Higher returns and lower costs: this is how we improve the Steadyhand Savings Fund
When you invest with Steadyhand, your money is managed with one goal in mind: to help you achieve better financial results with confidence and clarity. To keep your money working harder, we’re developing the Steadyhand Savings Fund to provide higher returns and lower costs.
On October 31, 2025the fund will be managed by Purpose Investments to take advantage of its dedicated money market expertise, institutional scale and a process that has delivered higher returns while maintaining safety. With this transition the One simple fee on the fund will be reduced 0.45% Unpleasant 0.40% from January 1, 2026.
This change strengthens the way we manage your cash investments by connecting them to one of Canada’s largest, most trusted and innovative cash management platforms.
Who is Purpose Investments?
Founded in 2012, Purpose Investments is a Canadian-owned independent asset manager focused on delivering innovative, high-quality investment solutions. In 2013, Purpose launched the world’s first high-interest savings ETF, the Purpose High Interest Savings Fund, redefining the way investors think about cash management and setting a new standard for returns, stability and accessibility.
Today, Purpose manages more than $27 billion across a wide range of ETFs and mutual funds. The company is led by entrepreneur Som Seif and operates as part of Purpose Unlimited – a modern financial services platform that uses technology to empower Canadians. Through its wealth management, advisory services and small business lending businesses, Purpose aims to help investors, entrepreneurs and advisors grow with confidence and take control of their financial future.
Why this transition is a good thing for investors
This update is about improving outcomes for Steadyhand customers, while keeping the experience simple and familiar. This is what it means for you:
- ✅ Competitive returns – The Steadyhand Savings Fund will hold the Purpose Cash Management Fund (MNY), which has historically outperformed the Steadyhand Savings Fund by 5 to 15 basis points per year (which is 0.05% to 0.15%), even after fees, thanks to its active money market strategy.
Comparison of funds
| Performance comparison | YTD | 1 year | 2 years | 3 years | Since common origins* |
|---|---|---|---|---|---|
| Objective Cash Management Fund Class A | 2.07% | 3.05% | 3.94% | 3.97% | 4.05% |
| Steadyhand Savings Fund | 1.97% | 2.93% | 3.82% | 9.37% | 3.99% |
| Difference | 0.10% | 0.12% | 0.12% | 0.10% | 0.06% |
As of September 30, 2025
*Common start: 15-09-2022 to 30-09-2025
Target Cash Management Fund 7-day gross: 2.97%; Net 7 days: 2.50% on October 28, 2025
Steadyhand Savings Fund 7-day gross: 2.62%; Net 7 days: 2.17% on October 28, 2025
- ✅ No taxable impact – This transition will be seamless and will not result in realized profits.
- ✅ Professional supervision – Your investments are still professionally managed within a trusted, disciplined framework.
- ✅ Coordinated compensation – Your fees will drop from 0.45% to 0.40% on January 1, 2026 – no new fees or hidden costs.
- ✅ Liquidity – You retain full flexibility and access without any disruption to the way you manage your account.
- ✅ Long-term trust – By integrating with Purpose’s Cash platform, Steadyhand customers will benefit from the same innovation, scale and efficiency that have made Purpose a leader in the Canadian cash market.
Our shared philosophy
This transition reflects our shared belief that investing should be transparent, accessible and customer-oriented. Purpose and Steadyhand both believe in simplicity – managing money without unnecessary complexity – and in putting customer interests first.
By working together, we are building a more unified and resilient platform that will continue to evolve with your needs. The change increases performance potential while maintaining the same principles of clarity, discipline and trust that define Steadyhand.
The bottom line: your money remains safe, accessible and professionally managed – now on a platform designed for the future.
Commissions, ongoing commissions, management fees and expenses may all be associated with mutual fund investments. Read the prospectus and other disclosure documents before investing. Mutual funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no guarantee that the full amount of your investment in a fund will be returned to you. If the securities are bought or sold on an exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed; their values ​​change frequently and past performance may not be repeated.
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