The Investment Funds Institute of Canada says that it supports the survey of mutual fund practices announced yesterday by the Ontario Securities Commission.

“We are committed to maintaining the confidence of Canadian investors. Mutual funds help millions of people achieve financial security and we will honour their trust,” said Tom Hockin, president and CEO of IFIC, in a news release. “We look forward to working cooperatively with the OSC through this survey process, bearing in mind that there are significant differences in how the fund industry operates between Canada and the U.S.”

The executive committee of IFIC says it believes that the interests of individual unitholders should always come first and remains committed to maintaining and, where possible, enhancing the quality and security of mutual fund industry practices.