Savings Fund

December 31, 2025

Market Context

• The Bank of Canada cut its policy rate throughout the year, lowering it to 2.25% from 3.50%, as inflation continued to ease toward target.
• Economic growth remained better than expected. Employment held up and inflation stayed within the Bank of Canada’s target range, supporting a period of rate stability and a more predictable short-term rate environment. 

Positioning

• The Saving Fund’s fee was lowered to 0.40% (from 0.45%) on January 1, 2026.  
• The fund moved to being managed by Purpose Investments’ in-house money market team in the fourth quarter and is transitioning to own units of the Purpose Cash Management Fund. 
• Over 60% of fund assets have now been transitioned. The team only makes changes to the fund as previously held money market instruments mature. This ensures no impact on liquidity, taxes, or trading costs. 

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Important information about the Steadyhand funds is contained in our Simplified Prospectus. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.