IFIC Announces Board of Directors for 2015-2016
September 10, 2015
Toronto, ON September 10, 2015 The Investment Funds Institute of Canada (IFIC) is pleased to announce its board of directors for the 2015-2016 year.
John Adams (CEO, PFSL Investments Canada) becomes chair after serving as first vice-chair for the past year. Ross Kappele (EVP and head of retail distribution, BMO Asset Management Canada) becomes first vice-chair.
This is an exciting time for the Canadian investment funds industry, as we continue to work together and with our regulators to identify and implement measures to improve the investor experience, said Adams. Our efforts are clearly working, as Canadians are continuing to show confidence in mutual funds as their savings vehicle of choice, he added.
In 2014, for the first time, Canadians placed considerably more money in investment funds (35 per cent of household financial wealth in mutual funds, ETFs and segregated funds) than in deposits (32 per cent), reflecting the steady growth in confidence that investment funds have experienced over the past two decades. Further evidence of this confidence is found in Pollaras annual survey of Canadian investors.
As we look toward 2016, IFIC will continue to spearhead initiatives that improve investor understanding, strengthen professionalism within the industry, foster financial literacy and protect vulnerable investors, said Joanne De Laurentiis, IFICs president and CEO.
Adams acknowledged the strong leadership role played by outgoing chair Brian Peters (president & CEO, MD Financial Management), who has been at the helm of IFICs board since 2013.
The industry appreciates Brians leadership over the past two years, particularly in shepherding IFICs early response to CRM2 and its implications for investors, advisors and dealer firms, Adams commented.
I look forward to working closely with the new board over the coming year to continue to advance IFICs key priorities at this important time in the industrys history, he added, particularly as we continue to pursue several initiatives to deliver a better investor experience.
The Investment Funds Institute of Canada is the voice of Canadas investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canadas savers to Canadas economy, our industry contributes significantly to Canadian economic growth and job creation. The organization is proud to have served Canadas mutual fund industry and its investors for more than 50 years.
IFIC and its members work with public policymakers to ensure that policy and regulatory decisions are taken with full knowledge of their potential impact on investors and investment funds providers, and with a view to creating a level playing field across financial products and services. As of July 31, 2015, Canadians have accumulated savings of $1.24 trillion in mutual funds.
For more information:
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Senior Manager, Public Affairs
The Investment Funds Institute of Canada (IFIC)
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