Please be advised that the Canadian Investment Funds Standards Committee (CIFSC) is implementing two new fund categories/asset classes:
- US Dividend & Income Equity; and
- Global Dividend & Income Equity.
Upon review, the objectives for both asset classes are 100% Equities.
As a result, effective March 31, 2024, several funds with the current asset category U.S. Equity and Global Equity will move to US Dividend & Income Equity and Global Dividend & Income Equity, respectively.
KYP Impact
A CIFSC category change constitutes a material change and will therefore trigger a KYP due diligence reset. As a result, KYP alerts will be sent out to impacted Representatives with a list of impacted funds requiring KYP due diligence re-review.
Please refer to the press release from CIFSC for more details and a list of impacted funds.
Should you have any questions, please contact our Client Services Team, by email at investia@investia.ca, by phone at 1-888-684-5548, or use the chatbot feature available on the Advisor Centre.
