Section 1.1 definition of "financial statements" was added by BC Reg 265/2013, effective January 1, 2014.
Section 1.1 definition of "net asset value" BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
"net asset value" means the value of the total assets of the investment fund less the value of the total liabilities of the investment fund, as at a specific date, determined in accordance with Part 14;
Section 1.1 definition of "publicly accountable enterprise" and "statement of changes in financial position" were added by BC Reg 265/2013, effective January 1, 2014.
Section 1.1 definition of "designated rating" was added by BC Reg 111/2018, effective June 12, 2018.
Section 1.1 definitions of "information circular", "intermediary", "meeting", "NOBO", "notice-and-access", "notification of meeting and record dates", "proximate intermediary", "proxy-related materials", "send" and "stratification" were added by BC Reg 344/2021, effective January 5, 2022.
Section 1.1 definition of "designated rating" BEFORE amended by BC Reg 344/2021, effective January 5, 2022.
"designated rating" has the same meaning as in paragraph (b) of the definition of "designated rating" in National Instrument 81-102 Investment Funds;
Section 1.1 definition of "material contract" BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
"material contract" means, for an investment fund, a document that the investment fund would be required to list in an annual information form under Item 16 of Form 81-101F2 if the investment fund filed a simplified prospectus under National Instrument 81-101 Mutual Fund Prospectus Disclosure;
Section 1.1 definition of "designated website" was added by BC Reg 345/2021, effective January 6, 2022.
Section 1.2 (3) BEFORE repealed by BC Reg 176/2014, effective September 22, 2014.
(3) In Saskatchewan, this Instrument does not apply to a Type B corporation within the meaning of The Labour-sponsored Venture Capital Corporations Act (Saskatchewan).
Section 1.3 (2) BEFORE amended by BC Reg 176/2014, effective September 22, 2014.
(2) Terms defined in National Instrument 81-102 Mutual Funds, National Instrument 81-104 Commodity Pools and National Instrument 81-105 Mutual Fund Sales Practices and used in this Instrument have the respective meanings ascribed to them in those Instruments except that references in those definitions to "mutual fund" must be read as references to "investment fund".
Section 1.3 (3) was added by BC Reg 176/2014, effective September 22, 2014.
Section 1.3 (2) BEFORE amended by BC Reg 111/2018, effective June 12, 2018.
(2) Terms defined in National Instrument 81-102 Investment Funds and used in this Instrument have the respective meanings ascribed to them in that Instrument.
Section 1.3 (3) BEFORE amended by BC Reg 287/2018, effective January 3, 2019.
(3) Terms defined in National Instrument 81-104 Commodity Pools or National Instrument 81-105 Mutual Fund Sales Practices and used in this Instrument have the respective meanings ascribed to them in those Instruments except that references in those definitions to "mutual fund" must be read as references to "investment fund".
Section 2.1 (1) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(1) An investment fund must file annual financial statements for the investment fund's most recently completed financial year that include
(a) a statement of net assets as at the end of that financial year and a statement of net assets as at the end of the immediately preceding financial year;
(b) a statement of operations for that financial year and a statement of operations for the immediately preceding financial year;
(c) a statement of changes in net assets for that financial year and a statement of changes in net assets for the immediately preceding financial year;
(d) a statement of cashflows for that financial year and a statement of cashflows for the immediately preceding financial year, unless it is not required by Canadian GAAP;
(e) a statement of investment portfolio as at the end of that financial year; and
(f) notes to the annual financial statements.
Section 2.3 BEFORE re-enacted by BC Reg 265/2013, effective January 1, 2014.
Interim financial statements
2.3 An investment fund must file interim financial statements for the investment fund's most recently completed interim period that include
(a) a statement of net assets as at the end of that interim period and a statement of net assets as at the end of the immediately preceding financial year;
(b) a statement of operations for that interim period and a statement of operations for the corresponding period in the immediately preceding financial year;
(c) a statement of changes in net assets for that interim period and a statement of changes in net assets for the corresponding period in the immediately preceding financial year;
(d) a statement of cashflows for and as at the end of that interim period and a statement of cashflows for the corresponding period in the immediately preceding financial year, unless it is not required by Canadian GAAP;
(e) a statement of investment portfolio as at the end of that interim period; and
(f) notes to the interim financial statements.
