摘要：Mutual funds provide retail investors with access toa broad range of investment opportunities. Globally,mutual funds have grown considerably in recent yearsand have become important players in many securitiesmarkets, prompting regulatory interest in vulnerabilitiesthat could emanate from the sector. This report finds that vulnerabilities arising fromCanadian mutual funds are currently limited:(i) Funds hold an adequate amount of cash, giventhe underlying liquidity of their investments, andhave a stable investor base, limiting risks fromliquidity and maturity transformation.(ii) Since the degree of leverage held by a fund isrestricted by securities regulation, funds have lowleverage ratios and limited derivatives exposures.(iii) Even the largest funds are not dominant playersin the securities markets in which they invest.
