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A mutual fund is a portfolio that may contain bonds, stocks or other investable assets like money market products that are selected and managed by a professional fund manager.
It pools your money with other investors and provides access to investments that you may not normally have access to as an individual investor.
Mutual fund returns may consist of dividends and interest, or capital gains from the fund's sale of securities.
With so many different mutual funds available, there may be one or more that fits your investment goals.
Typically, the money you have invested in mutual funds is not locked in. You may request to redeem your holdings.
Having a professional fund manager manage investments is a big advantage, but there are costs associated with that. Fees are charged directly to the fund as a percentage of the fund's assets
What are GICs?
- GICs offer secure investments.
- Cashable and non-cashable GICs can be locked in for longer terms, up to 5 years.
- GICs can be locked in for longer terms, up to 5 years.
- They are a safe way to save money because your initial investment (principal) is protected.
- Depending on the type of GIC you choose, you may earn a guaranteed rate of return for the term of your investment.
1 Laddering strategies can be ideal for shorter time horizons too. The key is to spread out your investments and maximize your return over your preferred time horizon.