National Bank Securities Modifies the Investment Strategy of National Bank Protected Funds
Montreal, 23 July 2010 -
National Bank Securities, manager of National Bank Securities Mutual Funds, has announced that it will modify the investment strategy of the following Funds:
National Bank Protected Canadian Bond Fund
National Bank Protected Retirement Balanced Fund
National Bank Protected Growth Balanced Fund
National Bank Protected Canadian Equity Fund
National Bank Protected Global Fund
Beginning July 26, 2010, the Funds will be indirectly invested in various types of securities, in accordance with their investment objectives, by investing up to all of their assets in one or more National Bank Securities Mutual Funds.
The Funds have fewer assets under management after being closed to new sales since March 2005. As a result, it has become increasingly more difficult for the portfolio manager to obtain reasonable diversification of the Funds’ portfolios while minimizing their transaction costs. The modifications to the investment strategies of these Funds seek to resolve this issue in the best interest of the unitholders.
About National Bank Securities Inc.
National Bank Securities Mutual Funds (the “Funds”) and National Bank Strategic Portfolios (the "Portfolios") are offered by National Bank Securities Inc., a wholly owned subsidiary of National Bank of Canada. An investment in the Funds and the use of the Portfolios can lead to trailing commissions, management fees and other expenses. Please read the prospectus of the Funds before investing. There is no guarantee that money market funds can maintain a fixed net asset value per security or that the full amount of your investment in a fund will be returned to you. The Funds’ securities are not insured by the Canadian Deposit Insurance Corporation or any other government deposit insurer. The Funds are not guaranteed. Their values change frequently and past performance is not indicative of future performance.
About National Bank of Canada
National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has over $150 billion in assets and, together with its subsidiaries, employs 18,248 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website atwww.nbc.ca.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Senior Advisor, Public Relations
National Bank Financial Group