U.S Dollar Funds – Quadrus – London Life
U.S. Dollar Funds
Quadrus
Overview – Understanding the U.S. dollar option
| U.S. dollar priced funds should be considered for the convenience of clients who want to spend U.S dollars.
Features of holding U.S. dollar priced funds: · There is no investment merit to holding the USD-priced over the CAD-priced version of the same fund as purchases and redemptions are handled in U.S. dollars. · For any fund that has a USD option, the Fund units are part of the same pool of assets as the CAD priced Fund units. For USD-priced units, we take the CAD price and convert that price to USD. |
Requirements
| Transaction type | Conditions | ||||||||||
| Opening a plan & placing purchases | U.S dollar funds:
· Only permitted on client-held, non-registered plans · Cannot be combined into an account with Canadian Dollar funds – a new account application will be needed · Not permitted into U.S. Dollar plans Ø EFT purchases Ø Systematic transactions (PAC/AWD) Purchases: *Do not place purchases for U.S funds on Investment Centre.
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| Switches and Redemptions
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· Enter Switch and redemption transactions through Investment Centre on a U.S dollar plan.
· Switches cannot be placed from U.S. dollar funds into Canadian dollar funds · Redemptions cannot be paid out via EFT. Proceeds will be issued by cheque in U.S dollars. |
Submit paperwork
| Format accepted: | Purchases | Switch/Redemption | |
| To: | Head office | Original | Fax |
| Use complex cover sheet – 46-8875 | |||
| Branch | Original | Original | |
| Client/Policyowner | Copy | Copy | |
| Representative | Copy | Copy | |
| Inter-office mail: | London T-424
Montreal R5301 |
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| Fax: | 1-877-814-6492 London
1-866-790-0911 Montreal |
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Help
| Contact: | Call your Advisor Services Representative (ASR):
Contact us > Investments > Quadrus Investment Services Ltd. > ASR Contact list |
Source: https://iiipadvisor.freedom55financial.com/portal/stellent/groups/public/documents/S1_277746.htm