National Bank Investments Inc. (“NBI”) announced today the change of portfolio sub-advisor for the NBI Resource Fund, the NBI Precious Metals Fund, the NBI Bond Fund and the NBI Canadian Bond Private Portfolio as well as the reduction of management fees and trailing commissions for certain NBI Funds.
National Bank Trust Inc. (“NBT”), as portfolio manager of the NBI Resource Fund and the NBI Precious Metals Fund, delegated to Fiera Capital Corporation (“Fiera”) investment decisions as portfolio sub-advisor. On or about September 29, 2022, Foyston, Gordon & Payne Inc. will replace Fiera as these funds’ portfolio sub-advisor. NBT will continue to ensure compliance with the investment decisions in relation to the mandates. The investment objective of these funds remains unchanged.
NBT, as portfolio manager of the NBI Bond Fund and NBI Canadian Bond Private Portfolio, delegated to Fiera investment decisions as portfolio sub-advisor. On or about October 4, 2022, AlphaFixe Capital Inc. will jointly act as portfolio sub-advisor of these funds with Fiera. NBT will continue to ensure compliance of investment decisions in relation to the mandates. The investment objectives remain unchanged. However, the NBI Bond Fund will modify its investment strategy to allow it to invest 100% in underlying funds.
These changes are in line with the governance process of NBI’s open architecture structure.
Reduction of management fees
On or about October 1, 2022, the management fees for the following series of the NBI Funds will be reduced as indicated in the table below: