Annual survey reveals historically high investor knowledge about investing in funds
September 29, 2021 (Toronto) – The Investment Funds Institute of Canada (IFIC) and Pollara Strategic Insights today released the results of their annual Canadian Mutual Fund and Exchange-Traded Fund Investor Survey. The annual survey has tracked attitudes, expectations and behaviours of Canadian investors since 2006.
The survey this year included questions about the impact of the COVID-19 pandemic on Canadian mutual fund and ETF investors, and their ability to save and invest. The survey also included a responsible investing component for the second year, as well as questions on the value of advice, satisfaction with CRM2 statements, and the role of technology in the advisor-client relationship.
“IFIC and Pollara have continued to adapt the survey to explore the new issues that matter to Canadian investors, which ultimately helps the industry better understand their needs,” said Paul Bourque, President and CEO, IFIC. “This year, it was particularly interesting to learn that more investors were asked by their advisors about their interest in responsible investing.”
“The global pandemic has shaped the lives of Canadians over the last eighteen months,” said Lesli Martin, Vice President, Pollara Strategic Insights. “It is encouraging to see that investors have been able to save and invest more during these challenging times, and have also shown notable increases in satisfaction with their annual disclosure statements.”
- Investors report historically high levels of knowledge about investing in mutual funds and ETFs, with 85% of mutual fund investors stating they believe they are somewhat to very knowledgeable about investing in mutual funds, and 86% of ETF investors stating that they are somewhat to very knowledgeable about investing in ETFs.
- Similar to the last three years, 96% of mutual fund investors who use an advisor are somewhat to very satisfied with the advice given by the advisor. For ETF investors, satisfaction is at 98%.
- There were significant increases in satisfaction with CRM2 statements in 2021 for both MF and ETF investors.
- Approximately one-third of both mutual fund and ETF investors reported that they were able to save more during the pandemic and approximately half of each group was not impacted in their ability to save.
- For those investors who are talking to their advisors in a different way since the pandemic, 52% of mutual fund investors and 70% of ETF investors are talking through video conference platforms.
- Despite the high levels of satisfaction with all forms of communication, the vast majority of mutual fund and ETF investors report that their preference post-pandemic would be in-person or phone communication.
The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.
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