Mutual fund company

From finiki, the Canadian financial wiki

A mutual fund company is a privately or publicly owned business that manages, sells and markets closed-end and open-end mutual funds to the public.[1] They typically offer a variety of funds and investment services to mutual fund investors that include portfolio management, record keeping, custodial trust, legal, accounting and tax management services.[2]

Statistics

At the end of 2020, Canadian mutual funds held $1.78 trillion dollars in assets, spread over more than 3000 funds.[3] Of these assets, about half were in balanced funds.[3]

Back in 2015, mutual funds were held by 33% of Canadian households and accounted for 31% of Canadians' financial wealth.[4]

How to buy mutual funds

Mutual funds can be purchased:

Investor protection

The Canadian Investor Protection Fund (CIPF) exists to ensure that, in the event of an investment dealer or mutual fund dealer insolvency, cash and securities are returned to the investor, within defined limits.

References

  1. ^ Investopedia, Fund Company, viewed March 13, 2018.
  2. ^ Investopedia, What Is an Investment Company?, viewed May 4, 2021 (warning, US content)
  3. ^ a b Investment Funds Institute of Canada, 2020 Investment funds report, viewed January 30, 2021.
  4. ^ Investment Funds Institute of Canada, Stats and facts, viewed January 30, 2021.

External links