MONTREAL, May 17, 2021 /CNW Telbec/ - National Bank
Investments Inc. ("NBI") announces the results of the votes at the
virtual special meetings of securityholders of certain NBI Funds
and National Bank Funds Corporation held today (the "Meetings").
These fund merger proposals stem from a series of initiatives
that aim to simplify NBI's product lineup, while also delivering
benefits for both investors and advisors offering NBI Funds.
Results of the fund mergers meetings
During the
Meetings, securityholders of the NBI Funds approved the following
fund mergers:
Fund mergers on or about May 21,
2021
Terminating
Funds
|
Continuing
Funds
|
NBI U.S. Dividend
Fund
|
NBI SmartData
U.S. Equity Fund
|
NBI Canadian Equity
Fund
|
NBI Jarislowsky
Fraser Select Canadian Equity Fund
|
NBI Real Assets
Private Portfolio
|
NBI Global Real
Assets Income Fund
|
NBI High Yield Bond
Private Portfolio
|
NBI High Yield Bond
Fund
|
Meritage Canadian
Equity Class Portfolio
|
Meritage Canadian
Equity Portfolio
|
Meritage Global
Equity Class Portfolio
|
Meritage Global
Equity Portfolio
|
Meritage Growth Class
Portfolio
|
Meritage Growth
Portfolio
|
Meritage Growth Plus
Class Portfolio
|
Meritage Growth Plus
Portfolio
|
Meritage Global
Growth Class Portfolio
|
Meritage Global
Growth Portfolio
|
Meritage Global
Growth Plus Class Portfolio
|
Meritage Global
Growth Plus Portfolio
|
Fund mergers on or about May 28,
2021
Terminating
Funds
|
Continuing
Funds
|
National Bank Secure
Diversified Fund
|
NBI Secure
Portfolio
|
National Bank
Conservative Diversified Fund
|
NBI Conservative
Portfolio
|
NBI Dividend
Fund
|
National Bank
Moderate Diversified Fund
|
NBI Moderate
Portfolio
|
National Bank
Balanced Diversified Fund
|
NBI Balanced
Portfolio
|
National Bank Growth
Diversified Fund
|
NBI Growth
Portfolio
|
NBI Canadian
Diversified Bond Private Portfolio
|
NBI Canadian Bond
Private Portfolio
|
NBI Municipal Bond
Plus Private Portfolio
|
NBI Canadian Small
Cap Equity Private Portfolio
|
NBI Small Cap
Fund
|
Fund mergers on or about June 4,
2021
Terminating
Funds
|
Continuing
Funds
|
NBI Tactical Mortgage
& Income Fund
|
NBI Floating Rate
Income Fund
|
NBI Strategic U.S.
Income and Growth Fund
|
NBI Unconstrained
Fixed Income Fund
|
NBI Global Bond
Fund
|
NBI Global Tactical
Bond Fund
|
Meritage Tactical ETF
Fixed Income Portfolio
|
Securityholders of the NBI Canadian Index Fund, the NBI U.S.
Index Fund, the NBI U.S. Currency Neutral Index Fund, the NBI
International Index Fund and the NBI International Currency Neutral
Index Fund have approved the proposed mergers involving them.
Although, the mergers remain subject to approval by securityholders
of the NBI Canadian Equity Index Fund, the NBI U.S. Equity Index
Fund and the NBI International Equity Index Fund at a meeting to be
held in or about September. The new effective date of the mergers
and other relevant information regarding the upcoming meetings will
be announced in the forthcoming weeks.
Results of fixed-rate administration fee
Meetings
During the Meetings, securityholders of the NBI
Jarislowsky Fraser Select Income Fund and NBI Jarislowsky Fraser
Select Canadian Equity Fund approved a change to the way certain
operating expenses are charged to the funds. These operating
expenses will therefore be replaced by fixed-rate administration
fees, which NBI will begin paying on or about May 19, 2021.
Risk rating changes
NBI also announced a change in the
risk rating of certain NBI Funds (effective immediately):
Fund
|
Current risk
level
|
New risk
level
|
NBI Moderate
Portfolio
|
Low
|
Low to
medium
|
Meritage Balanced
Income Portfolio
|
Low
|
Low to
medium
|
NBI Preferred Equity
Fund
|
Low to
medium
|
Medium
|
NBI Small Cap
Fund
|
Medium
|
Medium to
high
|
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, investment solutions and services designed
to help Canadian investors pursue their financial goals. As at
March 31, 2020, 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