What is a mutual fund?
Managed by investment experts, a mutual fund is a pool of money that is spread across a variety of investments. This allows you to grow your assets and diversify your savings, while providing you with protection from dips in the market.
What is one of the biggest advantages of mutual funds?
Compared to segregated funds and buying your own individual stocks, mutual funds have lower fees and are therefore more cost effective. There are three types of mutual fund fees:
- Management expense ratio (MER)
- Sales charges
- Redemption fees