Annual Reports

Performance Report and Fees and Compensation Report

To ensure greater transparency, 2 new reports have been added to your December 31 investment portfolio statement:
a Performance Report and a Fees and Compensation Report.

Performance Report

This report lists the activity in your account over 2 periods: performance during the past calendar year and performance since the account’s inception. The information can help you assess your progress in achieving your investment goals.

1. Change in the Value of Your Account (table): Details the changes in your account’s market value, by taking into consideration deposits, withdrawals, transfers and financial market fluctuations

2. Change in the Value of Your Account (chart): Gives you a visual of the changes in your account’s market value during the past year and since account opening, taking into consideration the net amounts invested

3. Rate of Return: Presents the total percentage return for different periods, which all end on December 31. The calculations are based on an industry-wide standard formula (explained in point 4 below) known as the “Money Weighted” rate of return.

4. Calculation Method: This method helps clarify how your investments have actually performed because it takes into account the timing of any additional deposits or withdrawals you have made.

How to understand your personal rate of return

National Bank Investment Performance Report

Fees and Compensation Report

This report summarizes the amounts received directly or indirectly for providing services and advice during the past year.

5. Administration Fees and Fees Associated with Transactions:
Details the administration fees, sales charges, switch fees and redemption fees for each account. When you do business with one of our mutual fund representatives, you do not pay any fees. This means there are no transaction fees for any security purchases, switches or redemptions done through us. Moreover, we do not charge any administration fees except for the Registered Account Termination Fee.

6. Payments from Investment Managers:
Presents the amounts paid directly to National Bank of Canada for providing services and advice for the investments held in this account. The amounts come from National Bank Mutual Funds annual management fees, which can vary, paid to National Bank Investments Inc.

7. Total Fees and Compensation:
Shows the total amount of fees and compensation received for the year covered by this report.

National Bank Investment Fees and Compensation Report


The information and opinions herein are provided for information purposes only and are subject to change. The opinions are not intended as investment advice nor are they provided to promote any particular investments and should in no way form the basis for your investment decisions. National Bank Investments Inc. has taken the necessary measures to ensure the quality and accuracy of the information contained herein at the time of publication. However, National Bank Investments Inc. does not guarantee that the information is accurate or complete, and this communication creates no legal or contractual obligation on the part of National Bank Investments Inc.

National Bank Mutual Funds (the “Funds”) are offered by National Bank Investments Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For money market funds, there can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in a fund will be returned. The Funds are not guaranteed, their values fluctuate frequently and past performance may not be repeated.

© 2016 National Bank of Canada. All rights reserved. Any reproduction, in whole or in part, is strictly prohibited without the prior written consent of National Bank of Canada.