Knowledge First Financial semi-annual financial statements for the period ending October 31, 2016
Dec 31, 2016
Highlights from Knowledge First Financial semi-annual financial statements
for the period ending October 31, 2016
Mississauga, ON (Dec. 31, 2016) - Knowledge First Financial was founded on the belief that education opens the doors to a brighter future. As the cost of education continues to outpace inflation, the decision to start saving with an RESP is more important than ever. Students will agree, not only does an RESP alleviate their financial worries, but it also empowers them to focus on their studies and unlock the potential that education brings.
With an RESP from Knowledge First Financial, customers enjoy the opportunity of having professional portfolio managers focused on making sound investment choices to deliver long-term financial growth. The investment portfolios of the both the Family Group Plan and Flex First Plans consist of fixed income and equity securities, and continue to deliver consistent returns.
Highlights from the unaudited financial statements for the six month period ending October 31, 2016 include:
Flex First Plan investment portfolio
- Performance of the Flex First Plan investment portfolio was encouraging with a one-year return for the Flex First investment portfolio of 6.2% as at October 31, 2016.
- Flex First Plan portfolio continues to see very strong growth with assets in the Plan increasing by 40% to $61 million
For the Family Group Plan investment portfolio
- Performance of the Family Group Plan investment portfolio was encouraging with a one-year return of 5.8% as at October 31, 2016. By allocating realized gains or losses from fixed investments over a five-year period, our policy results in smoother returns being allocated to your account. For the one-year period ending October 31, 2016 the Family Group Plan allocated rate of return was 5.5%, an increase of 0.5% over the same period last year.
- As more Family Plans reach maturity, total return of deposits grew to almost $190 million ($177 million for the six months ended October 31, 2015)
- Education Assistance Payments to students were approximately $35 million ($29 million for the six months ended October 31, 2015)
The financial statements for the period ending October 31, 2016 are available on SEDAR or can be viewed in the [URL for knowledgefirstfinancial.ca/Important Documents section).