Highfields Capital Management, LP is asking Tim Hortons Inc. to sell or spin off its distribution business, to create a real estate investment trust to house its property assets and bring in new Directors who have more financial experience. Highfields owns 4% stake in Tim Hortons. Highfields wants the Canadian chain to boost returns aggressively via debt-funded share buybacks, while also scaling back on its U.S. expansion plans. "This business aren’t broke and needs no fixing," said Barry Schwartz, Portfolio Manager of Baskin Financial, which owns roughly 1.3 million shares in Tim Hortons, according to Thomson Reuters data. According to the HedgeWorld Daily News, Tim Hortons was not reachable for comment. Tim Hortons shares were up 2.8% at $55.68 in trading before the bell in the United States.

Highfields Capital Management, LP Presents at Boston Investment Conference, Nov-08-2012 . Venue: Back Bay Events Center, Boston, MA, United States. Speakers: Jonathan Jacobson.

Highfields Capital Management, LP said it expects to discuss options for the U.S. mortgage insurance (MI) operations and other businesses of Genworth Financial Inc. The shares of Genworth rose as much as 7%. The discussions will include a possible sale or spin-off of assets, Highfields said.