CWB Wealth Management Ltd. (“CWB WM”), the manager of the CWB Onyx
Conservative Solution, the CWB Onyx Balanced Solution, the CWB Onyx
Growth Solution, the CWB Onyx Diversified Income Fund, the CWB Onyx
Canadian Equity Fund, the CWB Onyx North American Equity Fund, and the
CWB Onyx Global Equity Fund (collectively, the “Funds”), announced
today a change to the portfolio manager of the Funds from CWB WM to
its affiliate, National Bank Financial Inc. (“NBF”), and the
discontinuation of the offering and the termination of the Series A
units of the Funds.
These changes are being implemented
as part of the ongoing integration of CWB WM and its products and
services with National Bank of Canada and its related companies
following the acquisition of Canadian Western Bank by National Bank of
Canada earlier this year.
Portfolio manager change
CWB WM currently acts as investment fund manager and portfolio
manager of the Funds. Effective on or about October 10, 2025, CWB WM
will appoint NBF to act as portfolio manager of the Funds. CWB WM will
continue to act as investment fund manager of the Funds. There will be
no changes to the investment objectives or investment strategies of
the Funds as a result of this change.
Discontinuation of the offering of Series A units
Effective on or about November 22, 2025 (the
“Discontinuation Date”), Series A units of the Funds will no longer be
available for purchase for new or existing unitholders, including
purchases made through a pre-authorized purchase plan. Existing
investors may continue to hold their Series A units, but will not be
able to purchase any additional Series A units on or after the
Discontinuation Date.
Termination of Series A units
After close of business on or about March 31, 2026,
Series A Units of the Funds will be terminated. At that time, units of
the Series A will be redeemed at their net asset value and proceeds
distributed to unitholders.
These changes will be
included in the amendment to the Funds’ simplified prospectus, which
will be filed on the SEDAR+ website and posted on the CWB WM website.
PRESS RELEASES
CWB Wealth Management Ltd. Announces Change to Portfolio Manager of CWB Mutual Funds and Discontinuation of Offering and Termination of Series A Units
About National Bank Financial Inc.
With more than $170
billion in assets under management as of October 31, 2024, NBF is
Canada’s 5th largest securities brokerage firm, with over 2000
employees, including more than 900 Wealth Advisors and is a solid
financial partner for close to 300,000 Canadian families. Clients
and their families can rely on NBF’s experienced wealth management
professionals for sound, personalized advice that meets their
changing needs and helps them achieve their lifetime goals. For more
information, visit nbfwm.ca.
About CWB Wealth Management Ltd.
CWB WM is a subsidiary
of National Bank of Canada, a diversified financial services group
providing specialized services in business and personal banking,
trust and wealth management across Canada.
About
National Bank of Canada
With $553 billion in assets as at July 31, 2025, National
Bank of Canada is one of Canada’s six systemically important banks.
The Bank has approximately 34,000 employees in knowledge-intensive
positions and operates through three business segments in Canada:
Personal and Commercial Banking, Wealth Management and Financial
Markets. A fourth segment, U.S. Specialty Finance and International,
complements the growth of its domestic operations. Its securities
are listed on the Toronto Stock Exchange (TSX: NA). Follow the
Bank’s activities at nbc.ca or via social media. NBF is a wholly
owned subsidiary of National Bank of Canada.
For more information:
For further information about CWB WM or the Funds, please visit www.cwbwealth.com, email us at info@cwbwealth.com, or call us at 1-855-292-9655.