Answers about Collective Investment Funds

Where do I get information on my Collective Investment Fund (CIF)? How do I know what securities are owned by my CIF?

A CIF is established and maintained in accordance with a written plan. The plan contains provisions regarding the operation of the fund including investment powers, fees and expenses, terms for admission and withdrawal, audits, minimum frequency and method of valuations, and any other matters necessary to clearly define the rights of participating accounts. An audit and an annual financial report are required every 12 months. The annual financial report lists all the assets owned by the fund and may be obtained by request to the sponsor (bank) or from the employee benefit plan that provides the CIF as an investment option.

January 2010