Press Releases

National Bank Securities makes changes to its fund family

Montreal, 6 December 2004 -

National Bank Securities will be making changes to its family of funds starting March 31, 2005.  Three National Bank/Fidelity co-branded mutual funds—National Bank/Fidelity Global Allocation Fund, National Bank/Fidelity Growth America Fund, and National Bank/Fidelity Special Financial Services Fund—will be discontinued, and all of the funds in the Protected fund family will be closed.

All National Bank/Fidelity unitholders will have to sell or transfer their positions before March 31, 2005.  After that date, their holdings will be automatically transferred to the National Bank Money Market Fund.  Holders of Protected Funds will be able to keep their units after March 31, 2005, but will not be able to purchase additional units or switch to another Protected Fund.  Their capital, however, will still be guaranteed for a maximum of 10 years.

Investors will have numerous options from which to choose, such as our personalized investment solutions, which are available through our line of Diversified Funds and the Strategic Portfolios. Index-linked instruments (Active Management GICs) and capital guaranteed notes (Blue Chip Notes) are solid alternatives in terms of performance and security.

“With the volatility of financial markets in recent years many investors have been turning to alternative investment solutions.  Our personalized investment solutions have become very popular and demand for capital-guaranteed products whose return potential is tied to benchmarks has really taken off,” explained Charles Guay, President and Chief Operating Officer of National Bank Securities.  We therefore had to gear our product offering to the investment solutions our clients were seeking,” he added.

National Bank Securities is a wholly owned subsidiary of National Bank of Canada, which offers a complete suite of investment solutions to individual and commercial investors.

About the National Bank of Canada
National Bank of Canada is an integrated group which 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. The 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. The National Bank has assets close to $89 billion and, together with its subsidiaries, employs close to 16,500 people. The Bank's securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank's website at

Information: (The telephone number provided below is for the exclusive use of journalists and other media representatives.)

Denis Dubé
Manager - Public Relations
National Bank of Canada
Tel.: (514) 394-8644