.

“Of course I’m disappointed,” lawmaker Mattea Meyer, who supported the RBI, told broadcaster SRF.

SNB Stocks

For the SNB, the vote result means it escapes having to offload stocks valued at almost 20 billion francs ($22 billion). The central bank holds the equities as part of its mammoth 870 billion francs in reserves, built up during a decade of currency interventions.

The initiative would also have stopped pension funds from providing both debt and equity financing to companies that derive more than 5% of their revenue from arms sales.

The failure of the RBI paves the way for the adoption of the government’s less stringent counterproposal. It’ll institute new reporting and due-diligence for firms.

Initiatives require 100,000 signatures to make the national ballot in Switzerland. To be successful, they must get a majority of votes, as well as a majority of cantons.

Stefan Brupbacher, director of machine industry group Swissmem, said he was “relieved” that damage to the Swiss economy and employment was averted.

(Updates with details on SNB reserves in seventh paragraph)

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    Swiss Ban on SNB Arms Investment Trending Toward 'No,' SRF Says – BNN



    (Bloomberg) — Swiss voters appear to be on course to reject a measure that would ban the country’s central bank from investing in defense companies, according to broadcaster SRF.

    Results are due later on Sunday. No trend was yet available for an initiative on corporate ethics, the broadcaster said.

    The Swiss National Bank holds defense company stocks as part of its mammoth 870 billion francs ($960 billion) in reserves. It’s a passive investor, merely tracking indexes, but anti-war activists argued a ban would send a strong signal about the ethics of weapons financing.

    ©2020 Bloomberg L.P.

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    Investment fees you don’t realize you’re paying – Sentinel & Enterprise



    When it comes to investing, there are some things you can’t control. However, the one thing all investors can control is how much they pay in fees.

    Numerous studies and surveys over the years have consistently demonstrated that when it comes to investment fees, most investors are unaware of two things: how much they are paying, and how they are paying for it.

    One of the biggest reasons most investors are unaware how much they are paying is due to the fact that the vast majority of financial advisers and all mutual-fund fees are automatically deducted from their accounts.

    Financial adviser fees

    One of the most common methods of compensation for fee-only and fee-based advisers is based on the number of assets they have under management. When it comes to being compensated for their services, more than 95% of financial advisers choose to have their management fees automatically deducted from their client’s accounts. The problem with this “out of sight, out of mind” compensation arrangement is that a financial adviser’s fees are reducing the returns of a portfolio you are paying your adviser to grow.

    The industry average asset management fee is 1.1%. At Capital Wealth Management, our asset management fee is 0.5%; however, unlike most financial advisers, we never deduct our management fee from our client’s accounts. Every quarter we mail our clients a detailed invoice that allows them to write a check from a separate outside account, earning little to no interest for our asset-management services, thus keeping more money in their account to grow for retirement.

    Mutual-fund fees

    An additional fee that investor’s have is that associated with investing in mutual funds. Every mutual fund has fees and, similar to most financial advisers, all mutual funds automatically deduct their fees from their shareholders’ accounts. The average stock mutual fund has an expense ratio of about 1%. At Capital Wealth Management, approximately 75% of our clients’ assets are invested in index funds, which have an average expense ratio of 0.1%.

    Both fees combined

    Mutual-fund fees combined with any fees deducted from an account to pay for a financial adviser’s management fee can significantly reduce the rate of return an individual investor can earn over time. The average financial adviser’s fee of 1.1% and mutual-fund fees of 1% combine for a total pf 2.1% in annual fees deducted from an account.

    At Capital Wealth Management, the total fees deducted from our clients’ accounts is 0.1%, for a difference of 2%. How much can this 2% difference in fees make?

    Say two individuals each have the same starting portfolio value of $500,000, and earn the same average annual return (before fees) of 8% over 10 years. Portfolio A’s financial adviser and mutual-fund fees of 2.1% are automatically deducted from his account. Portfolio B chooses to pay his financial adviser’s feefrom a separate outside account rather than having it deducted from his account. As a result, the only fees deducted from Portfolio B are the mutual-funds fees of 0.1%. The results after 10 years:

    Portfolio A’s total fees: $136,657; Portfolio B’s total fees: $7,201.

    Portfolio A’s average return after fees: 5.7%; Portfolio B’s average return after fees: 7.8%.

    Portfolio A’s ending value: $873,007; Portfolio B’s ending value: $1,068,721.

    Portfolio B ends up with $195,714 more than Portfolio A. The $129,456 of savings in fees allows an additional $66,258 of earnings to compound. This additional 22% of savings is due entirely to Portfolio B’s lower fees.

    The fact is that high fees reduce investment returns, and it’s important for all investors to understand what investment fees they’re paying, and how they are paying for them.

    Martin Krikorian, is president of Capital Wealth Management, a “Fee-Only” registered investment adviser at 9 Billerica Road, Chelmsford. He is the author of the investment books, “10 Chapters to Having a Successful Investment Portfolio” and the “7 Steps to Becoming a Better Investor.” He can be reached at 978-244-9254, Capital Wealth Managements website;, or via email at,

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