MLA financial disclosure statements released

Terry Lake is the province's environment minister – and his RRSP investment portfolio includes environmentally focused mutual portfolios

Kamloops This Week

Terry Lake is the province’s environment minister – and his RRSP investment portfolio includes environmentally focused mutual portfolios, along with funds investing in Chinese companies and funds investing in companies linked to Alberta’s oil sector.

Among Lake’s holdings, as listed in his MLA public disclosure statement, are the AGF Clean Environment Equity Fund, which, according to the fund’s website, invests in “a diversified portfolio of companies that fit the fund’s environmental concept of sustainable development. The fund focuses on four major themes: Energy and energy efficiency, water/waste water solutions, waste management and pollution control and environment, health and safety, while also performing thorough due diligence on company fundamentals.”

Lake also invests in the Manulife China Class LL fund and the Dynamic Dividend Value Fund, the latter of which has shares in Canexus Corporation, Inter Pipeline Fund and Trilogy Energy Corporation.

Public disclosure statements of all B.C. MLAs were released on Thursday, Dec. 13.

Lake’s statement, which is current as of Sept. 7, notes he owns 14 Manulife funds under his RRSP, six funds under a spousal RRSP and one fund under a spousal tax-free savings account.

Lake, who is also the Liberal MLA for Kamloops-North Thompson, lists his sources of income as being an MLA and cabinet minister and from royalties earned from Elsevier Publishing. He also lists his spouse’s income from Thompson Rivers University.

Lake’s assets are a residential property in Kamloops owned by him and his wife, an investment property on Braemar Drive in Aberdeen, owned by him and his wife, bank and other deposits owned by him and his wife; and GICs and other term deposits owned by him and his wife.

In addition, Lake’s assets involve shares in Lifelearn, listed as an inactive controlled private corporation with no assets or liabilities, while his spouse is listed as owner, president and secretary of Great Lakes Enterprises Ltd., a veterinary consulting and conference-organizing company.

 

Lake and his wife have a Scotiabank mortgage on the Braemar Drive property and a Scotiabank line of credit.