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 market turmoil, 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 balance sheet and make a profit. And the number of people looking to buy into that instrument on any given day is much lower than a typical public stock. 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 here or reach out to our support team. We're here to help.

No action is required. As your investment manager, we're moving all eligible existing private market clients to the Private Market Fund on June 1, 2026. You'll receive more details closer to the migration date.

Your current fund units will be exchanged for Private Market Fund units of equal value. No cash will leave your account, but the fund you're invested in will change — including its investment objective, risk profile, asset allocation, and fee structure.

No, your account type stays the same. The migration only affects which fund your money is invested in, not the account structure.

Yes — each account is migrated individually. For example, if you hold a Private Equity account in your RRSP and another in your non-registered account, each will be migrated separately.

No. There are some clients who won't be migrated in this initial wave to avoid triggering capital gains that come with significant tax implications. If that’s you, we'll be in touch in the coming months with details on how you can opt into the Private Market Fund and lock in preferred pricing, if you choose to.

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.

For existing private market clients, no. As a thank-you for being with us from the start, your current management fee is being honoured in full for all future deposits into your existing accounts — a rate that won't be available to new clients joining the Private Market Fund. The Private Market Fund carries an annual management fee of 1%, but existing clients will receive a High Value Customer Fee Rebate that offsets this to match your current rate. This rebate is applied automatically at the account level each month and will be reflected in your account activity.

Managing a multi-manager 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 clients whose investments are held in registered accounts (RRSP, TFSA), there are no immediate tax implications.

For non-registered accounts, the migration will be treated as a disposition at fair market value under Canadian tax law, even though no cash leaves your account. If you have investments held in a non-registered account, we recommend speaking with a tax advisor to understand any implications for your 2026 tax return.