FAQs: Investment Accounts

Can I transfer funds from other financial institutions into the Tangerine Investment Funds?

Are there any fees to transfer my registered plan to another financial institution?

How can I find out which Tangerine Investment Fund is most appropriate for me?

Are Tangerine Investment Funds covered by MFDA Investor Protection Corporation (IPC)?

Where can I view Tangerine Investment Funds performance information?

What RIF investment options does Tangerine offer?

Where can I view my Account(s) on the web?

Can I buy or sell Investment Funds online?

What is an RIF and does Tangerine Investment Funds Limited offer them?

How will I know when my electronic statement is ready?


 

Can I transfer funds from other financial institutions into the Tangerine Investment Funds?

Yes. You can transfer funds you already own in cash only (no in-kind transfers) by submitting to us a Direct Transfer of Account form. Transferring in-cash means that the funds you specify will be liquidated and converted to cash before being transferred here. To obtain the form:

  1. Sign in to your Tangerine Account.
  2. Under ‘Forms’, in the ‘Enrollment forms’ section select ‘RSP/RIF/TFSA mutual fund transfer form’ if you're opening a non-registered Account, or ‘RSP/RIF/TFSA mutual fund transfer form’ if you're opening a registered Account.

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Are there any fees to transfer my registered plan to another financial institution?

If you decide to transfer your registered funds to another financial institution, a $45 fee will apply.

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How can I find out which Tangerine Investment Fund is most appropriate for me?

We've simplified the investment process. All you need to do is to fill out our simple portfolio selector questionnaire and the appropriate Tangerine Investment Fund will be recommended to you based on your responses.

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Are Tangerine Investment Funds covered by MFDA Investor Protection Corporation (IPC)?

Yes. Tangerine Investment Funds Limited is a member of the MFDA IPC. You can visit their website for more information.

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Where can I view Tangerine Investment Funds performance information?

You can view Tangerine Investment Funds information on our website. Under ‘Investing’, select ‘Investment Fund’. All the information related to performance is available there.

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What RIF investment options does Tangerine offer?

Tangerine has offered RIF Investment Funds through its investment fund subsidiaries for a while, but we now also offer our Clients the ability to save during retirement in RIF Savings Accounts and RIF Guaranteed Investments (RIF GICs). As always, these products offer competitive interest rates with no fees or service charges. If you're looking to keep your retirement savings in a low risk, high return investment, our RIF Savings Accounts and GICs offer excellent value. For more information about RIFs, please visit the CRA website at cra.gc.ca.

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Where can I view my Account(s) on the web?

You can view your investment fund Account(s) online through tangerine.ca. Just log in to the site in using your Client Number and PIN (Personal Identification Number) and select your investment fund Account.

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Can I buy or sell Investment Funds online?

Yes. With Tangerine Investment Funds you can buy and sell funds on our website. You can also setup an Automatic Savings Program (ASP) on your Tangerine Investment Fund by clicking "Start an ASP". Remember, your online balance does not include unsettled trades.

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What is an RIF and does Tangerine Investment Funds Limited offer them?

An RIF is a Retirement Income Fund that is registered with the Canada Customs and Revenue Agency (CCRA). An RIF is usually started at age 71 (the age RSPs must be terminated) and allows for continued growth while providing an income stream. By December 31 in the year you turn 71, you must terminate your RSPs. You have different investment options, one of which is an RIF. An RIF provides a way to continue deferring tax until you withdraw the funds. There is a minimum withdrawal amount per year, and you can determine if you want to withdraw the minimum or an amount larger than the minimum.

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How will I know when my electronic statement is ready?

When you log in to check your Accounts, you can check your Inbox for updates, including when your electronic statement is ready. You can also sign up for Orange Alerts which will let you know when you have a new electronic statement ready. Don't forget you can review and print your Account activity online anytime.

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How can I open an investment fund Account?

Can I open an Account for my child, grandchild, nephew etc.?

How do I transfer my RSP from another financial institution to Tangerine Investment Funds Limited?


 

How can I open an investment fund Account?

The quickest and easiest way to open an investment fund Account is online through our quick and easy paperless enrollment process. We have become the first investment fund dealer to offer a complete paperless enrollment process!

To open an investment fund Account if you're an existing Tangerine Client:

  1. Sign in to your Tangerine Account.
  2. Under "Open a new Account", choose ‘Investing’.
  3. Click "Invest now" beside the investment fund Account you wish to open (or "Learn more" if you require more information).
  4. Complete the enrollment form and hit "Submit".

If you're not an existing Tangerine Client, click ‘Sign me up’.

You can also apply by mail. Our enrollment forms can be downloaded from the website or over the phone at 1-877-464-5678 or 416-497-6204 between 8 AM - 8 PM ET, Monday to Friday.

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Can I open an Account for my child, grandchild, nephew etc.?

In order to invest in investment funds, the Account holder must be of the age of majority in their province of residence. Tangerine Investment Funds Limited does not offer in-trust Accounts. Should you wish to invest for a minor, you can open an Account in your name with the knowledge of what the funds are intended for.

