Dear Pat and team: I have a numbered company, with equity holdings I must sell off over four years. My accountant has advised me to sell roughly 25% of the value of its equities each year, for the next four years. Could you recommend which ones to sell in what order to account for about 25% of the total value each year? Here’s the list:
CI Canadian Bond Fund
$ 31,286
CI Canadian Equity
$ 73,406
CI Corporate Bond
$ 37,783
iShares Cdn S&P/TSX60
$ 22,640
iShares MSCI JAPAN ETF
$ 22,640
BCE Inc.
$ 7,592
SPDR S&P China ETF
$ 6,783
WestJet Airlines
$ 12,090
Cash
$ 3,489
TOTAL Investments
$ 217,710
A: We don’t generally recommend that investors hold mutual funds, mostly because of their higher fees.
In particular, we also don’t recommend bond funds: Bonds are unlikely to perform well over the next few years, if only because interest rates will likely hold steady or rise. That means the fund would only earn interest income on its bonds; in fact, instead of capital gains, its bond holdings could produce capital losses.
So, you should consider selling the bond funds first, and then the other mutual funds, the next year. Third, perhaps, sell the two riskier, foreign ETFs. That leaves you with the Canadian ETF and your shares in WestJet and BCE to sell in the fourth year.
year.
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