Policy Advisory on the definition of Mutual Fund and Pooled Fund

In May 2014, OSFI published a policy advisory on the definition of “mutual fund” and “pooled fund” in Schedule III of the Pension Benefits Standards Regulation, 1985 (PBSR) as those terms relate to a fund established as a limited partnership by a corporation.  The purpose of the policy advisory is to communicate OSFI’s interpretation of the requirements for when such a fund would meet the definition of a “mutual fund” or “pooled fund” under the PBSR.