MONTREAL, March 15, 2017 /CNW Telbec/ - National Bank
Investments Inc. ("NBI") announced today the reduction of its
administration fees, trailing commissions and management fees on
certain Meritage Portfolios.
"This year, Meritage Portfolios celebrate 10 years of strong
performance. Changes announced today are aligned with our long
standing philosophy of continuously improving our investment
solutions for Canadian investors", said Jonathan Durocher, President and Chief Executive
Officer of National Bank Investments.
These changes will be effective as of April 1, 2017 and are in keeping with NBI's
client-centric approach, committed to providing investors with
access to innovative investment solutions at competitive
pricing.
Administration fee reductions
The administration fees
for the following Meritage Portfolios will be reduced as indicated
in the table below.
Portfolios and
Series
|
Current
administration fee
|
New administration
fee
|
Meritage Canadian
Equity Portfolio
(Advisor, F, F5
and T5 Series)
|
0.24%
|
0.18%
|
Meritage American
Equity Portfolio
(Advisor, F, F5
and T5 Series)
|
0.24%
|
0.18%
|
Meritage
International Equity Portfolio
(Advisor, F, F5
and T5 Series)
|
0.24%
|
0.18%
|
Meritage Conservative
Portfolio
(Advisor, F, F5
and T5 Series)
|
0.18%
|
0.11%
|
Meritage Moderate
Portfolio
(Advisor, F, F5
and T5 Series)
|
0.18%
|
0.12%
|
Meritage Balanced
Portfolio
(Advisor, F, F5
and T5 Series)
|
0.13%
|
0.12%
|
Meritage Aggressive
Growth Portfolio
(Advisor, F, F5 and T5
Series)
|
0.19%
|
0.18%
|
Meritage Moderate
Income Portfolio
(Advisor and F
Series)
|
0.18%
|
0.12%
|
Meritage Growth
Income Portfolio
(Advisor and F
Series)
|
0.18%
|
0.16%
|
Meritage Aggressive
Growth Income Portfolio
(Advisor and F
Series)
|
0.20%
|
0.18%
|
Management fee and trailing commission reductions
In
addition, the management fees for the Advisor and T Series (or T5
Series, if applicable) of the following Meritage Portfolios will be
reduced as indicated in the table below. This change is the result
of the decrease in trailing commissions that will be implemented at
the same time. Trailing commissions are decreased to better align
the dealer compensation paid for these Meritage Portfolios with the
compensation generally paid in the market to dealers of equity
funds. This reduction applies to the trailing fees for the initial
sales charge option and deferred sales charge option (+ 6
years).
Portfolio
|
Current management
fee
|
New management
fee
|
Current dealer
compensation*
|
New dealer
compensation*
|
Meritage Canadian
Equity Portfolio
|
Advisor Series:
2.25%
T5 Series:
2.25%
|
Advisor Series:
2.00%
T5 Series:
2.00%
|
Advisor Series:
1.25%
T5 Series:
1.25%
|
Advisor Series:
1.00%
T5 Series:
1.00%
|
Meritage Canadian
Equity Class Portfolio
|
Advisor Series:
2.25%
T Series:
2.25%
|
Advisor Series:
2.00%
T Series:
2.00%
|
Advisor Series:
1.25%
T Series:
1.25%
|
Advisor Series:
1.00%
T Series:
1.00%
|
Meritage Global
Equity Portfolio
|
Advisor Series:
2.25%
T5 Series:
2.25%
|
Advisor Series:
2.00%
T5 Series:
2.00%
|
Advisor Series:
1.25%
T5 Series:
1.25%
|
Advisor Series:
1.00%
T5 Series:
1.00%
|
Meritage Global
Equity Class Portfolio
|
Advisor Series:
2.25%
T Series:
2.25%
|
Advisor Series:
2.00%
T Series:
2.00%
|
Advisor Series:
1.25%
T Series:
1.25%
|
Advisor Series:
1.00%
T Series:
1.00%
|
Meritage American
Equity Portfolio
|
Advisor Series:
2.25%
T5 Series:
2.25%
|
Advisor Series:
2.00%
T5 Series:
2.00%
|
Advisor Series:
1.25%
T5 Series:
1.25%
|
Advisor Series:
1.00%
T5 Series:
1.00%
|
Meritage
International Equity Portfolio
|
Advisor Series:
2.25%
T5 Series:
2.25%
|
Advisor Series:
2.00%
T5 Series:
2.00%
|
Advisor Series:
1.25%
T5 Series:
1.25%
|
Advisor Series:
1.00%
T5 Series:
1.00%
|
Meritage Aggressive
Growth Portfolio
|
Advisor Series:
2.25%