Section 2.7 (2) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(2) Audited financial statements must be accompanied by an auditor's report prepared in accordance with Canadian GAAS and the following requirements:
1. The auditor's report must not contain a reservation.
2. The auditor's report must identify all financial periods presented for which the auditor has issued an auditor's report.
3. If the investment fund has changed its auditor and a comparative period presented in the financial statements was audited by a different auditor, the auditor's report must refer to the former auditor's report on the comparative period.
4. The auditor's report must identify the auditing standards used to conduct the audit and the accounting principles used to prepare the financial statements.
Section 2.7 (3) was added by BC Reg 265/2013, effective January 1, 2014.
Section 2.9 (3) and (4) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(3) Despite section 2.4, an investment fund is not required to file interim financial statements for any period in a transition year if the transition year is less than nine months in length.
(4) Despite subsections 4.8 (7) and (8) of National Instrument 51-102,
(a) for interim financial statements for an interim period in the transition year, the investment fund must include as comparative information
(i) a statement of net assets as at the end of its old financial year; and
(ii) a statement of operations, a statement of changes in net assets, and, if applicable, a statement of cashflows, for the interim period of the old financial year;
(b) for interim financial statements for an interim period in a new financial year, the investment fund must include as comparative information
(i) a statement of net assets as at the end of the transition year; and
(ii) a statement of operations, a statement of changes in net assets, and, if applicable, a statement of cashflows, for the period that is one year earlier than the interim period in the new financial year.
Section 2.10 (j) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(j) if applicable, the periods, including the comparative periods, if any, of the interim and annual financial statements required to be filed for the investment fund's first financial year following the transaction.
Section 2.12 (2) to (4) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(2) If an auditor has not performed a review of the interim financial statements required to be filed, the interim financial statements must be accompanied by a notice indicating that the interim financial statements have not been reviewed by an auditor.
(3) If an investment fund engaged an auditor to perform a review of the interim financial statements required to be filed and the auditor was unable to complete the review, the interim financial statements must be accompanied by a notice indicating that the auditor was unable to complete a review of the interim financial statements and the reasons why.
(4) If an auditor has performed a review of the interim financial statements required to be filed and the auditor has expressed a reservation in the auditor's interim review report, the interim financial statements must be accompanied by a written review report from the auditor.
Section 3.1 (part) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
3.1 The statement of net assets of an investment fund must disclose the following as separate line items, each shown at current value:
Section 3.1, items 14 and 15 BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
14. total net assets and securityholders' equity and, if applicable, for each class or series.
15. net assets per security, or if applicable, per security of each class or series.
Section 3.2 BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
Statement of operations
3.2 The statement of operations of an investment fund must disclose the following information as separate line items:
1. dividend revenue.
2. interest revenue.
3. income from derivatives.
4. revenue from securities lending.
5. management fees, excluding incentive or performance fees.
6. incentive or performance fees.
7. audit fees.
8. directors' or trustees' fees.
8.1 independent review committee fees.
9. custodial fees.
10. legal fees.
10.1 commissions and other portfolio transaction costs.
11. securityholder reporting costs.
12. capital tax.
13. amounts that would otherwise have been payable by the investment fund that were waived or paid by the manager or a portfolio adviser of the investment fund.
14. provision for income tax.
15. net investment income or loss for the period.
16. realized gains or losses.
17. unrealized gains or losses.
18. increase or decrease in net assets from operations and, if applicable, for each class or series.
19. increase or decrease in net assets from operations per security or, if applicable, per security of each class or series.
[am. B.C. Regs. 276/2006, Sch D, s. 3; 240/2008, s. 5.]
Section 3.3 BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
Statement of changes in net assets
3.3 The statement of changes in net assets of an investment fund must disclose, for each class or series, the following as separate line items:
1. net assets at the beginning of the period to which the statement applies.
2. increase or decrease in net assets from operations.
3. proceeds from the issuance of securities of the investment fund.
4. aggregate amounts paid on redemption of securities of the investment fund.
5. securities issued on reinvestment of distributions.
6. distributions, showing separately the amount distributed out of net investment income and out of realized gains on portfolio assets sold, and return of capital.
