PRESS RELEASES

National Bank Investments Announces Changes to Select NBI Funds

Montreal, May 3, 2023

National Bank Investments Inc. (“NBI”) announced today changes to select NBI Funds. These changes include management fee reductions, trailing commission reductions and risk rating revisions for some funds as well as the soft capping of certain series of the NBI U.S. High Conviction Equity Private Portfolio and the NBI International High Conviction Equity Private Portfolio (the “Funds”).

 

Management fee reductions

The management fees for the following NBI Funds have been reduced as indicated below (effective immediately):

Fund

Series

Current management fee

New management fee

NBI Global Tactical Bond Fund

Investor, Advisor, U.S.$-Advisor, T, U.S.$-T and R Series

1.60%

1.35%

NBI Canadian All Cap Equity Fund

Investor, Advisor, and T5 Series

2.00%

1.85%

NBI Canadian All Cap Equity Fund

F and F5 Series

0.85%

0.70%

NBI Global Real Assets Income Fund

Investor, Advisor, H and T5 Series

2.00%

1.80%

NBI Global Real Assets Income Fund

F, F5 and FH Series

1.00%

0.80%

NBI Canadian Bond Private Portfolio

Advisor Series

0.85%

0.70%

NBI Corporate Bond Private Portfolio

Advisor Series

0.93%

0.78%

 

Trailing commission reductions

The trailing commissions for the following NBI Funds have been reduced as indicated below (effective immediately):

 

Fund

Series

Current trailing commission

New trailing commission

NBI Global Tactical Bond Fund

Investor, Advisor, U.S.$-Advisor, T, U.S.$-T and R Series

0.75%

0.50%

NBI Canadian Bond Private Portfolio

Advisor Series

0.65%

0.50%

NBI Corporate Bond Private Portfolio

Advisor Series

0.65%

0.50%

 

Risk rating revisions

The risk ratings of the following NBI Funds have been revised as indicated below (effective immediately):

 

Fund

Current risk level

New risk level

NBI Preferred Equity Income Fund

Low to medium

Medium

NBI Conservative Portfolio

Low

Low to medium

NBI Equity Portfolio

Low to medium

Medium

NBI Canadian Equity Fund

Low to medium

Medium

NBI Non-Traditional Fixed Income Private Portfolio

Low

Low to medium

NBI North American Dividend Private Portfolio

Low to medium

Medium

Meritage Global Equity Portfolio

Low to medium

Medium

Meritage Moderate Portfolio

Low

Low to medium

Meritage Moderate Income Portfolio

Low

Low to medium

Meritage Tactical ETF Equity Portfolio

Low to medium

Medium

 

Closed to new subscriptions

F5, T5, Advisor-2, F-2, FH-2, and H-2 Series of the NBI U.S. High Conviction Equity Private Portfolio and the NBI International High Conviction Equity Private Portfolio will be soft capped on or around May 31, 2023. This means that these series will be closed to new investments, except for purchases in existing accounts by unitholders as of the soft capping date, and those with active pre-established systematic investment and distribution reinvestment plans.

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.sedar.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 March 31, 2023, assets under management in NBI products were valued at over $78.4 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 January 31, 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 FacebookLinkedIn and Twitter.


Information:

Stéphanie Rousseau

Senior Advisor, Public Affairs and Corporate Social Responsibility
National Bank of Canada