National Bank Investments Announces
Changes Regarding the NBI Canadian Preferred Equity Private Portfolio
Montreal, August 4, 2023 – National Bank Investments Inc. (‟NBI”) announces that, effective today, the units of all series of the NBI Canadian Preferred Equity Private Portfolio (the “Fund”) will no longer be available for purchase by new or existing unitholders, including purchases made through a pre-authorized purchase plan.
NBI was informed that a substantial portion of the Fund’s units will be redeemed progressively in the coming months. Effective immediately, the portfolio sub-advisor, Fiera Capital Corporation, will carry out a progressive and orderly liquidation of the Fund’s assets over this period in order to meet redemption requests. While care will be given to remain invested in accordance with the Fund’s investment objective and strategies, the preferred equity market presents unique challenges. As such, the Fund’s portfolio sub-advisor may, from time to time, depart from the investment objective and strategies stated in the Fund’s prospectus.
During the liquidation period, NBI will assess whether the Fund should ultimately, in the best interest of its unitholders, be terminated or merged with another NBI Fund, depending on market conditions.
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.sedarplus.com) and 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 June 30, 2023, assets under management in NBI products were valued at over $79.76 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 $418 billion in assets as at April 30, 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 such as Facebook, LinkedIn and Twitter.