National Bank Investments Inc. (“NBI”) announces risk rating revisions, management or administrative fee reductions and a portfolio management change for certain NBI Funds and ETFs (the “Funds”).
Risk Rating Revisions
Effective immediately, the below Funds’ risk ratings have been revised as follows:
Fund | Current risk level | New risk level |
Meritage Global Conservative Portfolio | Low | Low to medium |
NBI Global Small Cap Fund | Medium | Medium to high |
Management Fee Reductions
On or about May 14, 2025, the management fees for the following series of the NBI High Yield Bond Fund will be reduced as indicated in the table below:
Fund | Current management fee | New management fee |
NBI High Yield Bond Fund (F and F5 Series) | 0.80% | 0.70% |
NBI High Yield Bond Fund (Advisor, Investor and T5 Series) | 1.50% | 1.40% |
Administrative Fee Reductions
On or about May 14, 2025, the administrative fees for the following series of the NBI Sustainable Global Equity Fund will be reduced as indicated in the table below:
Fund | Current administrative fee | New administrative fee |
NBI Sustainable Global Equity Fund (F, N, NR, and Advisor Series) |
0.20% | 0.15% |
Portfolio Management Change
On or about May 14, 2025, NBI will replace National Bank Trust Inc. (“NBT”) as portfolio manager of all Funds listed below. The investment objectives of the Funds will remain unchanged.
This change will have no impact on the sub-advisors currently making investment decisions for the Funds.
- NBI Global Climate Ambition Fund
- NBI Sustainable Global Bond Fund
- NBI Senior Loan Fund
- NBI Target 2025 Investment Grade Bond Fund
- NBI Target 2026 Investment Grade Bond Fund
- NBI Target 2027 Investment Grade Bond Fund
- NBI Target 2028 Investment Grade Bond Fund
- NBI Target 2029 Investment Grade Bond Fund
- NBI Target 2030 Investment Grade Bond Fund
- NBI Target 2031 Investment Grade Bond Fund
- NBI International Equity Fund
- NBI Canadian Equity Fund
- NBI North American Dividend Private Portfolio
- NBI Jarislowsky Fraser Select Income Fund
- NBI Jarislowsky Fraser Select Balanced Fund
- NBI Non-Traditional Capital Appreciation Private Portfolio
- NBI Money Market Fund
- NBI Floating Rate Income Fund
- NBI Bond Fund
- NBI Income Fund
- NBI Unconstrained Fixed Income Fund
- NBI Corporate Bond Fund
- NBI High Yield Bond Fund
- NBI Preferred Equity Fund
- NBI Presumed Sound Investments Fund
- NBI Sustainable Canadian Bond Fund
- NBI Canadian Core Plus Bond Fund
- NBI Tactical Asset Allocation Fund
- NBI Global Balanced Growth Fund
- NBI SmartBeta Low Volatility Canadian Equity Fund
- NBI Canadian All Cap Equity Fund
- NBI Small Cap Fund
- NBI Quebec Growth Fund
- NBI Sustainable Canadian Equity Fund
- NBI SmartBeta Low Volatility Global Equity Fund
- NBI Global Equity Fund
- NBI Global Real Assets Income Fund
- NBI Active U.S. Equity Fund
- NBI U.S. Equity Fund
- NBI Global Small Cap Fund
- NBI Active Global Equity Fund
- NBI Global Diversified Equity Fund
- NBI Active International Equity Fund
- NBI Diversified Emerging Markets Equity Fund
- NBI Sustainable Global Equity Fund
- NBI Resource Fund
- NBI Precious Metals Fund
- NBI Innovators Fund
- NBI Canadian Bond Index Fund
- NBI Canadian Equity Index Fund
- NBI U.S. Equity Index Fund
- NBI International Equity Index Fund
- NBI Canadian Bond Private Portfolio
- NBI Canadian Fixed Income Private Portfolio
- NBI U.S. Bond Private Portfolio
- NBI Corporate Bond Private Portfolio
- NBI Non-Traditional Fixed Income Private Portfolio
- NBI Multiple Asset Class Private Portfolio
- NBI Canadian Equity Private Portfolio
- NBI Canadian High Conviction Equity Private Portfolio
- NBI U.S. High Conviction Equity Private Portfolio
- NBI International High Conviction Equity Private Portfolio
- NBI Tactical Equity Private Portfolio
- NBI Global Equity Markets Private Portfolio
- NBI Sustainable Secure Portfolio
- NBI Sustainable Conservative Portfolio
- NBI Sustainable Moderate Portfolio
- NBI Sustainable Balanced Portfolio
- NBI Sustainable Growth Portfolio
- NBI Sustainable Equity Portfolio
- NBI Secure Portfolio
- NBI Conservative Portfolio
- NBI Moderate Portfolio
- NBI Balanced Portfolio
- NBI Growth Portfolio
- NBI Equity Portfolio
- Meritage Canadian Equity Portfolio
- Meritage Global Equity Portfolio
- Meritage American Equity Portfolio
- Meritage International Equity Portfolio
- Meritage Conservative Portfolio
- Meritage Moderate Portfolio
- Meritage Balanced Portfolio
- Meritage Growth Portfolio
- Meritage Growth Plus Portfolio
- Meritage Diversified Fixed Income Portfolio
- Meritage Conservative Income Portfolio
- Meritage Moderate Income Portfolio
- Meritage Balanced Income Portfolio
- Meritage Growth Income Portfolio
- Meritage Growth Plus Income Portfolio
- Meritage Global Conservative Portfolio
- Meritage Global Moderate Portfolio
- Meritage Global Balanced Portfolio
- Meritage Global Growth Portfolio
- Meritage Global Growth Plus Portfolio
- Meritage Tactical ETF Moderate Portfolio
- Meritage Tactical ETF Balanced Portfolio
- Meritage Tactical ETF Growth Portfolio
- Meritage Tactical ETF Equity Portfolio
- NBI Sustainable Canadian Short Term Bond ETF
- NBI Sustainable Canadian Bond ETF
- NBI Sustainable Canadian Corporate Bond ETF
- NBI High Yield Bond ETF
- NBI Unconstrained Fixed Income ETF
- NBI Active Canadian Preferred Shares ETF
- NBI Canadian Dividend Income ETF
- NBI Sustainable Canadian Equity ETF
- NBI Active U.S. Equity ETF
- NBI Active International Equity ETF
- NBI Global Real Assets Income ETF
- NBI Sustainable Global Equity ETF
- NBI Global Private Equity ETF
- NBI Liquid Alternatives ETF
The above changes will be reflected in the simplified prospectus for the NBI Funds and ETFs which will be available on the SEDAR+ website and the NBI website.