How to buy iShare Mutual funds

[superping]

I investigate a few mutual fund options to invest my TFSA account and want to invest in iShare mutual fund. Their management fee for index fund is very low (< 0.5 %) with decent performance. The fund is managed by Barclays Global Investors Canada Ltd. (UK parent company).

Just wonder if anybody bought iShare mutual fund through third party vendor (like big bank).

Or do I have to open an account with them separately?

[asdfvcx]

IShares are ETFs, not mutual funds. This means that they trade on the stock market, and are bought and sold the same way as stocks. In order to buy them you will need to open up a brokerage account.

I don't believe any brokerage has yet given much detailed info on what their TFSA brokerage accounts will look like. (Although, some have promised that they will have them. )

[Thalo]

[biased but helpful info] TD Waterhouse will start opening TFSAs on MONDAY. You will be able to do contributions as of Jan 2nd. [/biased but helpful info]

[nobody1234]

IShares are ETFs, not mutual funds. This means that they trade on the stock market, and are bought and sold the same way as stocks. In order to buy them you will need to open up a brokerage account.


I think he's talking about the more managed funds just introduced and discussed here:
http://www.redflagdeals.com/forums/showthread.php?t=661734
They look and smell like mutual funds, you'll have to check with your advisor/funds salesperson to see if they will be able to hook you up.

UPDATE: I was wrong, they are normal ETFs

[AllWheelDrift]

I think he's talking about the more managed funds just introduced and discussed here:
http://www.redflagdeals.com/forums/showthread.php?t=661734
They look and smell like mutual funds, you'll have to check with your advisor/funds salesperson to see if they will be able to hook you up.
They may be managed, but they are still ETFs and bought/sold like stock.

[potato]

+1

Don't think they are mutual funds.

[nobody1234]

+1

Don't think they are mutual funds.

You guys are right, I didn't read carefully enough. I saw active management and just assumed they were packaging a bunch of ETFs and selling them as a mutual fund.