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Annual reports for your investments

Simpler than they look

Helping you to understand

Your annual December 31 portfolio statement also includes two reports that provide a detailed look at your investments. Are you having trouble figuring them out? Here are a few tips to help you understand.

Performance Report

As its name suggests, this report shows how your investments have performed over two periods: during the past calendar year and since you opened your account. Use this information to assess your progress towards your investment goals.

Performance report
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Change in the Value of Your Account (table):

Details the changes in your account’s market value, by taking into consideration your deposits, withdrawals and transfers as well as financial market fluctuations.

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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.

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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.

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Calculation Method:

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

How is my return calculated?

Your personal portfolio return is calculated using an industry-wide standard formula known as the “money weighted” rate of return (MWRR).

It measures the performance of your investments taking into account everything that impacts asset value: interest, dividends, realized capital gains, deposits, withdrawals and transfers. Compare this rate of return with the rate of return you are targeting to reach your financial objective.

Fees and Compensation Report

This report lists the charges for services and advice provided during the past year.

Fees and compensation report
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Administration Fees and Fees Associated with Transactions

These include the administration fees, sales charges, switch fees and redemption fees for each account.

Note that there are no transaction fees for any security purchases, switches or redemptions done through our representatives. Moreover, we do not charge any administration fees except for the Registered Account Termination Fee.

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Payments from Investment Managers

NBI Funds, like other investment funds, have management fees which may vary based on the fund and series. A portion of these fees is paid directly to National Bank of Canada, much like a trailing commission.

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Total Fees and Compensation

This is the total amount of fees and compensation (points 5 and 6) received for the year covered by the report.

Little details that matter

More information on return calculations

For a detailed look at the methods used to calculate your portfolio return, see TWRR and MWRR at a glance.

Legal disclaimer

The information and opinions expressed in this document are provided for information purposes only and are subject to change. The opinions expressed are not intended as investment advice, nor are they provided to promote any particular investments. They should in no way be used as the basis for your investment decision. National Bank Investments Inc. has taken the necessary measures to ensure the quality and accuracy of the information contained herein as at the date of publication. It does not, however, guarantee that the information is accurate or complete, and this communication creates no legal or contractual obligation for 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 a Fund. 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 change frequently and past performance may not be repeated.

Understanding investments

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