(January 16 – 10:55 ET) – Securities regulators across Canada have joined forces to promote the Mutual Fund Fee Impact Calculator, an interactive web-based tool that allows investors to calculate the impact of fees on their investments over time.
“We want people to see the impact fees can have on a mutual fund before they invest,” said Doug Hyndman, chair of the Canadian Securities Administrators.
“What at first can seem like a small difference in the fee level can have a large impact on an investment’s returns over time.”
The calculator explains and calculates the kinds of fees usually associated with mutual funds: management fees, loads and transfer and administrative fees. It advises investors to consider the fund’s return, management fee ratio and the quality of the service it offers.
The calculator was launched earlier this year as a joint initiative of Industry Canada and the Ontario Securities Commission. It has proved popular with investors.
“We have received many positive comments from the investing public,” Hyndman said. “In the coming weeks as Canadians think about RRSPs and mutual funds, we encourage them to use the Mutual Fund Fee Impact Calculator.”
The calculator can be found through links on CSA member Web sites:
- Alberta: www.albertasecurities.com
- British Columbia www.bcsc.bc.ca
- Manitoba www.msc.gov.mb.ca, and
- Ontario: www.osc.gov.on.ca/en/investor.html
It is also posted on Industry Canada’s Consumer Connection Web site at http://consumerconnection.ic.gc.ca.
-IE Staff