What type of document outlines the key benefits, fees, and past performance of a segregated fund?

The correct answer is that a segregated fund's key benefits, fees, and past performance are typically detailed in a Fund Facts document. Fund Facts provide clear, concise information designed to make it easier for investors to understand the essential aspects of the fund, including its objectives, risks, and costs associated with investing in it.

Fund Facts serve as a summary that helps potential investors make informed decisions by presenting critical information in a standardized format, which is particularly intended for the protection of investors, ensuring they are not misled about the nature of the fund they are considering.

While a prospectus is a comprehensive legal document that contains detailed information about the fund, including the full range of risks and fees, it is usually more extensive than what most investors desire when making an initial evaluation. An information folder may contain a collection of promotional materials or broader information about a fund provider but lacks the standardized, detailed nature required when evaluating fund specifics directly. A segregated fund contract, while it includes details about the fund, is more focused on the legal agreement between the insurer and the policyholder rather than summary performance and fees. Thus, the Fund Facts document stands out as the most relevant and concise source for this specific information about segregated funds.