The Canadian Association of Income Trust Investors was launched with a new web site. The group mission is to preserve the ongoing viability and sustainability of the Canadian income trust market for the benefit of Canadians saving for retirement and those Canadians seeking retirement income, and ensuring that this important investment choice is preserved not just for today but for the benefit of all Canadians in the future.

The Web site can be found at www.caiti.info for more information.

An ex-investment banking executive, Brent Fullard is driving the initiative.  Based on the founding membership, the Association is of and for the interests of financial fund managers whose profession became all the more necessary when Ottawa clamped down on trust equities.

The group’s site says, “To the extent that Ottawa’s tax base is unaffected by the ongoing existence of income trusts, which it is, Canadians should be free to make their own investment choices in a manner that they determine best suits their investment goals. Unlike our elected representatives in Ottawa and members of the federal public service 70% of Canadians are not members of defined benefit retirement plans. Many who are, find that their plans are under funded. Retirement and the adequate funding of one’s retirement is an important social issue facing Canada and its aging population, however latent this issue may be in the political consciousness of Ottawa.”

A range of information about government myths about income trusts is provided with CAITI suggesting it will promote Advocacy, Accountability and Education.  For some it serves as a political lobby group, hopefully one able to truly include the diverse range of voices and perspective necessary to inform tax policy in a meaningful way.

CAITI has also pushed for the Auditor General to review the tax policy of the Conservative government, including a once-hopeful Liberal leadership candidate as the featured speaker at the association’s first public event.

The new lobby group is focused on income trusts for many good reasons. The association gives major fund managers a platform from which they can appear to be advocating on behalf of their clients including individual investors.