COVID-19: Investment fund industry updates (April 17, 2020)

CSA Relief on Short-Term Borrowing Limits for Mutual Funds Investing in Fixed income

On April 17, 2020, the Canadian Securities Administrators’ (CSA) provided blanket relief to temporarily increase short-term borrowing limits for mutual funds that invest in fixed income securities. The temporary borrowing limit is increased from 5% to 10% of a fund’s net asset value in certain circumstances.