7. net assets at the end of the period reported upon.
Section 3.4 BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
Statement of cashflows
3.4 The statement of cashflows of an investment fund must disclose the following as separate line items:
1. net investment income or loss.
2. proceeds of disposition of portfolio assets.
3. purchase of portfolio assets.
4. proceeds from the issuance of securities of the investment fund.
5. aggregate amounts paid on redemption of securities of the investment fund.
6. compensation paid in respect of the sale of securities of the investment fund.
Section 3.5 (4) and (5) BEFORE repealed by BC Reg 96/2012, effective April 30, 2012.
(4) Despite subsection (1) and (3) and subject to subsection (2), the information referred to in subsection (1) may be provided in the aggregate for those short term debt instruments that
(a) are issued by a bank listed in Schedule I, II or III to the Bank Act (Canada) or a loan corporation or trust corporation registered under the laws of a jurisdiction, or
(b) have achieved an investment rating within the highest or next highest categories of ratings of each approved credit rating organization.
(5) If an investment fund discloses short term debt instruments as permitted by subsection (4), the investment fund must disclose separately the aggregate short term debt instruments denominated in any currency if the aggregate exceeds 5% of the total short term debt.
Section 3.5 (6) (d) BEFORE amended by BC Reg 179/2013, effective May 31, 2013.
(d) if a rating of a counterparty has fallen below the approved credit rating level.
Section 3.5 (1) 2 (c) BEFORE amended by BC Reg 176/2014, effective September 22, 2014.
(c) for a debt instrument referred to in the definition of "money market fund" in National Instrument 81-102 Mutual Funds, the name, interest rate and maturity date of the instrument; and
Section 3.6 (1) BEFORE amended by BC Reg 96/2012, effective April 30, 2012.
3. to the extent the amount is ascertainable, the soft dollar portion of the total commissions and other portfolio transaction costs paid or payable to dealers by the investment fund, where the soft dollar portion is the amount paid or payable for goods and services other than order execution.
Section 3.6 (1), item 1.1 was added by BC Reg 265/2013, effective January 1, 2014.
Section 3.6 (1), items 4 and 5 BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
4. the total cost of distribution of the investment fund's securities recorded in the statement of changes in net assets.
5. the net asset value per security as at the date of the financial statements compared to the net assets per security as shown on the statement of net assets, and an explanation of each of the differences between these amounts.
Section 3.6 (3) was added by BC Reg 265/2013, effective January 1, 2014.
Section 3.8 (2) and (3) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(2) The statement of net assets of an investment fund that has received cash collateral from a securities lending transaction that is outstanding as of the date of the financial statements must disclose separately
(a) the cash collateral received by the investment fund; and
(b) the obligation to repay the cash collateral.
(3) The statement of operations of an investment fund must disclose income from a securities lending transaction as revenue.
Section 3.9 (2) and (3) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(2) The statement of net assets of an investment fund that has entered into a repurchase transaction that is outstanding as of the date of the statement of net assets must disclose separately the obligation of the investment fund to repay the collateral.
(3) The statement of operations of an investment fund must disclose income from the use of the cash received on a repurchase transaction as revenue.
Section 3.10 (2) and (3) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(2) The statement of net assets of an investment fund that has entered into a reverse repurchase transaction that is outstanding as of the date of the financial statements must disclose separately the reverse repurchase agreement relating to the transaction at current value.
(3) The statement of operations of an investment fund must disclose income from a reverse repurchase transaction as revenue.
Section 3.11 (1) (a) (iii) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(iii) a reconciliation of the total balances of the principal amounts and the accumulated income in the statement or schedule to the statement of net assets of the scholarship plan;
Section 3.11 (1) (c) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(c) a statement of scholarship awards paid to beneficiaries, and a reconciliation of the amount of scholarship awards paid with the statement of operations.
Section 3.11 (2) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(2) Despite the requirements of sections 3.1 and 3.2, an investment fund that is a scholarship plan may omit the "net assets per security" and "increase or decrease in net assets from operations per security" line items from its financial statements.
Section 4.2 BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
Filing of management reports of fund performance
4.2 An investment fund, other than an investment fund that is a scholarship plan, must file an annual management report of fund performance for each financial year and an interim management report of fund performance for each interim period at the same time that it files its annual financial statements or its interim financial statements for that financial period.
