2019 PMAC Award for Excellence in Investment Journalism Winners Announced

Portfolio Management Association of Canada (PMAC)

Announces Winners of


The Globe and Mail’s Janet McFarland takes top honours for

“Inside the fall of Fortress”

David Aston for MoneySense and Tim Shufelt for The Globe and Mail receive second and third prizes respectively

TORONTO, ON, June 5, 2019 – The discerning insight and writing talents of three Canadian financial journalists have garnered Janet McFarland (The Globe and Mail), David Aston (MoneySense.ca) and Tim Shufelt (The Globe and Mail) the top three prizes of the 2019 PMAC Award for Excellence in Investment Journalism.

“The submissions hit the mark this year with exceptionally well-researched articles on a variety of complex topics that collectively helped foster a better understanding of the investment industry. Our independent panel of judges selected the articles of three winning journalists and two honourable mentions that stood out as topical, compelling and educational,” says PMAC President, Katie Walmsley.

PMAC created the annual competition, now in its eighth year, to encourage and recognize outstanding investment journalism that ultimately improves the financial literacy of Canadians.

First Prize:
Janet McFarland (The Globe and Mail) for her article Inside the fall of Fortress, published on December 14, 2018.  This powerful in-depth investigative reporting was the result of months of interviews with industry players, regulators and insiders.  Her hard-hitting investigation is an important cautionary lesson to all investors who chase unrealistic returns.

Second Prize:
David Aston (MoneySense.ca) for his article An investor’s guide to robo-advisors 2018, published on April 29, 2018. Aston’s story provides a clear survey of trends and practical guidance for investors on the evolving robo-advice marketplace.  In addition to this year’s award, Aston holds the honour of being the most frequently recognized recipient of the PMAC Award for Excellence in Investment Journalism in the last eight years, most recently earning third prize in 2017 and honourable mentions in 2015 and 2016.

Third Prize:
Tim Shufelt (The Globe and Mail) for his three short articles: Timing an exit from equities is a tricky matter, The dark side of dividends: Ballooning corporate debt and Check in, freak out: Real-time portfolio tracking can be ‘a double-edged sword’. Shufelt’s articles were insightful, informative and interesting in a compact format, each containing useful nuggets of information for everyday investors.

The judging panel also gave honourable mention to Bloomberg.com’s Natalie Obiko-Pearson and Matthew Campbell for their article The city that had too much money.  This well-written story reports on the dramatic economic, demographic and physical transformation of Vancouver caused by the influx of cash from China.   The Globe and Mail’s Niall McGee also received honourable mention for his series on Why investors are shunning gold.  McGee’s clearly articulated and sourced articles provide a point of view on a topic that is of global and national interest.

The competition’s first prize is $5,000; second prize $3,000 and third prize $2,000. The prizes will be presented at PMAC’s CEO Dinner on June 19, 2019 in Toronto.  

Details of the annual competition are available on the PMAC website.

 About PMAC:
Portfolio Management Association of Canada represents over 275 investment management firms that manage more than $2.8 trillion in assets for private individuals, foundations, universities and pension plans. The Association advocates for the highest standards of unbiased portfolio management in the interest of investors served by members.


Contact Margo Rapport
Rapport Communications
Email: margo@margorapport.com
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