Canadian Synthetic Money Market – Deleted

The Canadian Synthetic Money Market Fund category includes funds that seek to obtain money-market-like returns by investing in a basket of equity securities or in one or more equity funds and then entering into forward, swap or similar derivatives contracts with a counter party or counterparties in order to replicate the returns of: A) A specific Canadian Money Market fund (“a reference fund”) that satisfies the money market fund definition as set out in National Instrument 81-102 or, B) A portfolio of Canadian dollar denominated money market securities (“a reference portfolio”) that would satisfy the money market fund definition as set out in National Instrument 81-102 if that portfolio were offered for sale publicly. Canadian Synthetic Money Market funds may also invest directly in Canadian dollar denominated money market securities or in the underlying Canadian Money Market fund, at any time, in cases where the fund manager considers it would be beneficial to security holders to do so. Note: The CIFSC has made the decision to categorize synthetic funds in the same category as the underlying funds that they track except in the case of Money Market funds where this new fund category was created to explicitly delineate between ‘money market’ funds that meet the strict Money Market fund definition as set out in National Instrument 81-102 and those that do not.