May 6, 2016
I agree that I do not have time to read the prospectuses which are lengthy and complex. I would much rather have the monthly statement sent by my financial institution, detail all expenses that my fund has incurred and on what dates. Recently I made a day purchase of a bond fund for about $38,000 which I thought I had to pay $82.73 per unit, as published next day by the bond fund and morningstar. My financial institution charged me $82.83 per unit and I don't know why, plus the $8.95 commission they always charge for any transaction. I sent an email with a document attached showing the price at the time of the transaction and have not even received a reply. They show the settled date for the transaction for a few days afterward. Shouldn't the settled date be only for 24 hours since this was only a day transaction? Same thing happens when I sell a fund. It is so discouraging. I never know what the real price will be until 3 or 4 days later.