Section 5.1 (2) (b) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(b) interim financial statements;
Section 5.2 (5) (d) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(d) the securityholder can obtain the documents on the SEDAR website and on the investment fund's website, if applicable, and by contacting the investment fund.
Section 5.2 (5) (d) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
(d) the securityholder can obtain the documents on the SEDAR website and on the investment fund's designated website and by contacting the investment fund.
Section 5.3 (4) (b) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(b) the documents are available on the SEDAR website and on the investment fund's website, if applicable, and by contacting the investment fund.
Section 5.3 (4) (b) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
(b) the documents are available on the SEDAR website and on the investment fund's designated website and by contacting the investment fund.
Section 6.2 (2) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(2) An investment fund that has a website must post to the website the quarterly portfolio disclosure within 60 days of the end of the period for which the quarterly portfolio disclosure was prepared.
Section 8.2 (d) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(d) for a statement of investment portfolio contained in interim financial statements, the labour sponsored or venture capital fund obtained and filed the independent valuation referred to in paragraph (c) in connection with the preparation of the most recent annual financial statements of the labour sponsored or venture capital fund; and
Section 8.5 (b) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(b) include a statement in the valuation report, signed by the independent valuator, in substantially the following form:
"We refer to the independent valuation of the [net assets/venture investments] of [name of labour sponsored or venture capital fund] as of [date of financial year end] dated [date]. We consent to the filing of the independent valuation with the securities regulatory authorities."
Section 9.2 was renumbered as 9.2 (1) by BC Reg 22/2025, effective March 3, 2025.
Section 9.2 (2) was added by BC Reg 22/2025, effective March 3, 2025.
Section 9.4 (2) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(2) An annual information form required to be filed must be prepared in accordance with Form 81-101F2, except that
(a) a reference to "mutual fund" must be read as a reference to "investment fund";
(b) General Instructions (3), (10) and (14) of Form 81-101F2 do not apply;
(c) subsections (3), (4) and (6) of Item 1.1 of Form 81-101F2 do not apply;
(d) subsections (3), (4) and (6) of Item 1.2 of Form 81-101F2 do not apply;
(e) Item 5 of Form 81-101F2 must be completed in connection with all of the securities of the investment fund;
(f) Item 15 of Form 81-101F2 does not apply to an investment fund that is a corporation, except for the disclosure in connection with the independent review committee; and
(g) Items 19, 20, 21 and 22 of Form 81-101F2 do not apply.
Section 9.4 (2.1) to (2.3) were added by BC Reg 345/2021, effective January 6, 2022.
Section 9.4 (2.2) (f) (part) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
• These documents and other information about the Fund[s], such as information circulars and material contracts, are also available [on the [insert name of mutual fund] designated website at [insert investment fund designated website address] or] at www.sedar.com."
Section 10.2 (3) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(3) An investment fund that has not prepared an annual information form in accordance with Part 9 or in accordance with National Instrument 81-101 Mutual Fund Prospectus Disclosure must include a summary of the policies and procedures required by this section in its prospectus.
Section 10.4 (2) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(2) An investment fund that has a website must post the proxy voting record to the website no later than August 31 of each year.
Section 11.2 (1) (d) BEFORE amended by BC Reg 85/2017, effective March 8, 2017.
(d) file an amendment to its prospectus or simplified prospectus or fund facts document that discloses the material change in accordance with the requirements of securities legislation.
Section 11.2 (1) (b) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(b) post all disclosure made under paragraph (a) on the website of the investment fund or the investment fund manager;
Section 12.2.1 (a) (iii) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
(iii) the website addresses for SEDAR and the non-SEDAR website where the proxy-related materials are posted;
Section 12.2.1 (f) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
(f) in the case of a solicitation by or on behalf of management of the investment fund, or if another person or company soliciting proxies has requested a meeting, the notification of meeting and record dates is filed on SEDAR and that filing occurs on the same date that the notification of meeting and record dates is sent under subsection 2.2 (1) of National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer;
Section 12.2.1 (g) (i) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
(i) the documents are filed on SEDAR;
Section 12.2.1 (g) (ii) (B) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
(B) a website other than SEDAR, in the case of a solicitation by or on behalf of any other person or company;
Section 12.2.1 (i) (ii) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
(ii) in the case of a request received on or after the date of the meeting, and within one year of the date the information circular is filed on SEDAR, within 10 calendar days after receiving the request, by prepaid mail, courier or the equivalent;
Section 14.2 (3) and (7) BEFORE amended by BC Reg 96/2012, effective April 30, 2012.
