Letters, Statements and Other Reports

Following the release of report by Douglas Cumming, Sofia Johan and Yelin Zhang – “A Dissection of Mutual Fund Fees, Flows and Performance” in October 2015, the authors received several questions and comments on the research. The Canadian Securities Administrators (CSA) asked Professor Cumming to publish a list of the questions he has received thus far along with his responses so that all stakeholders may benefit from the information. The list of Frequently Asked Questions is available on the CSA website.

A Dissection of Mutual Fund Fees, Flows and Performance, independent research prepared by Professor Douglas Cumming, Ontario Research Chair at the Schulich School of Business at York University, along with coauthors Sofia Johan and Yelin Zhang, also from the Schulich School of Business. The research was commissioned by the CSA to assess whether sales and trailing commissions influence mutual fund sales.

Request underway to investment fund managers for mutual fund fees data – Working on behalf of the Canadian Securities Administrators (CSA), independent third party research is now underway to assess the impact of commissions and embedded fees on mutual fund flows. Requests have been sent to all Investment Fund Managers offering public mutual funds across Canada for data, which will inform the CSA’s examination of the current mutual fund fee structure

Request underway to investment fund managers for mutual fund fees data – Working on behalf of the Canadian Securities Administrators (CSA), independent third party research is now underway to assess the impact of commissions and embedded fees on mutual fund flows. Requests have been sent to all Investment Fund Managers offering public mutual funds across Canada for data, which will inform the CSA’s examination of the current mutual fund fee structure

Letter from CSA Chief Accountants’ Committee to The Canadian Institute of Chartered Accountants on the issue of partner rotation discussed in the Exposure Draft “Independence Standards – Partner Rotation