Tangerine Money Market Fund FAQs
1. What is the Tangerine Money Market Fund?
This mutual fund is a stable, low-fee1 Tangerine Investment Fund that aims to protect the value of your investment even through volatile times in the market. It invests in a series of fixed income, cash, and cash equivalent holdings.
You get the benefits of mutual funds - such as automatic purchases, rebalancing, dividend and interest reinvesting. And because the Money Market Fund is held in a mutual fund, it’s easy to invest in them, you don’t need to research, buy, sell and rebalance the Fund yourself.
2. What are the investment fees for the Money Market?
The Tangerine Money Market Fund's expenses are made up of the management fee (including trailing commission), operating expenses, trading costs, and fixed administration fee. The annual management fee is 0.50% of the Fund’s value. The annual fixed administration fee is 0.15% of the Fund’s value. Because this Fund is new, its operating expenses and trading costs are not yet available.
3. How do I switch between Tangerine Investment Funds online?
To switch your existing Portfolio:
Step 1: Log in, if you aren’t already logged in.
Step 2: Select the Account you’d like to switch and then go to the Account Details screen.
Step 3: Select ‘Switch my Portfolio’, and we’ll take you through your Investor Profile.
Step 4: Select the Fund you’d like to invest in, and accept the Terms and Conditions.
After a few business days, the switch will be complete.
4. How do I purchase a Tangerine Money Market Fund?
Start by becoming a Client, if you aren’t already one. Then, when you’re ready to open your Investment Fund Account, we’ll ask you some questions to create your Investor Profile. At the end, we’ll recommend the most suitable Investment for you. Select the Fund you’d like to invest in.
With Tangerine Investment Funds, you can buy and sell funds when you’re logged in online. You can also set up an Automatic Purchase on your Investment Fund Account by clicking “Automatic Purchases”. Remember, your online balance doesn’t include trades that haven’t yet settled.
5. Can I automate my investments with the Tangerine Money Market Fund?
Yes, similar to our Tangerine Core and Global ETF Portfolios, and Tangerine Socially Responsible Global Portfolios, our Money Market Fund allows you to invest on autopilot. We take care of rebalancing, dividend and interest reinvesting, and automatic contributions.
6. Where can I find the simplified prospectus for the Money Market Fund?
The simplified prospectus and fund facts relating to the Money Market Fund can be found online at tangerine.ca/investments or SEDAR+ (the System for Electronic Document Analysis and Retrieval established by the Canadian Securities Administrators) website at www.sedarplus.com
7. Is there a minimum amount to invest?
You can get started with as little as $25. After that, there are no minimums for subsequent purchases.
8. Can I invest in the Money Market Fund through a registered Account?
Yes, all of our Portfolios can be held in registered Tangerine Investment Fund Accounts, including RSP, RIF and Tax-Free Investment Fund Accounts.
9. What is the Tangerine Money Market Fund made up of? Does it include stocks and bonds?
Our Money Market Fund is a mutual fund that holds a selection of fixed income, cash, and cash equivalents. This Fund doesn’t include stocks. It’s designed to protect your investment from market fluctuations while aiming for modest returns for risk averse investors.
10. Who manages the Money Market Fund?
This Fund is managed by Tangerine Investment Management Inc.
11. What are the fundamental investment objectives of the Tangerine Money Market Fund?
The Fund seeks to earn interest income, preserve capital and liquidity by investing in money market instruments or money market funds, which invest primarily in high-quality short-term fixed income securities issued by Canadian federal, provincial and municipal governments, Canadian chartered banks, trust companies and corporations, generally maturing in not more than one year.
The MER for the Tangerine Portfolios for the period ended June 30, 2022 ranged from 0.76% to 1.06% after applicable waivers and absorptions by the manager. Each Tangerine Investment Fund offers one series of units, and is considered equivalent to an A-series mutual fund. “A-series mutual funds” often refers to the standard “one-size-fits-all” funds that have traditionally populated the Canadian mutual funds universe. According to the Investor Economics Insight report dated June 2023, the asset weighted MER for A-series mutual funds for the year ending December 2022 was 1.91%.
Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed or insured by the Canada Deposit Insurance Corporation or any other government deposit insurer, their values change frequently and past performance may not be repeated. There can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. All securities, including mutual funds present a risk of loss of capital.
Tangerine is a registered trademark of The Bank of Nova Scotia, used under license. The Tangerine Investment Funds are managed by 1832 Asset Management L.P. and are available by opening a mutual fund account with Tangerine Investment Funds Limited (“Tangerine Investments”). Tangerine Funds are proprietary and sold only by Tangerine Investments. Tangerine Investment Funds Limited and 1832 Asset Management L.P. are wholly owned subsidiaries of The Bank of Nova Scotia.