(3) The net asset value of an investment fund must be calculated,
(a) if the investment fund does not use specified derivatives, at least once in each week; or
(b) if the investment fund uses specified derivatives, at least once every business day.
(7) An investment fund that arranges for the publication of its net asset value in the financial press must ensure that its current net asset value is provided on a timely basis to the financial press.
Section 14.2 (6.1) was added by BC Reg 96/2012, effective April 30, 2012.
Section 14.2 (2) BEFORE amended by BC Reg 176/2014, effective September 22, 2014.
(2) For the purposes of calculating net asset value for purchases and redemptions of its securities as required by Parts 9 and 10 of National Instrument 81-102 Mutual Funds, a labour sponsored or venture capital fund that has included a deferred charge for sales commissions in the calculation may continue to do so, provided that
(a) the calculation reflects the amortization of this deferred charge over the remaining amortization period, and
(b) the labour sponsored or venture capital fund ceased adding to this deferred charge by December 31, 2003.
Section 14.2 (7) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(7) An investment fund that arranges for the publication of its net asset value or net asset value per security in the financial press must ensure that its current net asset value or net asset value per security is provided on a timely basis to the financial press.
Section 15.1 (1) (a) (i) (A) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(A) total expenses of the investment fund, excluding commissions and other portfolio transaction costs, before income taxes, for the financial year or interim period, as shown on its statement of operations; and
Section 15.2 (1) (a) (i) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(i) multiplying the total expenses of each underlying investment fund, excluding commissions and other portfolio transaction costs, before income taxes, for the financial year or interim period, by
Section 15.2 (1 )(b) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(b) the total expenses of the investment fund, excluding commissions and other portfolio transaction costs, before income taxes, for the period.
Section 18.6 (1) BEFORE amended by BC Reg 176/2014, effective September 22, 2014.
(1) An investment fund that has obtained an exemption or waiver from, or approval under, securities legislation, National Policy 39, National Instrument 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Mutual Funds, National Instrument 81-104 Commodity Pools or National Instrument 81-105 Mutual Fund Sales Practices relating to its continuous disclosure obligations is exempt from any substantially similar provision of this Instrument to the same extent and on the same conditions, if any, as contained in the exemption, waiver or approval, unless the regulator or securities regulatory authority has revoked that exemption, waiver or approval under authority provided to it in securities legislation.
Form 81-106F1, Part A, item 1, paragraphs (e) and (f) BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
(e) What is Material?
Would a reasonable investor's decision to buy, sell or hold securities of an investment fund likely be influenced or changed if the information in question was omitted or misstated? If so, the information is material. This concept of materiality is consistent with the financial reporting notion of materiality contained in the Handbook. In determining whether information is material, take into account both quantitative and qualitative factors.
(f) Terminology
All references to "net assets" or "net assets per security" in this Form are references to net assets determined in accordance with Canadian GAAP as presented in the financial statements of the investment fund. All references to "net asset value" or "net asset value per security" in this Form are references to net asset value determined in accordance with Part 14 of the Instrument.
Investment funds must use net assets as shown on the financial statements in the "The Fund's Net Assets per [Unit/Share]" table. All other calculations for the purposes of the MRFP must be made using net asset value.
Form 81-106F1, Part B, item 1 BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
Item 1 — First Page Disclosure
The first page of an annual MRFP must contain disclosure in substantially the following words:
"This annual management report of fund performance contains financial highlights but does not contain the complete annual financial statements of the investment fund. You can get a copy of the annual financial statements at your request, and at no cost, by calling [toll-free/collect call telephone number], by writing to us at [insert address] or by visiting our website at [insert address] or SEDAR at www.sedar.com.
Securityholders may also contact us using one of these methods to request a copy of the investment fund's proxy voting policies and procedures, proxy voting disclosure record, or quarterly portfolio disclosure."
