Meritage Portfolios®
Invest with confidence in a volatile economy
Consult the Round Table
Launched in 2006, Meritage Portfolios offer an objectively managed investment solution featuring mutual funds and exchange-traded funds (ETFs). With 24 options tailored to a wide range of investor profiles, their success is built on partnerships with renowned firms chosen for their expertise and proven performance.
- Meritage Tactical ETF Portfolios
- Meritage Strategic Portfolios
Learn 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.
Value added
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 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.
Currency management
NBI manages the currency exposure strategy.
Construction of Meritage Tactical Portfolios
The tactical biases we want to leverage are determined quarterly. 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 about Meritage Strategic Portfolios
Value added
An optimal blend of actively managed funds.
Automatic rebalancing
Meritage Portfolios, except those that include Tactical ETF Portfolios, are automatically rebalanced to maintain their target allocation and prevent overexposure to any specific asset class. If the market value of a fund deviates by more than 2.5% from its target allocation or an asset class varies by more than 5%, we will rebalance the Portfolio.
Currency management
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 a 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 Portfolios by asset class
Conservative | Moderate | Balanced | Growth | Growth Plus
Conservative | Moderate | Balanced | Growth | Growth Plus
Canadian | Global | International | American
Agile
Our open architecture structure allows us to work with some of the best portfolio managers from around the world.
Diligent
A three-stage selection process and in-depth analysis identifies the best mutual funds and ETFs on the market for each asset class.
Proactive
Continuous monitoring allows us to be prepared for any eventuality, such as a portfolio manager change.
A range of portfolios
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.
People first
We believe that people are at the heart of finance and investing. Our wide range of mutual funds, ETFs and portfolio solutions is designed with your goals in mind.
Results driven
We carefully select and monitor portfolio managers to deliver a balance of growth and protection.
Access to top talent
Our flexible structure enables us to select top portfolio managers from the world's most experienced investment firms.
Looking for more ways to invest with confidence? Explore our full range of solutions designed to fit different goals and strategies.
NBI Mutual Funds
NBI Mutual Funds offer professionally managed, diversified investment solutions to help you reach your financial goals. Explore our mutual fund options to find the approach that works best for you.
NBI ETFs
NBI Exchange-Traded Funds provide low-cost, diversified exposure and innovative strategies, managed by professionals worldwide.
Sustainable solutions
Explore NBI sustainable solutions that combine responsible investing with long-term growth potential. Learn how you can make a positive impact while pursuing your financial goals.
Auto-rebalancing
Our approach
Meritage Equity, Investment, Income and Global Portfolios are automatically rebalanced when:
An example
Periodic rebalancing of a portfolio brings it back in line with its target asset allocation:
Tax-efficient distribution
How to benefit from a tax-efficient distribution?
Certain Meritage Portfolios are also offered as income portfolios to provide you with fixed monthly distributions1 made up, in part, of net income and
General information
General
- Meritage Portfolios: Advisor presentation
- Brochure
- Meritage Portfolios at a glance
- Meritage Portfolios summary table
Performance
- Monthly performance: Advisor Series | F Series
- Meritage Portfolios: Percentiles
- Meritage Portfolios: Morningstar 4- and 5-star ratings
Distributions
- Meritage Portfolios: Estimated year-end distributions per unit
- Distributions paid by Meritage Portfolios (by unit)
Quarterly Asset Evolution Reports
Outlook
Advisor material
General information
- Historical changes: Meritage Tactical ETF Portfolios | Meritage Strategic Portfolios
Investor Profile Questionnaire and Investment Policy Statement (IPS)
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.
Investor Profile Questionnaire*
* FOR INFORMATION PURPOSES ONLY. This questionnaire is for information purposes only. It is not intended to replace a complete investment suitability analysis or to be considered as investment advice. It is intended solely as a reference document to assist investors in selecting the portfolio that best suits their investment needs. This questionnaire is not intended to replace any questionnaire required at the time of the purchase of securities, and at all times, the latter takes precedence.
Investment Policy Statement (IPS)
Do you have questions?
Our sales team
Benefit from our sales team’s expertise for personalized support. Available Monday to Friday from 8:30 a.m. to 5 p.m. (ET)
Operational support
Contact us:
Call us Monday to Friday from 8 a.m. to 8 p.m. (ET): 1-877-463-7627
Send us an email: dealer.services@nbc.ca
Little details that matter
1. The distribution is said to be fixed for each Meritage Income Portfolio as it does not vary from one distribution to the next. However, it is not guaranteed and may vary according to market conditions. Meritage Income Portfolios make monthly distributions at the end of each month. These monthly distributions are composed of net income and/or return of capital. For more information, please consult the simplified prospectus of Meritage Portfolios.
2. A return of capital reduces the value of the original investment and is not the same as the return on the investment. Returns of capital that are not reinvested may reduce the net asset value of the Portfolio and the Portfolio's subsequent ability to generate income.
The information and the data supplied on the current page of this site, including those supplied by third parties, are considered accurate at the time of their publication and were obtained from sources which we considered reliable. We reserve the right to modify them without advance notice. This information and data are supplied as informative content only. No representation or guarantee, explicit or implicit, is made as for the exactness, the quality and the complete character of this information and these data. The opinions expressed are not to be construed as solicitation or offer to buy or sell shares mentioned herein and should not be considered as recommendations.
Meritage Portfolios® (the “Portfolios”) are managed by National Bank Investments Inc., an indirect and wholly owned subsidiary of National Bank of Canada, and sold by authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the Portfolios before investing.
NBI Funds (the “Funds”) are offered by National Bank Investments Inc., an indirect and wwholly owned subsidiary of National Bank of Canada, and sold by authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the Funds before investing.
NBI exchange-traded funds (the "NBI ETFs") are offered by National Bank Investments Inc., an indirect and wholly owned subsidiary of National Bank of Canada. Management fees, brokerage fees and expenses all may be associated with investments in NBI ETFs. Please read the prospectus or ETF Facts document(s) before investing. NBI ETFs are not guaranteed, their values change frequently and past performance may not be repeated. NBI ETFs units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. NBI ETFs do not seek to return any predetermined amount at maturity.
The Portfolios’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Portfolios are not guaranteed, their values change frequently and past performance may not be repeated.
® MERITAGE PORTFOLIOS and the Meritage Portfolios logo are registered trademarks of National Bank of Canada, used under licence by National Bank Investments Inc.
® NATIONAL BANK INVESTMENTS is a registered trademark of National Bank of Canada, used under licence by National Bank Investments Inc.
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.