When to liquidate mutual funds?

[nambaliya]

Hello All,

I have most of my savings (About CAD 20000) in mutual funds. I also have provident fund equivalent of CAD 10000 and some PPF too. But to make things simpler, I intend to use mutual funds only as my primary proof of funds.

I am fully aware that mutual funds statements are not accepted by CIC as the value fluctuates based on market scenario.

My question is when (Latest) should I liquidate the funds? I don't want to liquidate them now and put the money in fixed deposit as it just complicates things (Some people might argue that why lose interest on savings). If I liquidate them after I receive an ITA and show my bank statement, will that be ok?

PS. Number of applicants : 3 (1 main, 1 spouse, 1 child)

Thanks,
nambaliya

 

[pizzaboy99]

Mutual funds not being acceptable to IRCC is a false statement. There is no such restriction. I have used mutual funds as proof of funds several times for study & tourist visas for several different countries such as US & European countries.

That being said, showing mutual funds as POF is unconventional and most people liquidate and show in bank account, for mental peace mostly . I am also doing the same.

You can liquidate anytime before application. I liquidated a few weeks before ITA once I had IELTS & ECA result because why wait.

Make sure you include a receipt showing that you have liquidated funds (to prove source of funds), mutual fund statements showing that this money has been in your investment account for atleast a year and a LOE explaining this.