INSTRUCTION:
If the MRFP is bound with the financial statements of the investment fund, modify the first page wording appropriately.
Form 81-106F1, Part B, item 3, section 3.1, "Fund's Net Assets per [Unit/Share]" table BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
| The Fund's Net Assets per [Unit/Share] (1) | |||||
| [insertyear] | [insert year] | [insert year] | [insert year] | [insert year] | |
| Net Assets, beginning of year | $ | $ | $ | $ | $ |
| Increase (decrease) from operations: | |||||
| total revenue | $ | $ | $ | $ | $ |
| total expenses | $ | $ | $ | $ | $ |
| realized gains (losses) for the period | $ | $ | $ | $ | $ |
| unrealized gains (losses) for the period | $ | $ | $ | $ | $ |
| Total increase (decrease) from operations 2 | $ | $ | $ | $ | $ |
| Distributions: | |||||
| From income (excluding dividends) | $ | $ | $ | $ | $ |
| From dividends | $ | $ | $ | $ | $ |
| From capital gains | $ | $ | $ | $ | $ |
| Return of capital | $ | $ | $ | $ | $ |
| Total Annual Distributions 3 | $ | $ | $ | $ | $ |
| Net assets at [insert last day of financial year] of year shown | $ | $ | $ | $ | $ |
| (1) This information is derived from the Fund's audited annual financial statements. The net assets per security presented in the financial statements differs from the net asset value calculated for fund pricing purposes. [An explanation of these differences can be found in the notes to the financial statements./This difference is due to [explain].] (2) Net assets and distributions are based on the actual number of [units/shares] outstanding at the relevant time. The increase/decrease from operations is based on the weighted average number of [units/shares] outstanding over the financial period. (3) Distributions were [paid in cash/reinvested in additional [units/shares] of the Fund, or both]. | |||||
Form 81-106F1, Part B, item 3, section 3.1, (7.1) was added by BC Reg 265/2013, effective January 1, 2014.
Form 81-106F1, Part B, item 3, section 3.1, "Ratios and Supplemental Data" table BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
| Ratios and Supplemental Data | |||||
| [insert year] | [insert year] | [insert year] | [insert year] | [insert year] | |
| Total net asset value (000's)(1) | $ | $ | $ | $ | $ |
| Number of [units/shares] outstanding(1) | |||||
| Management expense ratio(2) | % | % | % | % | % |
| Management expense ratio before waivers or absorptions | % | % | % | % | % |
| Trading expense ratio(3) | % | % | % | % | % |
| Portfolio turnover rate(4) | % | % | % | % | % |
| Net asset value per [unit/share] | $ | $ | $ | $ | $ |
| Closing market price [if applicable] | $ | $ | $ | $ | $ |
| (1) This information is provided as at [insert date of end of financial year] of the year shown. (2) Management expense ratio is based on total expenses (excluding commissions and other portfolio transaction costs) for the stated period and is expressed as an annualized percentage of daily average net asset value during the period. (3) The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net asset value during the period. (4) The Fund's portfolio turnover rate indicates how actively the Fund's portfolio adviser manages its portfolio investments. A portfolio turnover rate of 100% is equivalent to the Fund buying and selling all of the securities in its portfolio once in the course of the year. The higher a fund's portfolio turnover rate in a year, the greater the trading costs payable by the fund in the year, and the greater the chance of an investor receiving taxable capital gains in the year. There is not necessarily a relationship between a high turnover rate and the performance of a fund. | |||||
Form 81-106F1, Part B, item 3, section 3.2, "Financial & Operating Highlights (with comparative figures)" table BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
| Financial & Operating Highlights (with comparative figures) | |||||
| [insert year] | [insert year] | [insert year] | [insert year] | [insert year] | |
| Balance Sheet | |||||
| Total Assets | $ | $ | $ | $ | $ |
| Net Assets | $ | $ | $ | $ | $ |
| % change of Net Assets | % | % | % | % | % |
| Statement of Operations | |||||
| Scholarship Awards | $ | $ | $ | $ | $ |
| Canadian Education Savings Grant | $ | $ | $ | $ | $ |
| Net investment income | $ | $ | $ | $ | $ |
| Other | |||||
| Total number of [agreements/units] in plans | |||||
| % change in the total number of agreements | % | % | % | % | % |
Form 81-106F1, Part C, item 1, BEFORE amended by BC Reg 265/2013, effective January 1, 2014.
