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Is my QuietGrowth account a managed account or a managed fund?
Your QuietGrowth account is a Managed Discretionary Account (MDA). So, it is also a managed account because an MDA is a subset of managed accounts. Your QuietGrowth account is not a managed fund.
We believe the MDA structure has key advantages over the managed fund structure. For example, in an MDA with 'individual HIN', you will have beneficial ownership of the securities in the portfolio instead of owning units in the managed fund.