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Is a Collective Investment Fund (CIF) like a mutual fund?

A CIF is similar to a mutual fund, but there are a number of important differences.

Similar to a mutual fund, a CIF is a pooled vehicle for investments. To invest in a mutual fund, an individual only needs to meet the minimum investment threshold established by the fund. There are no eligibility barriers or restrictions on the type of assets used to invest in one of these funds. By contrast, entry to and exit from a CIF is usually not as easy as investing in or selling shares from a mutual fund. Entry into a CIF is limited to those bank customers who fall within the eligibility criteria set forth in the banking and securities laws.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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