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Old 06-01-2015, 09:50 PM   #4
Slava
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Join Date: Dec 2006
Location: Calgary, Alberta
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Quote:
Originally Posted by Derek Sutton View Post
Thanks, I knew you wouldn't be able to speak to my case specifically! But I was more curious if this is common or a one time occurrence where a delay has occurred for whatever reason or if you could shed some light as to why this has happened. Does Manulife use the money in the mean time to make themselves some money?


We have most of our investments through Investors Group and I know there, they have some funds that you can only buy into once or twice a month, so I believe a portion on the monthly contribution is basically held in trust in the mean time, atleast that is how I understand it anyways.
Well all I can really say is that in the group plans I have set-up the funds basically go from the employer to the employee accounts with no stop that I am aware of in between. Like the funds don't go into a Manulife account that I know of beforehand or anything like that.

I'm not sure of the arrangement at Investors Group that you're referring to. Perhaps its a specific type of account that you hold there and that's the reason for the delay in purchasing? Most of their funds are just plain mutual funds that I'm aware of and you can buy them basically whenever the market is open. That could be different though because everything there is proprietary and so I could well be unaware of specifics. Feel free to PM me though if you have more specific questions and I can try to help you on that front.
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