A survey of Canadian mutual fund investors for the Investment Funds Institute of Canada (IFIC), found that 80 per cent of investors would favor receiving a two-page summary document about their investment, compared to 12 per cent who said they expected to receive a full annual report.
The poll of 1,865 people, conducted by market research firm Pollara, also found that 91 per cent felt that they had access to the right information to enable them to make an informed decision prior to investing.
The majority of investors (85 per cent) said that they had bought their mutual funds through an advisor, with 94 per cent of such respondents having discussed their tolerance to risk and overall investment objectives with a third party.
Most investors said that they stayed in touch with the performance of their investments through their account statement, with 95 per cent of respondents stating that they read the quarterly or monthly statements about their mutual funds.
Commenting on the results of the survey, IFIC president and chief executive Joanne De Laurentis said: "The numbers confirm our belief that confidence and knowledge levels among mutual fund investors are strong."