MONTREAL, Nov. 15,
2023 /CNW/ - National Bank Investments Inc. ("NBI")
announced today portfolio manager changes as well as management fee
reductions for certain NBI Funds.
Portfolio Management Changes
On or around December 15, 2023,
National Bank Trust Inc. ("NBT") will terminate the mandate of
Great Lakes Advisors, LLC as index sub-advisor of the NBI
SmartBeta Global Equity Fund and the NBI SmartBeta
Canadian Equity Fund. On the same date, the two funds will be
renamed as follows:
|
Current
Name
|
New
Name
|
|
NBI SmartBeta
Global Equity Fund
|
NBI SmartBeta
Low Volatility Global Equity Fund
|
|
NBI SmartBeta
Canadian Equity Fund
|
NBI SmartBeta
Low Volatility Canadian Equity Fund
|
On or around November 15,
2023, NBT will replace Jarislowsky, Fraser Limited
("Jarislowsky, Fraser") as portfolio manager of the NBI Canadian
Equity Fund, the NBI Jarislowsky Fraser Select Income Fund, the NBI
Jarislowsky Fraser Select Balanced Fund, and the NBI North American
Dividend Private Portfolio. Effective on the same date, NBT
will retain Jarislowsky, Fraser as portfolio sub-advisor for these
funds.
On June 17, 2022 (the "Effective
Date"), NBT replaced Fiera Capital Corporation ("Fiera") as
portfolio manager and retained Fiera as portfolio sub-advisor for
the following funds:
|
Affected
Funds
|
Changes in Portfolio
Sub-Advisor Since the Effective Date
|
|
-
NBI Money Market Fund
-
NBI Income Fund
-
NBI Corporate Bond Fund
-
NBI Preferred Equity Fund
-
NBI Small Cap Fund
-
NBI Quebec Growth Fund
-
NBI U.S. Bond Private
Portfolio
-
NBI Corporate Bond Private
Portfolio
-
NBI Canadian Preferred Equity Private
Portfolio
|
No changes since the
Effective Date
|
|
-
NBI Bond Fund
-
NBI Canadian Bond Private
Portfolio
|
Since October 4,
2022, AlphaFixe Capital Inc. jointly acts as portfolio
sub-advisor alongside Fiera for these funds.
|
|
-
NBI Global Equity Fund
-
NBI U.S. Equity Fund
-
NBI U.S. High Conviction Equity Private
Portfolio
-
NBI International High Conviction Equity
Private Portfolio
|
Since April 10,
2023, PineStone Asset Management Inc. jointly acts as
portfolio sub-advisor alongside Fiera for these
funds.
|
|
-
NBI Resource Fund
-
NBI Precious Metals Fund
|
On September 29,
2022, Foyston, Gordon & Payne Inc. replaced Fiera as
portfolio sub-advisor for these funds.
|
|
-
NBI Innovators Fund (formerly NBI Science
and Technology Fund)
|
On November 30,
2022, J.P. Morgan Investment Management Inc. replaced Fiera
as portfolio sub-advisor for this fund.
|
As portfolio manager, NBT provides oversight to ensure that
the portfolio sub-advisors' decisions align with their respective
mandates.
The funds' investment objectives remain unchanged. These
changes are part of NBI's open architecture structure governance
process.
Management Fee Reductions
Effective immediately, management fees for the fund series
listed in the table below will be reduced as follows:
|
Funds and
Series*
|
Current Management
Fee
|
New Management
Fee
|
|
Meritage Equity
Portfolios
|
|
Meritage Canadian
Equity Portfolio
(Advisor and T5
Series)
|
2.00 %
|
1.80 %
|
|
Meritage Canadian
Equity Portfolio
(F and F5
Series)
|
0.85 %
|
0.80 %
|
|
Meritage American
Equity Portfolio
(Advisor and T5
Series)
|
2.00 %
|
1.90 %
|
|
Meritage American
Equity Portfolio
(F and F5
Series)
|
1.00 %
|
0.85 %
|
|
Meritage International
Equity Portfolio
(F and F5
Series)
|
1.00 %
|
0.90 %
|
|
Meritage Investment
Portfolios
|
|
Meritage Conservative
Portfolio
(Advisor and T5
Series)
|
1.65 %
|
1.60 %
|
|
Meritage Conservative
Portfolio
(F and F5
Series)
|
0.80 %
|
0.70 %
|
|
Meritage Moderate
Portfolio
(Advisor and T5
Series)
|
1.65 %
|
1.60 %
|
|
Meritage Moderate
Portfolio
(F and F5
Series)
|
0.80 %
|
0.70 %
|
|
Meritage Balanced
Portfolio
