The Globe and Mail swept the top prizes in the Portfolio Management Association of Canada’s 2020 awards for excellence in investment journalism.
The paper won first place in both the long and short article categories. One winning piece revealed how investors banked on the cannabis industry before the bubble burst while the other focuses on the complicated conflict between securities regulators and the Ontario government over changes to early-withdrawal fees on mutual funds.
Business reporters Mark Rendell and Tim Kiladze took home the overall top prize for their article uncovering how Bay Street’s stock promoters, hedge fund managers and investment banks made hundreds of millions of dollars from Canada’s licensed cannabis producers before cashing out at the peak and leaving retail investors to face large losses. The story also placed first in the long article category.
The Globe also won second prize in the long article category for a story by Tim Shufelt detailing how data could give investors an early look into potential market-moving deals and trends.
Clare O’Hara, The Globe’s wealth management reporter, won first prize in the short article category for her piece concerning tensions between securities regulators and the Ontario government over proposed changes to rules governing deferred sales charges, which are mandatory fees that investors pay when they withdraw their money out of certain mutual funds before a set time period.
Globe mining reporter Niall McGee received an honourable mention for an article about a string of technical errors that have hampered Canada’s junior miners.
Yan Barcelo of Morningstar won second prize in the short article category. The Financial Post’s Victor Ferreira received an honourable mention for his article on responsible investing.
PMAC president Katie Walmsley said the award submissions were “timely, topical and must-reads."
“The awards represent the best investment journalism this country has to offer," she said in a statement.
PMAC, which represents companies that manage investment portfolios, created the competition to honour outstanding investment journalism that helps to improve financial literacy in Canada. The winners will be recognized on June 22 at a virtual award presentation.
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