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Canadians are looking more toward international opportunities in hopes of boosting returns in retirement portfolios.Getty Images/iStockphoto

Two Globe and Mail reporters have won awards for their stories focused on investing and investment literacy.

Rob Carrick and Ian McGugan have taken second and third in the 2016 PMAC awards for excellence in investment journalism, the Portfolio Management Association of Canada, a non-profit industry association, announced Thursday.

Morningstar's Rudy Luukko won first prize in this category for a three-part series about online advisers.

"They broke new ground, explaining complicated and complex issues of interest to the consumer in a way that was easy to understand, well-researched and gave compelling new insights and perspective into meaningful investor topics," PMAC president Katie Walmsley said in a statement.

This is the fifth year for the annual competition, which was created to acknowledge journalistic excellence that fosters better understanding of the investment industry and improves Canadians' financial literacy.

Mr. Carrick earned second prize for his guide to low-fee robo-advisers.

Mr. McGugan earned third prize for two stories on "closet indexing" by mutual funds: "Managed money in Canada has a shameful distinction" and "Revealing the closet indexers among Canada's mutual funds."

The winners were chosen by a panel of Canadian media and investment professionals.

The prize winner earns $5,000; second place gets $3,000 and third place gets $2,000. Awards will be presented at PMAC's CEO dinner on June 1.

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