National Bank Investments Inc. (‟NBI”) announced today portfolio manager and portfolio sub-advisor changes for certain NBI Funds and NBI Exchange-Traded Funds (“NBI ETFs”).
On or about April 24, 2023, National Bank Trust Inc. (“NBT”) will replace BNY Mellon Asset Management Canada Ltd. as portfolio manager of the NBI Global Real Assets Income Fund. On the same date, Nuveen Asset Management, LLC (“Nuveen”) will replace Newton Investment Management North America, LLC (“Newton”) as portfolio sub-advisor of the fund and will also replace Newton as portfolio sub-advisor of the NBI Global Real Assets Income ETF.
Beginning on or about April 10, 2023, StonePine Asset Management Inc. will jointly act as portfolio sub-advisor alongside Fiera Capital Corporation for the NBI Global Equity Fund, the NBI U.S. Equity Fund, the NBI International High Conviction Equity Private Portfolio, and the NBI U.S. High Conviction Equity Private Portfolio.
NBT, as portfolio manager of these funds, will provide oversight to ensure that the sub-advisors’ decisions remain aligned with their respective mandates. The investment objectives of the funds remain unchanged.
These changes are in line with the governance process underlying NBI’s open architecture structure.
The changes will be reflected in the upcoming amendments to the simplified prospectus for NBI Funds and the upcoming amendments to the prospectus for NBI ETFs, which will be available on the SEDAR website as well as on the National Bank Investments website.