MONTREAL, May 17, 2021 /CNW Telbec/ - National Bank
Investments Inc. (NBI) today provided an update on some previously
announced investment fund mergers.
The merger proposal of NBI Jarislowsky Fraser Select Balanced
Fund into NBI Jarislowsky Fraser Select Income Fund is being
withdrawn from today's Special Meeting. The merger scheduled for on
or about May 28 is cancelled.
Purchases of securities of this fund are now re-opened.
In addition, NBI has decided to postpone until next September
the Special Meeting of NBI Canadian Equity Index Fund, NBI U.S.
Equity Index Fund and NBI International Equity Index Fund (the
Continuing Index Funds), which were to be held in respect of the
following merger proposals:
Terminating
Funds
|
Continuing Index
Funds
|
NBI Canadian Index
Fund
|
NBI Canadian Equity
Index Fund
|
NBI U.S. Index
Fund
|
NBI U.S. Equity Index
Fund
|
NBI U.S. Currency
Neutral Index Fund
|
NBI International
Index Fund
|
NBI International
Equity Index Fund
|
NBI International
Currency Neutral Index Fund
|
The effective date of the mergers and other relevant information
regarding the upcoming meetings will be announced shortly.
NBI is also announcing reductions to the management fees and
trailing commissions for the Investor-2 Series of the NBI Canadian
Equity Index Fund, the NBI U.S. Equity Index Fund and the NBI
International Equity Index Fund, as outlined in the table below.
These series are open for purchase as of today.
Management fee reduction
Series
|
Current management
fee (%)
|
New management fee
(%)
|
Investor-2
|
0.45
|
0.30
|
Trailing commissions reduction
Series
|
Current trailing
commissions (%)
|
New trailing
commissions (%)
|
Investor-2
|
0.25
|
0.10
|
The above changes will be reflected in the upcoming amendment to
the simplified prospectus for the NBI Funds, which will be
available on the SEDAR website (www.sedar.com) as well as on the
National Bank Investments website (www.nbinvestments.ca).
About NBI Funds
NBI Funds (the "Funds") are
offered by National Bank Investments Inc., a wholly owned
subsidiary of National Bank of Canada. Commissions, trailing commissions,
management fees and expenses all may be associated with investments
in the Funds. Please read the prospectus of the Funds before
investing. The Funds' securities are not insured by the Canada
Deposit Insurance Corporation or by any other government deposit
insurer. The Funds are not guaranteed, their values change
frequently and past performance may not be repeated.
About National Bank Investments
Inc.
National Bank Investments Inc.
(NBI) is an investment funds management firm committed to
manufacturing and offering mutual funds, exchange-traded funds,
investment solutions and services designed to help Canadian
investors pursue their financial goals. As at March 31, 2021, assets under management in NBI
products were valued at over $69
billion.
Guided by an open architecture strategy, 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. Follow NBI's activities
at nbinvestments.ca or via social
media such
as YouTube and LinkedIn.
National Bank Investments is a member of Canada's Responsible Investment Association
and a signatory of the United Nations-supported Principles for
Responsible Investment.
About National Bank of Canada
With $344 billion in
assets as at January 31, 2021, National Bank of
Canada, together with its
subsidiaries, forms one of Canada's leading integrated financial groups.
It has more than 26,000 employees in knowledge-intensive
positions and has been recognized numerous times as a top employer
and for its commitment to diversity. Its 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