(Advisor and T5
Series)
|
1.90 %
|
1.85 %
|
|
Meritage Balanced
Portfolio
(F and F5
Series)
|
0.90 %
|
0.70 %
|
|
Meritage Growth
Portfolio
(F and F5
Series)
|
0.90 %
|
0.85 %
|
|
Meritage Growth Plus
Portfolio (F and F5
Series)
|
0.90 %
|
0.85 %
|
|
Meritage Income
Portfolios
|
|
Meritage Diversified
Fixed Income Portfolio
(Advisor
Series)
|
1.50 %
|
1.35 %
|
|
Meritage Diversified
Fixed Income Portfolio
(F Series)
|
0.75 %
|
0.60 %
|
|
Meritage Conservative
Income Portfolio
(Advisor
Series)
|
1.70 %
|
1.45 %
|
|
Meritage Conservative
Income Portfolio
(F Series)
|
0.85 %
|
0.70 %
|
|
Meritage Moderate
Income Portfolio
(Advisor
Series)
|
1.70 %
|
1.55 %
|
|
Meritage Moderate
Income Portfolio
(F Series)
|
0.85 %
|
0.75 %
|
|
Meritage Balanced
Income Portfolio
(Advisor
Series)
|
1.95 %
|
1.80 %
|
|
Meritage Balanced
Income Portfolio
(F Series)
|
0.95 %
|
0.75 %
|
|
Meritage Growth
Portfolio
(F Series)
|
0.95 %
|
0.85 %
|
|
Meritage Growth Plus
Income Portfolio
(F Series)
|
0.95 %
|
0.85 %
|
|
Meritage Global
Portfolios
|
|
Meritage Global
Conservative Portfolio
(Advisor and T5
Series)
|
1.75 %
|
1.70 %
|
|
Meritage Global
Conservative Portfolio
(F and F5
Series)
|
0.90 %
|
0.80 %
|
|
Meritage Global
Moderate Portfolio
(Advisor and T5
Series)
|
1.75 %
|
1.70 %
|
|
Meritage Global
Moderate Portfolio
(F and F5
Series)
|
0.90 %
|
0.80 %
|
|
Meritage Global
Balanced Portfolio
(Advisor and T5
Series)
|
2.00 %
|
1.95 %
|
|
Meritage Global
Balanced Portfolio
(F and F5
Series)
|
1.00 %
|
0.85 %
|
|
Meritage Global Growth
Portfolio
(Advisor and T5
Series)
|
2.00 %
|
1.95 %
|
|
Meritage Global Growth
Portfolio
(F and F5
Series)
|
1.00 %
|
0.85 %
|
|
Meritage Global Growth
Plus Portfolio
(F and F5
Series)
|
1.00 %
|
0.90 %
|
|
Meritage Tactical
ETF Portfolios
|
|
Meritage Tactical ETF
Moderate Portfolio
(Advisor and T5
Series)
|
1.35 %
|
1.15 %
|
|
Meritage Tactical ETF
Moderate Portfolio
(F and F5
Series)
|
0.60 %
|
0.40 %
|
|
Meritage Tactical ETF
Balanced Portfolio
(Advisor and T5
Series)
|
1.60 %
|
1.40 %
|
|
Meritage Tactical ETF
Balanced Portfolio
(F and F5
Series)
|
0.60 %
|
0.40 %
|
|
Meritage Tactical ETF
Growth Portfolio
(Advisor and T5
Series)
|
1.60 %
|
1.40 %
|
|
Meritage Tactical ETF
Growth Portfolio
(F and F5
Series)
|
0.60 %
|
0.40 %
|
|
Meritage Tactical ETF
Equity Portfolio
(Advisor and T5
Series)
|
1.60 %
|
1.40 %
|
|
Meritage Tactical ETF
Equity Portfolio
(F and F5
Series)
|
0.60 %
|
0.40 %
|
|
* The reduction applies
to all the purchase options of the series.
|
These changes will be included in the amendment to the NBI
Funds' simplified prospectus, which will be filed on the SEDAR+
website and on the NBI website.
About the NBI Funds
The 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 mutual fund investments. Please read the
prospectus of the Funds before investing. Securities of
the Funds are not insured by the Canada Deposit Insurance
Corporation or 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, investment solutions and services designed
to help Canadian investors pursue their financial goals.
As at September 30, 2023, the
value of assets under management in NBI products were valued at
over $78.31 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 signatory of the United
Nations-supported Principles for Responsible Investment, a member
of Canada's Responsible Investment
Association, and a founding participant in the Climate Engagement
Canada initiative.
About National Bank of Canada
With $426 billion in assets as at July 31, 2023, National Bank of Canada, together with its subsidiaries, forms
one of Canada's leading integrated
financial groups. The Bank has approximately 30,000 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.
SOURCE National Bank of Canada