MONTREAL, May 17, 2024
/CNW/ - National Bank Investments Inc. ("NBI") today announced
portfolio sub-advisor changes for certain NBI Funds (the "Funds")
and the closure of the NBI Diversified Canadian Equity Private
Portfolio, the NBI Diversified U.S. Equity Private Portfolio and
the NBI Diversified International Equity Private Portfolio (the
"Portfolios").
Portfolio Management
Changes
On or around June 21, 2024,
National Bank Trust Inc. ("NBT") will transition the portfolio
sub-advisory responsibilities for the NBI Diversified Emerging
Markets Equity Fund from BNY Mellon Asset Management Canada Ltd.
("BNY Mellon") ― which in turn delegated the sub-advisory to Newton
Investment Management Limited ("Newton") ― directly to Artisan
Partners Limited Partnership which will jointly act as portfolio
sub-advisor alongside Goldman Sachs Asset Management L.P.
Therefore, BNY Mellon (and consequently Newton) will no longer
serve as portfolio sub-advisor of the NBI Diversified Emerging
Markets Equity Fund.
On or around June 14, 2024, NBT
will appoint Beutel, Goodman & Company Limited ("Beutel") to
jointly act as portfolio sub-advisor of the NBI Canadian Fixed
Income Private Portfolio with RP Investment Advisors LP
("RPIA").
On or around June 10, 2024, NBT
will transition Fiera Capital Corporation's ("Fiera") portfolio
sub-advisory responsibilities for the NBI Corporate Bond Fund
directly to Beutel and RPIA, which consequently will jointly act as
portfolio sub-advisors of the Fund. Therefore, Fiera will no longer
serve as portfolio sub-advisor of the NBI Corporate Bond Fund.
The Funds' investment objectives remain unchanged. As portfolio
manager, NBT will continue to ensure compliance with investment
decisions in relation to the mandates.
These changes are part of NBI's open architecture structure
governance process.
Termination of
Portfolios
The termination of the Portfolios will take place by
August 31, 2024, at the latest.
Starting at 11:59 p.m. today, NBI will close the Portfolios to
new subscriptions.
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 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 mutual fund investments. 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, 2024, assets under
management in NBI products were valued at over $86.45 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 $434 billion in assets as at January 31, 2024, National Bank of Canada is one of Canada's six systemically important banks. The
Bank has approximately 30,000 employees in knowledge-intensive
positions and operates through three business segments in
Canada: Personal and Commercial
Banking, Wealth Management and Financial Markets. A fourth segment,
U.S. Specialty Finance and International, complements the growth of
its domestic operations. 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