Item 1 — First Page Disclosure
The first page of an interim MRFP must contain disclosure in substantially the following words:
"This interim management report of fund performance contains financial highlights, but does not contain either interim or annual financial statements of the investment fund. You can get a copy of the interim or annual financial statements at your request, and at no cost, by calling [toll-free/collect call telephone number], by writing to us at [insert address] or by visiting our website at [insert address] or SEDAR at www.sedar.com.
Securityholders may also contact us using one of these methods to request a copy of the investment fund's proxy voting policies and procedures, proxy voting disclosure record, or quarterly portfolio disclosure."
INSTRUCTION:
If the MRFP is bound with the financial statements of the investment fund, modify the first page wording appropriately.
Form 81-106F1, item 4.1(1) BEFORE amended by BC Reg 176/2014, effective September 22, 2014.
(1) In responding to the requirements of this Item, an investment fund must comply with sections 15.2, 15.3, 15.9, 15.10, 15.11 and 15.14 of National Instrument 81-102 Mutual Funds as if those sections applied to the annual MRFP.
Form 81-106F1, item 4.3(5) BEFORE amended by BC Reg 176/2014, effective September 22, 2014.
(5) Calculate the annual compound return in accordance with the requirements of Part 15 of National Instrument 81-102.
Form 81-106F1, Part B, Item 2.3 (3) was added by BC Reg 287/2018, effective January 3, 2019.
Form 81-106F1, Part B, Item 2.3 Instructions BEFORE amended by BC Reg 287/2018, effective January 3, 2019.
INSTRUCTION:
Explain the nature of and reasons for changes in your investment fund's performance. Do not simply disclose the amount of change in a financial statement item from period to period. Avoid the use of boilerplate language. Your discussion should assist the reader to understand the significant factors that have affected the performance of the investment fund.
Form 81-106F1, Part B, Item 1 (part) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
"This annual management report of fund performance contains financial highlights but does not contain the complete annual financial statements of the investment fund. You can get a copy of the annual financial statements at your request, and at no cost, by calling [toll-free/collect call telephone number], by writing to us at [insert address] or by visiting our website at [insert address] or SEDAR at www.sedar.com.
Form 81-106F1, Part B, Item 5, instruction (9) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
(9) If the investment fund invests in other investment funds, include a statement to the effect that the prospectus and other information about the underlying investment funds are available on the internet at www.sedar.com.
Form 81-106F1, Part C, Item 1 (part) BEFORE amended by BC Reg 345/2021, effective January 6, 2022.
"This interim management report of fund performance contains financial highlights but does not contain either the interim financial report or annual financial statements of the investment fund. You can get a copy of the interim financial report or annual financial statements at your request, and at no cost, by calling [toll-free/collect call telephone number], by writing to us at [insert address] or by visiting our website at [insert address] or SEDAR at www.sedar.com.
Form 81-106F1, Part B, Item 1 (part) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
"This annual management report of fund performance contains financial highlights but does not contain the complete annual financial statements of the investment fund. You can get a copy of the annual financial statements at your request, and at no cost, by calling [toll-free/collect call telephone number], by writing to us at [insert address] or by visiting our website at [insert the address of the designated website] or SEDAR at www.sedar.com.
Form 81-106F1, Part B, Item 5, instruction (9) (part) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
(9) If the investment fund invests in other investment funds, include a statement to the effect that the prospectus and other information about the underlying investment funds are available on the investment fund's designated website and at www.sedar.com.
Form 81-106F1, Part C, Item 1 (part) BEFORE amended by BC Reg 140/2023, effective June 9, 2023.
"This interim management report of fund performance contains financial highlights but does not contain either the interim financial report or annual financial statements of the investment fund. You can get a copy of the interim financial report or annual financial statements at your request, and at no cost, by calling [toll-free/collect call telephone number], by writing to us at [insert address] or by visiting our website at [insert the address of the designated website] or SEDAR at www.sedar.com.