About the Wealthsimple Private Market Fund

Private equity, private credit, private infrastructure, and other private assets give investors access to companies that aren't available on public stock and bond markets. Many private assets react differently to various market conditions (such as inflationary and recessionary environments), which makes them diversifying to standard portfolios. These assets also tend to be relatively illiquid and require longer investment horizons. For example, it takes time for private equity to improve a company's operations, accelerate its growth, and increase its profitability. Buying and selling these investments typically takes much longer than trading public stocks (it can take months or even a year), and requires sophisticated buyers capable of conducting thorough due diligence and navigating all legal aspects, similar to the lengthy process of buying or selling a house. However, investors have historically been rewarded for that commitment with a return premium above that of public-market equivalents. The Private Market Fund is designed to bring that kind of premium and diversification to Wealthsimple clients.

The Private Market Fund is designed as a long-term investment. Each asset class within the fund targets a different return profile: The private equity component targets strong capital appreciation, private credit targets consistent income with lower volatility, and private infrastructure targets inflation-linked cash flows and capital preservation. As with all investments, past performance isn't a guarantee of future results, and returns will vary.

The Private Market Fund combines Private Equity (40%), Private Infrastructure (35%), and Private Credit (25%) into a single, professionally managed fund. Instead of overseeing and rebalancing multiple fund accounts, you hold one diversified position. You also gain private infrastructure exposure, a new offering for Wealthsimple that invests in inflation-resistant assets like toll roads, utilities, renewable energy, and data centres.

The Private Market Fund is an evolution in Wealthsimple's private market offering. By combining three private asset classes with multiple underlying managers, the fund is designed to deliver more consistent performance and reduce concentration risk, rather than being overly reliant on a single approach.

You can read the full Private Market Fund brochure or reach out to our support team. We're here to help.

Yes. If you weren't part of the June 1, 2026 migration, moving to the Private Market Fund is your choice, and you'll need to opt in for it to happen. If you don't opt in, your Private Equity or Private Credit holdings stay exactly as they are today.

August 16, 2026. You'll need to complete the opt-in form we've sent you on or before that date for your account to be included.

Nothing changes. Your existing Private Equity or Private Credit holdings stay in place, and you'll keep the same management fee you pay today.

No. If you opt in and migrate, you'll keep the management fee you pay today on that account.

Yes, but you'll need to cancel your pending redemption before August 16, 2026 for your account to migrate. If your redemption is in an open redemption window, you can cancel it yourself in the Wealthsimple app. If the window has already closed, reach out to our support team and we'll look at whether we can cancel it for you.

Yes. Once your redemption settled, the money needed to either stay as cash or move back into your Private Credit Fund account. As long as you kept the account open and opt in before the deadline, we can migrate you and keep your existing management fee. If you closed the account after your redemption settled, it isn't eligible. This applies to Private Credit only, so it doesn't cover Private Equity redemptions settling after August 16, 2026.

No. Private Equity and Private Credit are no longer available for managed clients who choose their own investments, so we're not able to move an account back once it's migrated. From there, your options are staying in the Private Market Fund or redeeming your investment.

No. New accounts open at our current fee structure. Your original fee stays in place on the accounts that were already migrated.

Not automatically. Some clients weren't included in the June 2026 migration to avoid triggering capital gains that could have significant tax implications. If that's you, you can now choose to move to the Private Market Fund by opting in before August 16, 2026, and you'll keep your existing management fee if you do. If you'd like to talk through the tax side first, reach out to our support team.

The performance fee rates within each asset class of the Private Market Fund are the same as those of the standalone funds. However, because the Private Market Fund invests across all three asset classes, you'll be exposed to the performance fee structures of asset classes you weren't previously invested in. For example, Private Equity clients will now also be subject to Private Credit and Private Infrastructure performance fee terms and vice versa. Here's the full breakdown:

*Charges from the managers of the individual funds our fund invests in.

**Different managers take different percentages over a certain percentage return, called a hurdle.

For existing clients of our Private Credit and Private Equity Funds, your Wealthsimple management fees aren't changing. You'll continue to pay the same rate you do right now (0.25% if you currently pay under 0.4%, or 0.4% if you pay 0.4% or more), and that rate applies to all new deposits into the Private Market Fund in your existing account. New clients joining the Private Market Fund will pay an annual management fee of 1%.

You won't pay that higher rate in your existing accounts. You were one of the first to believe in private markets on this platform, and we think that should mean something. Your current rate is being honoured as a thank-you for being with us from the start.

Managing a multi-manager, multi-asset class fund is significantly more complicated than a single-manager fund, and the new fund has three times the number of underlying managers as the standalone funds. That means a substantial increase in vetting underlying managers, investment monitoring and oversight, operational and legal duties, ongoing capital maintenance, and rebalancing. All of that requires additional resources, which results in increased fees for new investors.

For investments held in registered accounts, there are no immediate tax implications.

For non-registered accounts, the migration was treated as a disposition at fair market value under Canadian tax law, even though no cash left your account. What this meant in practice:

• Private Equity Fund investors may have realized a capital gain if the fund's value at migration exceeded their adjusted cost base.
• Private Credit Fund investors were less likely to see a capital gain, since most returns to date had been treated as interest income.

A modest capital gain was still possible if the fund's value had risen since your investment.