MONTREAL, March 15, 2017 /CNW Telbec/ - National Bank Investments Inc. ("NBI") announced today the reduction of its administration fees, trailing commissions and management fees on certain Meritage Portfolios.
"This year, Meritage Portfolios celebrate 10 years of strong performance. Changes announced today are aligned with our long standing philosophy of continuously improving our investment solutions for Canadian investors", said Jonathan Durocher, President and Chief Executive Officer of National Bank Investments.
These changes will be effective as of April 1, 2017 and are in keeping with NBI's client-centric approach, committed to providing investors with access to innovative investment solutions at competitive pricing.
Administration fee reductions
The administration fees for the following Meritage Portfolios will be reduced as indicated in the table below.
| Portfolios and Series |
Current administration fee |
New administration fee |
| Meritage Canadian Equity Portfolio (Advisor, F, F5 and T5 Series) |
0.24% |
0.18% |
| Meritage American Equity Portfolio (Advisor, F, F5 and T5 Series) |
0.24% |
0.18% |
| Meritage International Equity Portfolio (Advisor, F, F5 and T5 Series) |
0.24% |
0.18% |
| Meritage Conservative Portfolio (Advisor, F, F5 and T5 Series) |
0.18% |
0.11% |
| Meritage Moderate Portfolio (Advisor, F, F5 and T5 Series) |
0.18% |
0.12% |
| Meritage Balanced Portfolio (Advisor, F, F5 and T5 Series) |
0.13% |
0.12% |
| Meritage Aggressive Growth Portfolio (Advisor, F, F5 and T5 Series) |
0.19% |
0.18% |
| Meritage Moderate Income Portfolio (Advisor and F Series) |
0.18% |
0.12% |
| Meritage Growth Income Portfolio (Advisor and F Series) |
0.18% |
0.16% |
| Meritage Aggressive Growth Income Portfolio (Advisor and F Series) |
0.20% |
0.18% |
Management fee and trailing commission reductions
In addition, the management fees for the Advisor and T Series (or T5 Series, if applicable) of the following Meritage Portfolios will be reduced as indicated in the table below. This change is the result of the decrease in trailing commissions that will be implemented at the same time. Trailing commissions are decreased to better align the dealer compensation paid for these Meritage Portfolios with the compensation generally paid in the market to dealers of equity funds. This reduction applies to the trailing fees for the initial sales charge option and deferred sales charge option (+ 6 years).
| Portfolio |
Current management fee |
New management fee |
Current dealer compensation* |
New dealer compensation* |
| Meritage Canadian Equity Portfolio |
Advisor Series: 2.25% T5 Series: 2.25% |
Advisor Series: 2.00% T5 Series: 2.00% |
Advisor Series: 1.25% T5 Series: 1.25% |
Advisor Series: 1.00% T5 Series: 1.00% |
| Meritage Canadian Equity Class Portfolio |
Advisor Series: 2.25% T Series: 2.25% |
Advisor Series: 2.00% T Series: 2.00% |
Advisor Series: 1.25% T Series: 1.25% |
Advisor Series: 1.00% T Series: 1.00% |
| Meritage Global Equity Portfolio |
Advisor Series: 2.25% T5 Series: 2.25% |
Advisor Series: 2.00% T5 Series: 2.00% |
Advisor Series: 1.25% T5 Series: 1.25% |
Advisor Series: 1.00% T5 Series: 1.00% |
| Meritage Global Equity Class Portfolio |
Advisor Series: 2.25% T Series: 2.25% |
Advisor Series: 2.00% T Series: 2.00% |
Advisor Series: 1.25% T Series: 1.25% |
Advisor Series: 1.00% T Series: 1.00% |
| Meritage American Equity Portfolio |
Advisor Series: 2.25% T5 Series: 2.25% |
Advisor Series: 2.00% T5 Series: 2.00% |
Advisor Series: 1.25% T5 Series: 1.25% |
Advisor Series: 1.00% T5 Series: 1.00% |
| Meritage International Equity Portfolio |
Advisor Series: 2.25% T5 Series: 2.25% |
Advisor Series: 2.00% T5 Series: 2.00% |
Advisor Series: 1.25% T5 Series: 1.25% |
Advisor Series: 1.00% T5 Series: 1.00% |
