The Investor Education Fund (IEF) today launched a new, enhanced version of its popular Mutual Fund Fee Impact Calculator.
The tool, which was initially launched in June 2000 by the Ontario Securities Commission, now offers additional features and functionality, giving consumers a broader and more hands-on understanding of how various fees and other costs can affect their bottom lines.
“The calculator has always been a very popular online resource. Now it is even more useful for investors shopping for mutual funds this RRSP season,” says Terri Williams, president, IEF.
For the novice investor, the calculator demonstrates the impact mutual fund fees can have on investments over time, including sales fees and management fees.
New functionality of the calculator now allows users to compare two funds.
In addition, default numbers for both investment returns and costs for the most popular categories of mutual funds are provided. Or, an investor can enter his or her own fund’s specific numbers into the calculator to evaluate the impact of that fund’s fees.
Plain language educational content helps investors understand the various types of costs.
Investors can use the tool to:
- Compare two different funds. Results for two different funds show as a side-by-side comparison and can be easily printed for future reference.
- Learn by example: Use some sample numbers already provided to show how much fees can add up over time.
- Assess the fees they are currently paying.
The calculator is available now on the IEF Web site at www.investorED.ca.