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Our fund series explained

Key information about our fund series offering

NBI Funds are offered across one or more series. The choice of series will have an impact on the fees paid and the compensation the advisor receives.

To see which funds are offered in our series, click into the fund codes on our product page.

 

Advisor, T & T5 Series

These series are offered under one of the following three sales charge options:

Option 1 :
Initial sales charge

An initial sales charge (negotiated with their dealer) applies when investors purchase fund securities. Fees cannot exceed 5% of the purchase price of these securities.1

 

Option 2 :
Deferred sales charge

Redemption fees are charged if investors ask for their securities to be redeemed within 6 years of purchase (see grid below). There are no fees payable at the time of purchase.2

Option 3 :
Low sales charge

Redemption fees are charged if investors ask for their securities to be redeemed within 3 years of purchase (see grid below). There are no fees payable at the time of purchase.3

1 In the case of the NBI Jarislowsky Fraser Funds, initial sales charges are 0%.
2 This option is not available for the H Series of the NBI SmartData U.S. Equity Fund and NBI SmartData International Equity Fund, the NBI Jarislowsky Fraser Funds and the NBI Private Portfolios.
3 This option is not available for the NBI Private Portfolios.

 

Please note that these purchase options also apply to the H Series (see the H & FH Series section below).

 

Fee structure comparison for deferred or low sales charges

There are never any sales charges, redemption fees, switch fees and conversion fees when securities are purchased through NBI. Otherwise, the structure is as follows:

Securities sold during the following periods after purchase Sales charge if bought with the Deferred Sales option1 Sales charge if bought with the Low Sales  option
During Year 1 6% 3%
During Year 2 5.5% 2.5%
During Year 3 5% 2%
During Year 4 4.5% 0%
During Year 5 3% 0%
During Year 6 1.5% 0%
After Year 6 and onwards 0% 0%

1Fees are payable when more than 10% of the securities held are redeemed.


How are they different?

The biggest differentiating factor lies in their distribution policies. The T and T5 series are meant more for investors looking to obtain regular, fixed monthly distributions. The Advisor series are more variable and difficult to predict, with any capital gains distributed annually in December.

 

F, F5 & FT Series

These series are only offered to investors with a fee-based account with dealers who have entered into an agreement with us.

Please note that this also applies to our FH Series (see the H & FH Series section below).
 

Fee structure

Investors pay their dealer an annual fee based on the asset value of their account instead of paying commissions or fees on each purchase, switch, conversion or redemption.

How are they different?

It all lies in their distribution policies. The F5 and FT series are meant more for investors looking to obtain regular, fixed monthly distributions. The F series are more variable and difficult to predict, with any capital gains distributed annually in December.

 

H & FH Series

Our hedged series are intended for investors looking to obtain exposure to foreign equity markets while minimizing the impact of foreign currency fluctuations against the Canadian dollar. When portfolio managers purchase foreign securities, foreign currency-forward contracts are used for hedging purposes, which aims to reduce fund turnover and transaction cost.
 

Fee structure

FH Securities

The dealer is paid an annual fee based on the asset value of the investor’s account instead of having the investor pay commissions or fees on each purchase, switch, conversion or redemption.

H Securities

See the Initial, Deferred and Low sales charge options (and their exceptions) in the Advisor, T & T5 series section above.


How are they different?

FH Series securities have the same attributes as F Series securities, and H Series securities have the same attributes as Advisor Series securities, except that they both aim to reflect the fund’s returns after all the exposure to currency fluctuations has been substantially hedged. Capital gains are distributed annually in December when applicable.
 

U.S.$-Advisor, U.S.$-F, U.S.$-FT & U.S.$-T Series

The U.S.$-Series has the same features and eligibility requirements as its corresponding Advisor, F, FT, and T Series. However, securities of the U.S.$-Series may only be purchased and redeemed in U.S. dollars.
 

Fee structure

See the Initial, Deferred and Low sales charge options in the Advisor, T & T5 Series and F, F5 & FT Series sections above.
 

How are they different?

These series differ only in currency.

 

Looking for more information on our Series? More details are available in our Prospectus.