Vancouver Sun's David Baines Recipient of Inaugural PMAC Award for Excellence in Investment Journalism

Portfolio Management Association of Canada Award Recognizes Investigative Reporter's Contribution to Proactive Reporting that Increases Investor Awareness and Investor Protection

TORONTO, April 4, 2012 /CNW/ - Portfolio Management Association of Canada (PMAC) (www.portfoliomanagement.org) today announced that David Baines, a business columnist with the Vancouver Sun has been awarded the inaugural PMAC Award for Excellence in Investment Journalism for his article "Securities Regulation is Based on Presumptions, Misconceptions and Often Outright Myth" that appeared in the Vancouver Sun on May 18, 2011.  The top prize of $10,000 will be presented to Baines at an industry event in Toronto on April 30, 2012.

PMAC President Katie Walmsley says, "We are thrilled to recognize David Baines as a gifted Canadian investigative journalist whose proactive reporting has increased investor awareness of potential illegal or unethical investment offerings and whose writings have prompted policy and rule changes to increase investor protection."

PMAC will also formally recognize two submissions for Honourable Mentions at the April 30 industry event: MoneySense Magazine's David Aston's "A Perfect Fit" and "Get More Out of Your TFSA", written by MoneySense Magazine's Julie Cazzin.

"These talented business journalists play a critical role in fostering a better understanding of the investment industry, its products and services," adds Walmsley.

About PMAC:
Formerly the Investment Counsel Association of Canada (ICAC), the Portfolio Management Association of Canada (PMAC) represents more than 160 portfolio management companies that oversee more than $800 billion in assets for over one million institutional and high net worth clients. Member firms support private clients, pensions, insurance, foundations and endowments. As one of Canada`s largest financial industry associations, PMAC continues the 60-year tradition of ICAC. PMAC's mission is to advocate the highest standards of unbiased portfolio management in the interest of investors.

PMAC uses a collaborative information-sharing business model and represents its members to securities regulators and government agencies. The Association works to "advance standards" in the industry by collaboratively developing industry best practices while keeping members current on regulatory and compliance issues.

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