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How do I transfer my RSP from another financial institution to Tangerine Investment Funds Limited?

After opening an RSP Investment Fund Account with Tangerine Investment Funds Limited, simply print and complete our Direct Transfer Form and mail or fax it to us. We'll take care of the rest. Tangerine Investment Funds Limited accepts locked-in registered plans.

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What is an investment fund?

Why invest in an investment fund?

What is an RSP?

What is an RIF?


 

What is an investment fund?

An investment fund is a pool of capital which is invested and managed by professional investment managers. When you purchase units in an investment fund, you are contributing to own a portion of this pool of capital.

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Why invest in an investment fund?

Investment funds provide investors with five principal benefits:

  1. Professional management
  2. Diversification
  3. Liquidity
  4. Pooling of resources with other investors (economies of scale)
  5. Record Keeping

For more information, feel free to contact us by phone at 1-877-464-5678 or 416-497-6204 between 8 AM - 8 PM ET, Monday to Friday.

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What is an RSP?

An RSP is a Retirement Savings Plan that is registered with Canada Customs and Revenue Agency (CCRA). It allows you to save money for your retirement on a tax-sheltered basis (you don't pay tax on the income your investments earn until you withdraw the money from your RSP). You can choose to invest your money in several different options including savings Accounts, term investments and investment funds. When you retire, you begin to withdraw the money from your RSP, as you need it, for example from your RIF (Retirement Income Fund).

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What is an RIF?

RIF stands for Retirement Income Fund. an RIF is designed to provide retired Clients with a minimum retirement income amount every year, which is known as an RIF Payment Amount. Funds in an RIF are allowed to grow tax-sheltered (similar to RSPs) until taken out of the fund, at which point the funds withdrawn are taxed as income. Clients are able to withdraw funds on top of the minimum RIF Payment Amount, however these withdrawals are subject to government withholding taxes.

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What is an indexing strategy?

What is a management fee?

What is an MER or Management Expense Ratio?

What does ‘No Load’ mean?

What is a distribution and how does it affect me?

What is an RSP?

What is Dollar Cost Averaging and what are its benefits?


 

What is an indexing strategy?

Our Funds use an indexing strategy which involves investing in an entire market. This takes away the guesswork of picking and choosing individual investments. History has shown us that over the long term, most actively managed funds don’t outperform the market, so we see indexing as a smarter approach for long-term growth potential, keeping more of your money working harder for you.

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Source: Investor Economics (2016). Investor Economics Insight January 2016 Annual Review.

 

What is a management fee?

A management fee is the fee that's paid to the portfolio manager to manage or invest your money.

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What is an MER or Management Expense Ratio?

A management expense ratio is the management fee (see the previous question) plus the additional expenses the fund incurs. You can find more information about the MER in a fund company's prospectus.

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What does ‘No Load’ mean?

‘No Load’ means you don't pay any fees when you purchase or sell your investment fund. Some investment funds purchased through other fund companies have either a front-end or a back-end load structure. The type of load refers to the timing of when the fee is charged.

Front-end means you pay up front. Let's assume that you have $10,000 to invest and the load fee is 2%. That would equal a fee of $200, which is then subtracted from your $10,000. So you really would invest $9,800. You don't pay any fees after that.

A back-end load or deferred sales charge (DSC) means that you pay the fees when you sell your investment. Usually if you sell anytime during the first seven years you would pay a percentage of the original purchase amount or the value of your Account on that day. These fees are charged in order to pay the advisor for giving you advice.

At Tangerine Investment Funds Limited, we sell funds on a ‘No Load’ basis, which means you never pay a fee to buy or sell your funds.

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What is a distribution and how does it affect me?

A distribution is income paid to unit holders of an investment fund on a monthly, quarterly or annual basis. The distribution can take the form of interest, dividend or capital gain or a combination of all three. A distribution affects a non-registered Account, as the amount of the distribution is taxable. Distributions are not taxable when paid to an RSP, TFSA or Investment Fund Account.

If you hold an investment fund in a non-registered Account and your investment fund pays a distribution, the fund company will mail you a tax slip (called a T3) that you will use to claim the distribution.

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What is an RSP?

An RSP is a Retirement Savings Plan that is registered with Canada Customs and Revenue Agency (CCRA). It allows you to save money for your retirement on a tax-sheltered basis (you don't pay tax on the income your investments earn until you withdraw the money from your RSP). You can choose to invest your money in several different options including savings Accounts, term investments and investment funds. When you retire, you begin to withdraw the money from your RSP, as you need it, for example from your RIF (Retirement Income Fund).

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What is Dollar Cost Averaging and what are its benefits?

Dollar Cost Averaging is an investment strategy that involves regular investments over a period of time into the same investment fund. It allows you to buy more investment fund units when the price is low, and fewer when the price is high, helping to reduce the average price you pay per unit over the long term.

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