National Bank Securities Inc. Announces Changes to the National Bank
Securities Mutual Funds
MONTREAL, May 2, 2014 /CNW Telbec/ - National Bank Securities Inc. ("NBSI"),
manager of the National Bank Securities Mutual Funds (the "Funds"), announced
today that it was implementing changes to the Funds. Such changes will be
reflected in the Simplified Prospectus of the National Bank Securities Mutual
Funds which will be filed on or about May 12, 2014.
First, NBSI announces a change in the risk rating associated with investments
in certain Funds. NBSI has a risk rating policy based upon the guidelines
established by the Investment Funds Institute of Canada which are themselves
based primarily upon the variability of a mutual fund's returns. In the
application of this policy, NBSI decided to change the risk rating of certain
Funds, as indicated below. No material change has been made to the investment
objectives, strategies or management of these Funds.
| | | |
|Name of Funds |Current Risk Rating |New Risk Rating|
| | | |
|Altamira Corporate Bond Fund |Low to medium |Low |
|National Bank Monthly Moderate|Low to medium |Low |
|Income Fund | | |
|National Bank Monthly High |Medium |Low to medium |
|Income Fund | | |
|National Bank Monthly Equity |Medium |Low to medium |
|Income Fund | | |
|AltaFund Investment Corp. |Medium |Medium to high |
|Altamira Quebec Growth Fund |Medium to high |Medium |
Second, NBSI announces a change in the investment strategy of the Altamira
Tactical Asset Allocation Fund in order to allow the Fund to increase its
investments in foreign securities, namely in debt securities issued by
governments, municipalities or companies in developed and emerging countries,
in agency securities and in high yield bonds. Changes made to the investment
strategy of the Fund seek to provide greater diversification among the
different asset classes. NBSI does not expect the risk level of the Fund to
increase due to this change.
Finally, NBSI announces the re-opening of the Omega Preferred Equity Fund to
new investors as of May 12, 2014. The Fund had been closed to new investors
since September 30, 2012. The Omega Preferred Equity Fund is managed by Intact
Investment Management ("Intact"). The Fund's investment objective is to
generate high dividend income while focusing on capital preservation.
"The Omega Preferred Equity Fund has proven to be an excellent investment
product for investors looking for stable distributions in the form of dividend
income and we are proud to be able to allow new investors to benefit from
Intact's expertise" said Michel Falk, President of NBSI.
About National Bank Securities Inc.
National Bank Securities Inc. is a subsidiary specializing in designing and
managing mutual funds and mutual fund portfolios. We are an investment fund
management firm dedicated to providing a broad selection of investment
solutions that meet a variety of investment profiles. National Bank
Securities' role is not limited to administrative aspects of management;
National Bank Securities Advisory Services and its registered mutual fund
representatives form a team of specialists who provide information and advice
to help you develop a portfolio adapted to your financial needs.
Products offered by National Bank Securities are distributed in the National
Bank branch network, through National Bank Direct Brokerage, National Bank
Financial and by authorized external brokers across Canada. The value of
assets under management in National Bank Securities products is $16.5 billion
(as at October 31, 2013).
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. For
money market funds, there can be no assurances that a fund will be able to
maintain its net asset value per security at a constant amount or that the
full amount of the investment in a fund will be returned. The Funds are not
guaranteed, their values change frequently and past performance may not be
About National Bank of Canada
With $195 billion in assets as at January 31, 2014, National Bank of Canada
(www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and has been named among the 20 strongest banks
in the world by Bloomberg Markets magazine. 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 commitment.nationalbank.ca.
SOURCE National Bank of Canada
(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.:
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-0- May/02/2014 20:09 GMT
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