Mutual Fund FAQs

A: A mutual fund is an investment fund that pools money from many investors to purchase securities such as stocks, bonds, and other assets.

A: Mutual funds have diversified investment holdings and are professionally managed. They are also typically low cost with low minimum initial investments. The CFAL Funds start at $1,000 initial investment and additional investments of $100 for our BSD funds and $5,000 initial investment and additional investments of $1,000 for our USD funds.

A: No investment is 100% risk free and mutual funds are no different. CFAL does not offer a guaranteed return on any of our mutual funds and the value of your investment can fluctuate. We offer a selection of mutual funds with different risk levels to suit a variety of investors. All of our funds are actively managed with the goal of minimizing risk.

A: Yes, all CFAL funds are registered with and regulated by the Securities Commission of the Bahamas. The Funds are also independently administered by Genesis Fund Services, and audited annually by Baker Tilly.

A: The Net Asset Value or NAV is the per share market value of the Fund. It is the price at which investors can subscribe to (buy) or redeem from (sell) from the Fund.

A: No, the CFAL mutual funds do not pay dividends. Instead, any income earned is reinvested in accordance with the Fund investment strategy.

A: CFAL mutual funds do not charge any subscription or redemption fees. The Funds are charged management fees, administration fees and other professional fees which are not directly paid by investors. The investor receives the net of fees return.

A: There are no lock up periods associated with the CFAL Mutual Funds.

A: You can access the various subscription forms on the CFAL website at www.cfal.com/mutual-funds. CFAL mutual funds have various subscription deadlines, please see Table 1 for more information.

The below KYC documents are Rrequired to subscribe to our funds:

• Copy of valid passport including the photo and signature pages. Note: The signature on subscription form must match the signature on passport. Digital signatures are accepted as long as the digital signature matches passport signature.
• Copy of valid NIB card
• Copy of valid Residency Card (investor must have unrestricted right to work)
• Copy of Proof of Address (utility bill/ bank or credit card statement/ voter’s card). Any utility bills or statements should be no more than 3-months old.

Electronic submission of documents is accepted. Completed forms and supporting documents should be sent to investors@genesisfundservices.com. Each mutual fund has a different bank account with CIBC Caribbean and the subscription forms include the bank account details to transfer your initial subscription to. Each mutual fund has a different bank account with CIBC Caribbean.

Note that your subscription will only be considered complete once all necessary KYC documents have been received as well as proof of transfer of your initial investment amount.

A: Your beneficiary is the individual that you wish to inherit your CFAL mutual fund investment should you pass away. In the event of your death, the beneficiary would be able to access the investment by presenting a copy of the death certificate along with their identification to the Fund Administrator; there is no need to go through probate via the courts. Should you wish to assign more than one beneficiary, you can complete the supplementary beneficiary form which is available on our website. The allocation percentages must add up to 100%. The contingent beneficiary is entitled to the funds only if all the beneficiaries have passed away. Investors should frequently review their beneficiaries to ensure that they are up to date.

The contingent beneficiary is entitled to the funds only if all the beneficiaries have passed away. We encourage you to frequently review your beneficiaries to ensure that they are up to date.

A: Yes, however funds will only be accessible by the minor when they reach the age of 18. Alternatively, you can choose to name an adult that you trust to hold the funds in trust for the minor until they turn 18. E.g. Jane Doe in trust for Adam Smith.

A: Revocable means that you can change the beneficiary at any time. Irrevocable means that you can never change it, unless the beneficiary passes away.

A: You can subscribe to or redeem from our mutual funds depending on the NAV frequency. Please see Table 1 for more information.

A: Confirmations details vary according to the Fund. Please see Table 1 for more information.

A: Redemption forms are available on our website. The completed form along with a copy of your passport should be submitted to investors@genesisfundservices.com. CFAL Mutual Funds have various redemption deadlines. Please see Table 1 for more details. Redemption forms are available on our website. Form along with a copy of your passport should be submitted to investors@genesisfundservices.com.

A: New investors can request online access by selecting the appropriate option on the subscription form. Existing investors can send an email to investors@genesisfundservices.com requesting access.

A: Please send an email including your account details to investors@genesisfundservices.com to request a password reset.