Higher Yield and Lower Fees: Here’s How We’re Improving the Steadyhand Savings Fund

When you invest with Steadyhand, your money is managed with one goal in mind – helping you achieve better financial outcomes with confidence and clarity. To keep your cash working harder, we’re evolving the Steadyhand Savings Fund to deliver higher yields and lower fees.

On October 31, 2025, the fund will transition to be managed by Purpose Investments to take advantage of its dedicated money-market expertise, institutional scale, and a process that has produced higher yield while preserving security. With this transition, the One Simple Fee on the fund will be reduced from 0.45% to 0.40% as of January 1, 2026.

This change strengthens how we manage your cash investments by connecting them to one of Canada’s largest, most trusted and innovative cash management platforms.

Who is Purpose Investments?

Founded in 2012, Purpose Investments is a Canadian-owned, independent asset manager focused on delivering innovative, high-quality investment solutions. In 2013, Purpose launched the world’s first high-interest savings ETF, the Purpose High Interest Savings Fund, redefining how investors think about cash management and setting a new standard for yield, stability, and accessibility.

Today, Purpose manages over $27 billion across a broad range of ETFs and mutual funds. The firm is led by entrepreneur Som Seif and operates as part of Purpose Unlimited – a modern financial services platform that leverages technology to empower Canadians. Through its businesses in asset management, advisor services, and small business lending, Purpose is committed to helping investors, entrepreneurs, and advisors grow with confidence and take control of their financial futures.

Why this transition is a good thing for investors

This update is about improving outcomes for Steadyhand clients while keeping the experience simple and familiar. Here’s what it means for you:

• ✅ Competitive yields – The Steadyhand Savings Fund will hold the Purpose Cash Management Fund (MNY), which has historically outperformed the Steadyhand Savings Fund by 5–15 basis points per year (that’s 0.05% to 0.15%), even after fees, thanks to its active money market strategy.

Funds Comparison

Source: Morningstar Direct as at September 30, 2025
*Common inception: 2022-09-15 to 2025-09-30
Purpose Cash Management Fund 7-day Gross Yield: 2.97%; 7-Day Net Yield: 2.50% as at October 28, 2025
Steadyhand Savings Fund 7-Day Gross Yield: 2.62%; 7-Day Net Yield: 2.17% as at October 28, 2025

• ✅ No taxable impact – This transition is seamless and won’t result in realized gains.
• ✅ Professional oversight – Your investments continue to be professionally managed within a trusted, disciplined framework.
• ✅ Aligned fees – Your fees will fall from 0.45% to 0.40% on January 1, 2026 – no new costs or hidden charges.
• ✅ Liquidity – You’ll retain full flexibility and access without any disruption to how you manage your account.
• ✅ Long-term confidence – By integrating with Purpose’s Cash platform, Steadyhand clients benefit from the same innovation, scale, and efficiencies that have made Purpose a leader in the Canadian cash market.

Our shared philosophy

This transition reflects our shared belief that investing should be transparent, accessible, and client-focused. Purpose and Steadyhand both believe in simplicity – managing money without unnecessary complexity – and in putting client interests first.

By working together, we’re building a more unified and resilient platform that will continue to evolve with your needs. The change enhances performance potential while maintaining the same principles of clarity, discipline, and trust that define Steadyhand.

The bottom line: your money stays safe, accessible, and professionally managed – now on a platform designed for the future.

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values change frequently, and past performance may not be repeated.