| Meritage Aggressive Growth Portfolio |
Advisor Series: 2.25% T5 Series: 2.25% |
Advisor Series: 2.00% T5 Series: 2.00% |
Advisor Series: 1.25% T5 Series: 1.25% |
Advisor Series: 1.00% T5 Series: 1.00% |
| Meritage Aggressive Growth Class Portfolio |
Advisor Series: 2.25% T Series: 2.25% |
Advisor Series: 2.00% T Series: 2.00% |
Advisor Series: 1.25% T Series: 1.25% |
Advisor Series: 1.00% T Series: 1.00% |
| Meritage Aggressive Growth Income Portfolio |
Advisor Series: 2.25%
|
Advisor Series: 2.00%
|
Advisor Series: 1.25%
|
Advisor Series: 1.00%
|
| Meritage Global Aggressive Growth Portfolio |
Advisor Series: 2.25% T5 Series: 2.25% |
Advisor Series: 2.00% T5 Series: 2.00% |
Advisor Series: 1.25% T5 Series: 1.25% |
Advisor Series: 1.00% T5 Series: 1.00% |
| Meritage Global Aggressive Growth Class Portfolio |
Advisor Series: 2.25% T5 Series: 2.25% |
Advisor Series: 2.00% T5 Series: 2.00% |
Advisor Series: 1.25% T5 Series: 1.25% |
Advisor Series: 1.00% T5 Series: 1.00% |
| * Initial sales charge and deferred sales charge (+ 6 years) |
The management fees for F Series (and F5 Series, if applicable) of some Meritage Portfolios will also be reduced. Specifically, the management fee of these series will be reduced from 1.00% to 0.90% on the Meritage Conservative Portfolio, the Meritage Moderate Portfolio, the Meritage Conservative Income Portfolio and the Meritage Moderate Income Portfolio; from 1.00% to 0.95% on the Meritage Global Conservative Portfolio and the Meritage Global Moderate Portfolio; and from 1.00% to 0.85% on the Meritage Canadian Equity Portfolio and the Meritage Canadian Equity Class Portfolio.
Name changes
Finally, the English versions of the names of some Meritage Portfolios will be changed to align them more closely with the French versions. The changes are indicated below.
| Current name |
New name |
| Meritage Aggressive Growth Portfolio |
Meritage Dynamic Growth Portfolio |
| Meritage Aggressive Growth Class Portfolio |
Meritage Dynamic Growth Class Portfolio |
| Meritage Aggressive Growth Income Portfolio |
Meritage Dynamic Growth Income Portfolio |
| Meritage Global Aggressive Growth Portfolio |
Meritage Global Dynamic Growth Portfolio |
| Meritage Global Aggressive Growth Class Portfolio |
Meritage Global Dynamic Growth Class Portfolio |
The changes will be reflected in an amendment to the Meritage Portfolios simplified prospectus to be filed in connection with these changes at www.sedar.com and www.nbcadvisor.com.
About National Bank Investments Inc.
National Bank Investments Inc. ("NBI"), a wholly owned subsidiary of National Bank of Canada, is an investment fund management firm committed to manufacturing and distributing mutual funds, investment solutions and services designed to help Canadian investors pursue their financial goals. As at December 31, 2016, the value of assets under management in NBI products amounted to C$32.2 billion.
Guided by a 100% open architecture structure, NBI is dedicated to providing diverse solutions to meet the evolving needs of its clients. NBI consistently strives to be recognized as a key partner by combining innovation and excellence. NBI's role is not limited to administrative aspects of management; NBI Advisory Services and its registered representatives form a team of specialists who provide information and advice to help advisors build portfolios adapted to their clients' financial needs.
About National Bank of Canada
With $234 billion in assets as at January 31, 2017, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has close to 21,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
Marie-Pierre Jodoin, Senior Manager, Public Affairs, National Bank of Canada, Tel.: 514-394-4209
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