CI Mutual Funds Inc. and AIC Limited will face another trial to determine damages, which the counsel for the plaintiffs in the 17-year-old class-action lawsuit say could total as much as $674-million.The ruling stems from a 2003 Ontario Securities Commission investigation involving five Canadian financial services companies. All five, including IG Investment Management Ltd., Franklin Templeton Investments Corp., and AGF Funds Inc.
That means an ETF that tracks the S&P 500, for example, invests in S&P 500 listed companies according to their current market value. Weightings in Apple or Microsoft are adjusted in the ETF within hours as their market values fluctuate. Determining how much of any company is in a market-weighted ETF at any time is as simple as calling up the index.Another reason for the flight to ETFs are annual fees that are a fraction of mutual fund fees, which leaves more of an investment invested.
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