Launched in 2006, these Portfolios offer an objectively managed portfolio solution featuring mutual funds and exchange-traded funds (ETFs). The Meritage family now includes more than 30 portfolios designed to cater to any investor profile.
The success of Meritage depends on partnerships with renowned firms. These firms complement each other and are selected for their expertise and performance history.
Learn more about Meritage Tactical ETF Porfolios
Markets are constantly evolving and investors may want to take advantage of certain market conditions or protect themselves against certain risks. In such cases, it is useful to tactically deviate from the initially targeted asset allocation.
An optimal blend of some of the best low-cost ETFs on the market and tactically managed asset allocation based on market conditions.
Tactical asset allocation
Meritage ETF Portfolios undergo a review process during which the asset allocation and choice of underlying ETFs are subject to frequent change in order to reflect market conditions. The allocation of Meritage Portfolios is determined after consultation with the Asset Allocation Committee, which is made up of renowned economists and portfolio strategists within the National Bank group.
NBI manages the currency exposure strategy.
Construction of Meritage Tactical Portfolios
The tactical biases we want to leverage are determined quaterly.
To adapt to the evolution of financial markets, certain deviations can be implemented by overweighting or underweighting the ETFs currently found in the Portfolios. These deviations seek to create added value for the Portfolios while helping mitigate short-term volatility.
Performance attribution is carried out each month to ensure optimal risk management.
Learn more about the Meritage Strategic Portfolios
An optimal blend of actively managed funds.
Meritage Portfolios are automatically rebalanced to respect their target allocation and prevent overexposure in any specific asset class. If the market value of a fund deviates more than 2.5% from its target allocation or an asset class varies by more than 5%, we will rebalance the Portfolio.
The currency exposure strategy is managed by portfolio managers.
Construction of Meritage Strategic Portfolios
First, the objective of the Portfolio and the optimization factors are determined. Subsequently, NBI establishes potential range of returns, volatility and correlation for the main asset classes through consultation with economists and other experts.
With the investment objectives and quantitative parameters well established, we carry out optimization to maximize the risk/return ratio.
Once the optimal asset allocation is determined, we verify the results obtained in comparison to the expected returns and risk parameters of the underlying funds selected for the Portfolio.
Optimization is completed again each year to ensure the Portfolio's asset allocation remains optimal.
Meritage Global Portfolios
Meritage Income Portfolios
Meritage Investment Portfolios
Meritage Equity Portfolios
A three-stage selection process and in-depth analysis identifies the best mutual funds and ETFs on the market for each asset class.
Continuous monitoring allows us to be prepared for any eventuality, such as a portfolio manager change.
We have selected between 30 and 50 of the best mutual funds and ETFs on the market using our unique fund selection process. This multi-stage, quantitative selection process was developed by a financial engineering team of investment specialists. Updates and follow-ups are carried out periodically to ensure that the funds continuously meet the selection criteria and that the Portfolios remain optimal.
Focus on proven funds
5,000 funds and 2,000 ETFs
Seek added value with optimal volatility
200 to 400 funds and ETFs
Make informed choices
20 to 30 funds and 10 to 20 ETFs working together to create the perfect combination
Meritage Portfolios provide a wide range of solutions, based on various criteria and suited for all types of investors. Regardless of your objectives, investment horizon and risk tolerance, there is a Meritage Portfolio that is suited for you.
Our Portfolios offer optimal exposure and diversification by asset class, geographic region and sector, market capitalization and management style, all within an integrated range of model portfolios.
Are Meritage Strategic Portfolios automatically rebalanced?
Meritage strategic portfolios are rebalanced on an ongoing basis to fit the initial selection and prevent overexposure in any specific asset category. If a specific fund market value deviates more than 2.5% from its original target or an asset class varies by more than 5%, we will proceed with a rebalancing of the portfolio.
Your personal situation and financial needs will change over your lifetime. For this reason, some Meritage Portfolios are also offered in a corporate class. These portfolios are specifically designed to adapt to the various stages of your life and help you reach your investment goals.
The Meritage Corporate Class Portfolios are share classes of the same mutual fund corporation.
This solution is particularly beneficial to:
Deferred taxation of portfolio conversions combined with tax-efficient distributions over many years allow you to get the most out of your investment.
You can transition from the accumulation phase to the payout phase within the corporate class structure without triggering a tax event. In addition, the T Series provides tax-efficient monthly distributions, consisting mainly of return of capital.
Certain Meritage Portfolios are also offered as income portfolios to provide you with stable monthly distributions1 made up, in part, of net income and
Exemple of Meritage Portfolios distributions
|Meritage Portfolios||Target distribution||2015 Actual Distribution|
|2015||2016||% Income/Foreign||% Dividends||% ROC||% Capital Gains|
|Diversified Fixed Income
Meritage Tactical ETF Portfolios
Meritage Tactical ETF Portfolios
Meritage Global Portfolios
Investor Profile Questionnaire and Investment Policy Statement (IPS)
Meritage Portfolios provide a wide range of solutions, based on various criteria and suited for all types of investors. Regardless of your objectives, investment horizon and risk tolerance, there is a Meritage Portfolio that is right for you.
1. Distributions are said to be stable as they do not usually change from one to the next. However, the distribution amount per security is not guaranteed and may be adjusted if this is required by market conditions. For more information, please consult the simplified prospectus of the Meritage Portfolios.
2. Return of capital (ROC) distributions gradually reduce the adjusted cost base (ACB) and are considered tax free until the fund units are redeemed. The annual distribution rate of each portfolio is adjusted to avoid a precipitous decline in the ACB. When the ACB drops to zero, subsequent ROC distributions are treated as capital gains in the year they are received.