The Securities Commission has granted an exemption to a financial management firm, allowing them to consolidate the simplified prospectuses of alternative mutual funds with those of conventional mutual funds. This decision is based on the premise that such consolidation will reduce costs and facilitate easier distribution and comparison of fund features for investors. The exemption is supported by the fact that exchange-traded funds (ETFs) are already permitted to consolidate prospectuses for alternative and conventional funds under National Instrument 41-101, suggesting mutual funds should be similarly accommodated under National Instrument 81-101. The firm in question is in good regulatory standing and the funds involved are, or will be, reporting issuers in Canada. The exemption is contingent on the continued provision of individual fund facts documents to investors, maintaining transparency and adherence to existing securities legislation.
