A new survey by financial services research firm DALBAR gives segregated fund investor statements lowest marks in the investment industry.
DALBAR recently evaluated 11 segregated fund investor statements.
The results show that segregated fund statements are behind brokerage and mutual fund statements in meeting investors’ statement needs.
“Mutual fund companies are doing a better job at reporting rates of return,” said Manny Da Silva, director for DALBAR’s Canadian office. The report indicates that only two segregated fund firms, Manulife and Maritime Life, report personal rates of return.
Da Silva added that brokerage firms are better at providing asset allocation information. All brokerage firms report asset allocation information compared to four segregated fund firms.
According to DALBAR, seg fund statements share two weaknesses with mutual fund and brokerage statements. Account statements do a poor job of showing investors what relevant services, privileges, and options are available to them. As well, most statements fail to compare account performance to an appropriate benchmark.
The top rated firms segregated fund firms are:
- Manulife (with a strong lead)
- Mackenzie Financial, and
- Canada Life.