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The Voice of Canada’s Investment Funds Industry

Performance Reporting & Cost Disclosure

The investment funds industry supports recent regulatory initiatives that provide investors with important information before and after they purchase their investments.

Now that CRM2 is fully implemented, investors know, in dollar amounts, all of the costs associated with their accounts. On the performance side, they see how well their investments have performed in dollar terms and their percentage rate of return over several time periods.

CRM2 is expected to strengthen investors’ understanding of their investments and their confidence to make sound decisions.

IFIC is encouraging its members, and the industry generally, to adopt consistent investor-friendly language in their all their materials. IFIC has created an inventory of plain language materials that can be shared broadly to help advisors inform their clients.

We continue to work closely with our members and regulators on all aspects of implementation.



Documents

2022
IFIC Submission - CSA and CCIR - Proposed Amendments to NI 31-103 and Companion Policy 31-103CP - Total Cost Reporting (July 27, 2022)

Assessment of the Joint Regulators’ Enhanced Fee Disclosure Proposal - PwC

Examines the proposed amendments to fee disclosure (know as total cost disclosure) by the Canadian Securities Administrators (CSA) and the Canadian Council of Insurance Regulators (CCIR). The report focuses specifically on the proposals to the securities sector. The report examines fee disclosure in other key jurisdictions, examines projected impact on investors, and evalutes impact on the industry.


IFIC Submission - CSA Notice and Request for Comment - Modernization of the Prospectus Filing Model for Investment Funds (April 27, 2022)

IFIC Enhanced CRM2 Model Statement (March 2022)

2021
IFIC Response Letter To CSA Joint Committee - Questions on Total Cost Reporting (December 20, 2021)

2019
2019 Your Guide to Investment Funds

Helpful information for every stage of your financial journey


2018
Advisor Insights: Global Regulatory Developments in Investor Protection (May 2018)

This issue of Advisor Insights focuses on regulatory developments in 16 countries and is based on a research report that was updated in May 2018. It summarizes report findings in a number of areas, including expanded disclosure, targeted reforms, best interest standard and embedded commissions and includes key points for advisors to discuss with clients.


Your Guide To Investment Funds (Winter 2018)

Understand your investments and secure your future


Advisor Insights Modest Investors – Easy Access and the Freedom to Choose are Keys to Successsful Long-term Investing (January 2018)

This issue of Advisor Insights contains data on the household assets of Canadian investors and provides insights on the difference that access to advice can make in their long-term savings.


2017
"It's your money. Find out more." – A Toolkit for Dealers and Advisors (November 2017)

The Investment Funds Institute of Canada has created this toolkit to help advisors engage with clients about the new information investors will receive about the performance of their investments and the fees they paid to their dealer under the initiative known as “CRM2”. The materials in this toolkit were created to encourage investors to open their statements and read the new information.