T5 Series:
2.25%
|
Advisor Series:
2.00%
T5 Series:
2.00%
|
Advisor Series:
1.25%
T5 Series:
1.25%
|
Advisor Series:
1.00%
T5 Series:
1.00%
|
Meritage Aggressive
Growth Class Portfolio
|
Advisor Series:
2.25%
T Series:
2.25%
|
Advisor Series:
2.00%
T Series:
2.00%
|
Advisor Series:
1.25%
T Series:
1.25%
|
Advisor Series:
1.00%
T Series:
1.00%
|
Meritage Aggressive
Growth Income Portfolio
|
Advisor Series:
2.25%
|
Advisor Series:
2.00%
|
Advisor Series:
1.25%
|
Advisor Series:
1.00%
|
Meritage Global
Aggressive Growth Portfolio
|
Advisor Series:
2.25%
T5 Series:
2.25%
|
Advisor Series:
2.00%
T5 Series:
2.00%
|
Advisor Series:
1.25%
T5 Series:
1.25%
|
Advisor Series:
1.00%
T5 Series:
1.00%
|
Meritage Global
Aggressive Growth Class Portfolio
|
Advisor Series:
2.25%
T5 Series:
2.25%
|
Advisor Series:
2.00%
T5 Series:
2.00%
|
Advisor Series:
1.25%
T5 Series:
1.25%
|
Advisor Series:
1.00%
T5 Series:
1.00%
|
* Initial sales
charge and deferred sales charge (+ 6 years)
|
The management fees for F Series (and F5 Series, if applicable)
of some Meritage Portfolios will also be reduced. Specifically, the
management fee of these series will be reduced from 1.00% to 0.90%
on the Meritage Conservative Portfolio, the Meritage Moderate
Portfolio, the Meritage Conservative Income Portfolio and the
Meritage Moderate Income Portfolio; from 1.00% to 0.95% on the
Meritage Global Conservative Portfolio and the Meritage Global
Moderate Portfolio; and from 1.00% to 0.85% on the Meritage
Canadian Equity Portfolio and the Meritage Canadian Equity Class
Portfolio.
Name changes
Finally, the English versions of the
names of some Meritage Portfolios will be changed to align them
more closely with the French versions. The changes are indicated
below.
Current
name
|
New
name
|
Meritage Aggressive
Growth Portfolio
|
Meritage Dynamic
Growth Portfolio
|
Meritage Aggressive
Growth Class Portfolio
|
Meritage Dynamic
Growth Class Portfolio
|
Meritage Aggressive
Growth Income Portfolio
|
Meritage Dynamic
Growth Income Portfolio
|
Meritage Global
Aggressive Growth Portfolio
|
Meritage Global
Dynamic Growth Portfolio
|
Meritage Global
Aggressive Growth Class Portfolio
|
Meritage Global
Dynamic Growth Class Portfolio
|
The changes will be reflected in an amendment to the Meritage
Portfolios simplified prospectus to be filed in connection with
these changes at www.sedar.com and www.nbcadvisor.com.
About National Bank Investments Inc.
National Bank Investments Inc. ("NBI"), a wholly owned
subsidiary of National Bank of Canada, is an investment fund management firm
committed to manufacturing and distributing mutual funds,
investment solutions and services designed to help Canadian
investors pursue their financial goals. As at December 31,
2016, the value of assets under management in NBI products amounted
to C$32.2 billion.
Guided by a 100% open architecture structure, NBI is
dedicated to providing diverse solutions to meet the evolving needs
of its clients. NBI consistently strives to be recognized as a key
partner by combining innovation and excellence. NBI's role is not
limited to administrative aspects of management; NBI Advisory
Services and its registered representatives form a team of
specialists who provide information and advice to help advisors
build portfolios adapted to their clients' financial needs.
About National Bank of Canada
With $234 billion in
assets as at January 31, 2017,
National Bank of Canada, together
with its subsidiaries, forms one of Canada's leading integrated financial groups.
The Bank has close to 21,000 employees and is widely recognized as
a top employer. The Bank's securities are listed on the
Toronto Stock Exchange (TSX: NA). Follow the Bank's activities
at nbc.ca or via social media such as Facebook, LinkedIn and
Twitter.
SOURCE National Bank of Canada