National Bank Securities Inc. announces the convening of a special meeting of
securityholders for the Strategic Yield Class and the termination of two
National Bank Securities Mutual Funds
MONTREAL, March 6, 2013 /CNW Telbec/ - National Bank Securities Inc. ("NBSI")
today announces the convening of a special securityholder meeting for the
National Bank Strategic Yield Class (the "Strategic Yield Class"). At the
special meeting that is scheduled for May 21, 2013, securityholders of the
Strategic Yield Class will be asked to vote on the following proposed changes:
-- A change in the fundamental investment objectives of the
Strategic Yield Class, which would allow the fund to move from
an options-based investment strategy, to one better adapted to
the current market environment - namely, investment in
short-term debt securities; and
-- A change to the fund's redemption rights, which would allow the
fund to redeem shares in a more efficient manner when closing
series that are no longer economically viable, or have become
detrimental to investors or the fund in some manner.
If the change in investment objectives is approved by the fund's
securityholders, the Strategic Yield Class's investment strategies will be
changed accordingly, and the fund will be renamed the "National Bank Short
Term Yield Class". Subject to securityholder approval, the proposed changes
will take effect on or about May 28, 2013.
NBSI also announces that it shall be closing two funds - the Omega Global
Opportunities Fund and the National Bank Canadian Opportunities Fund
(collectively, the "Opportunities Funds") - in order to streamline its fund
line-up, and provide investors with a more cost-effective and competitive
array of investment solutions. Immediately following the close of business
today, March 6, 2013, the Opportunities Funds will be closed to any new
purchases, including those pursuant to pre-established systematic investment
and distribution reinvestment plans. The termination of the Opportunities
Funds shall take effect on or about May 28, 2013.
All information pertaining to the changes proposed as part of the special
meeting will be provided to current investors, and potential investors can
obtain this information from National Bank Securities Inc. prior to the
special meeting. The time and place of the special meeting will appear in the
notice of meeting and management circular which shall be mailed to
securityholders. In addition, this information will be posted on www.sedar.com
and will be available from your advisor or from National Bank Securities Inc.
About National Bank Securities Inc.
National Bank Securities Mutual Funds (the "Funds") are offered by National
Bank Securities 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 of Canada
With $184 billion in assets as at January 31, 2013, National Bank of Canada
(www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and was named among the five strongest banks in
the world by Bloomberg Markets. The Bank has close to 20,000 employees and is
widely recognized as a top employer. Its securities are listed on the Toronto
Stock Exchange (TSX: NA). Follow the Bank's activities via social media and
learn more about its extensive community involvement at clearfacts.ca and
(The telephone number provided below is for the exclusive use of journalists
and other media representatives.):
Marie-Pierre Jodoin Senior Advisor - Public Affairs National Bank Tel.:
SOURCE: National Bank of Canada
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CO: National Bank of Canada
NI: FIN FND FLOWS FIN 2523
-0- Mar/06/2013 15:09 GMT
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