Important news for mutual fund investors
Your trade settlement cycle is getting shorter. Here’s how it will affect you.
In alignment with the Canadian mutual fund industry, Educators is changing its settlement cycle to T+1.
Right now, when you buy or sell mutual funds through Educators Financial Group, settlements occur 2 business days after the trade date. (This is called “T+2”.) Starting May 27, 2024, the trading time will change to “T+1” – 1 day after the trade date.
What does this mean for you?
Under the new “T+1” settlement cycle, certain mutual funds will settle on the next business day, following the transaction date. For purchase transactions, this means your funds will be invested one day sooner and for redemptions (withdrawals), this means your funds will be posted to your account one day sooner, too. “T+1” will give you access to your funds one day sooner, making it available for whatever you need it for one day earlier.
Questions? We’re here for you.
At Educators, we’re proud of the service we offer our investment clients, whether through our highly trained financial advisors who are experienced with the needs of the education community, or through our adherence to the standards and guidelines of the investment industry.
If you have any questions about the change in settlement cycle, please do not hesitate to give your financial advisor a call at 1.800.263.9541
