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Proposed Framework 81-406 Point of Sale Disclosure for Mutual Funds and Segregated Funds
Letter Summary:
We are in favour of full disclosure and clarity for all investors. There is always a danger that too much information may be ignored and too little is not meaningful. Individual investors range from novice with no knowledge to very sophisticated and their use and understanding of information provided may have different impacts on their investment decisions. We are also pleased at the spirit of harmonization and co-operation with which the members of the Joint Forum have put forward in this instrument for comment. We welcome the opportunity to provide future input on further harmonized documents in the future.
Overview of the Council’s Comments:
The CAC believes in timely disclosure and information. Mutual Funds should be purchased as long term investments and selections frequently made based on the manager’s past performance. At a minimum, quarterly information should be available on he Fund Company’s website.