National Bank Investments Announces Portfolio Management Changes
Montreal, February 22, 2023 – National Bank Investments Inc. (‟NBI”) announced today portfolio manager and portfolio sub-advisor changes for certain NBI Funds and NBI Exchange-Traded Funds (“NBI ETFs”).
On or about April 24, 2023, National Bank Trust Inc. (“NBT”) will replace BNY Mellon Asset Management Canada Ltd. as portfolio manager of the NBI Global Real Assets Income Fund. On the same date, Nuveen Asset Management, LLC (“Nuveen”) will replace Newton Investment Management North America, LLC (“Newton”) as portfolio sub-advisor of the fund and will also replace Newton as portfolio sub-advisor of the NBI Global Real Assets Income ETF.
Beginning on or about April 10, 2023, StonePine Asset Management Inc. will jointly act as portfolio sub-advisor alongside Fiera Capital Corporation for the NBI Global Equity Fund, the NBI U.S. Equity Fund, the NBI International High Conviction Equity Private Portfolio, and the NBI U.S. High Conviction Equity Private Portfolio.
NBT, as portfolio manager of these funds, will provide oversight to ensure that the sub-advisors’ decisions remain aligned with their respective mandates. The investment objectives of the funds remain unchanged.
These changes are in line with the governance process underlying NBI’s open architecture structure.
The changes will be reflected in the upcoming amendments to the simplified prospectus for NBI Funds and the upcoming amendments to the prospectus for NBI ETFs, which will be available on the SEDAR website as well as on the National Bank Investments 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 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 NBI ETFs
NBI ETFs are offered by National Bank Investments Inc., a wholly owned subsidiary of National Bank of Canada. Management fees, brokerage fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the prospectus or ETF Facts document before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns.
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 December 31, 2022, assets under management in NBI products were valued at over $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 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 $404 billion in assets as at October 31, 2022, National Bank of Canada, together with its subsidiaries, forms one of Canada’s leading integrated financial groups. The Bank has more than 29,000 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.
Senior Advisor, Public Affairs and Corporate Social Responsibility
National Bank ofCanada