Fund for 3-year old daughter

Question – Could you recommend a Canadian mutual fund company and possibly funds that would be suitable for my three-year-old daughter’s education fund? – J.B.

Answer – Even with the state of the world right now, you should start off with a fund that has long-term growth potential. After all, it will be many years before she needs the money so you don’t want to be overly conservative, despite the market turbulence. The Templeton Canadian Asset Allocation Fund is performing quite well under the circumstances, as is the AIC American Balanced Fund. If you prefer a balanced fund with less stock market exposure, but accordingly less growth potential, take a look at Mackenzie Industrial Income Fund. – G.P.