The bank has knowledge of the top 10 investments for the mutual funds (like other banks, gold companies, etc.) Which accounts for 15 percent of the mutual fund. The rest of the mutual fund is unknown to the bank tellers as that is invested in companies that change from time to time
In halal investing you can not make profit from debt and therefore bonds and CDs (or GICs) are not allowed.
I am surprised the the 85% of mutual fund has unknown holdings.
It would be better to invest in a mutual fund where you know that 100% allocation if given to companies (equity) and not debt.
You might also want to consider moving your RRSP to another provider like interactive brokers or Questrade.
There you can invest in equity ETFs (which are much lower costs than mutual funds in general) or just directly invest in stocks.
Disclaimer: This is not financial advice.
Answered 2 years ago