Collective Investment Funds
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What is a collective investment fund (CIF)?
A CIF is a trust that pools assets from multiple clients and is held by a bank or trust company. The federal securities laws generally require entities that pool securities to register those pooled vehicles (such as mutual […]
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How are Collective Investment Funds (CIFs) regulated?
For national banks, a Collective Investment Fund (CIF) must be established under state trust law. It must be operated in compliance with banking regulations established by the Office of the Comptroller of the Currency (OCC) […]
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Is a Collective Investment Fund (CIF) like a mutual fund?
A CIF is similar to a mutual fund, but there are a number of important differences. Similar to a mutual fund, a CIF is a pooled vehicle for investments. To invest in a mutual fund, an individual only needs to meet the […]
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Is my money guaranteed in a collective investment fund (CIF)?
No. The funds invested in a CIF are not guaranteed either by the bank offering the CIF or by the Federal Deposit Insurance Corporation (FDIC). The investment risk of a CIF is 100 percent borne by the CIF participant, just […]
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Where do I get information on my collective investment fund (CIF)? How do I know what securities are owned by my CIF?
There are two sources of information about your CIF: The bank that maintains the CIF (known as the sponsor) The company that provides the CIF as an employee investment option You can request a written or electronic […]
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Will it cost me less in expenses to invest in a collective investment fund (CIF) rather than a mutual fund with the same investment strategy?
Not necessarily. However, because CIFs have special eligibility requirements, they do not incur the expenses associated with service to retail clients. This often allows CIFs to charge lower total expenses than mutual funds […]
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