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I would like to invest $100000 cash in a monthly income generating mutual fund which is low risk - I read that some pay div , interest and return of capital. Can I have the names of three funds that are tax efficient and low risk and one that pays a 4 to 6 cents dividend per unit per month and one to consider purchasing outside the RRSP. I know that stocks and mutual funds are not guaranteed like GICs. So I am more interested in preserving my capital and yet receive a decent monthly payout.

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  • If you're not looking for funds but REITS you could save the administration fee. Something like Riocan or Northview.
    – Swizzler
    Commented Jun 8, 2017 at 20:43

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@sharam - big question. I am going to answer part of it, but not as directly as you might like.

You mention 4-6 cents per unit per month, but fail to give a unit price, so it is hard to tell how much return you are really looking for.

Given the amount you have to invest, depending on your time horizon, you will do much better outside of mutual funds. Many funds in this category have fees in the 2% range. You actually have enough money to have a diversified portfolio on your own, without recourse to funds.

If you want to use a fund-like product, I encourage you to look at well established ETFs (Exchange Traded Funds). They are basically like mutual funds that trade on the open stock market. One good example in this category is iShares XDV

Good Luck

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