Mutual Fund Families

Mutual funds could be purchased from any of the following -- brokers, banks, or from mutual fund families. For the last one, they are chosen by many individuals because they offer better options.

Examples of mutual fund families

Mutual fund families are sets of funds marketed under similar brands. A family of funds would ordinarily have one distributor and even the same advisors. A family's multiple funds could be part of one structure. A business trust could be divided into more units- every unit issues its shares individually.

Here are a few mutual fund families in Canada:

# IGM Financial Inc. -- Companies under this family include Investors Group Inc. and Mackenzie Financial Corporation. # Royal Bank of Canada -- A company under this family is the RBC Asset Management Inc. # Toronto-Dominion Bank -- The TD Asset Management company is under this family. # Canadian Imperial Bank of Commerce -- Under this family is the CIBC Asset Management company.

One crucial thing for you to remember is that every mutual fund family establishes its own discounts and also the mandates pertaining to breakpoint eligibility.

More tips when choosing mutual fund families

The breakpoint discount would apply to a purchase of a particular fund or funds within a family. Investment levels where discounts are offerred are termed as breakpoints according to the industry's parlance. So that you would not miss any discount, review statements reflecting mutual fund assets.

If you want to ascertain which member of the mutual fund family you could use in pinpointing that discount, check the prospects of the fund. You could also resort to reading the online site or seeking a broker's advice. Before choosing any mutual fund family, do a research first regarding its history and reputation.