Important information

About NBI Funds and managed solutions

Be a savvy investor

Check out the latest information and notices, consult regulatory documents and learn how to file an investment complaint.

Documents

To fully understand your rights as an investor and make informed decisions about your investments, read the NBI Funds' simplified prospectus. The Prospectus contains important information about mutual funds, as well as information specific to NBI Funds.

The simplified prospectus has two parts:

  1. General information on NBI Funds, fees and expenses, tax implications and other related financial information for all funds included in the prospectus.
  2. A fact sheet for each fund, which includes details of what the fund invests in and the associated risks.
Last updated PDF Documents
May 14, 2025
 Simplified prospectus

In accordance with Canadian securities regulations, National Bank Investments Inc. (NBI) has set up an Independent Review Committee (IRC). The NBI Fund managers submit any conflicts of interest to the IRC for review. The IRC also reviews and provides input on managers' written policies and procedures on such conflicts of interest. According to its charter, the IRC is formed of at least three members independent from the NBI Fund managers and their related entities. At least once a year, the IRC prepares a report on its activities for unitholders.

Read the February 19, 2025 report for unitholders by the Independent Review Committee.

Refer to the following documents for the terms and conditions on NBI investments held in registered plans and Tax-Free Savings Accounts:

Addendum

The documents below relate to the following products : Locked-in retirement savings plan (LRSP), Life income fund (LIF), Locked-in retirement account (LIRA), Locked-in retirement income fund (LRIF) and Restricted life income fund (RLIF).

Federal

 LRSP | LIF | RLIF

British Columbia

 LIRA | LIF

Alberta

 LIRA | LIF

Saskatchewan

 LIRA | PRIF

Manitoba

 LIRA | LIF

Ontario

 LIRA | LIF

Quebec

 LIRA | LIF

New Brunswick

 LIRA | LIF

Nova scotia

LIRA | LIF

Newfoundland and Labrador

 LIRA | LIF | LRIF

Securities regulations in Canada require all dealers and advisors to comply with certain rules in relation to conflicts of interest, particularly with respect to the disclosure of information in that regard. The Statement of policies respecting conflicts of interest, in PDF format, describes situations where a conflict of interest might exist and details how NBI responds to such conflicts.

Information and notices

Effective October 26, 2025, the external transfer fee (currently referred to as the account closure fee for investment accounts) for all registered accounts at National Bank Savings and Investments will be increased to $150 + taxes per transfer. 

On March 1, 2010, the Canadian Securities Administrators issued an exemptive relief allowing NBI Funds, subject to certain terms and conditions, to purchase equity securities of a reporting issuer during the period of distribution of the securities pursuant to a private placement and for the 60-day period following completion of the distribution, notwithstanding that a related underwriter acted as underwriter in connection with the distribution of securities in the same class. A full copy of the decision is available at www.sedar.com.

The governments of certain provinces, such as Quebec and New Brunswick, have adopted regulations requiring holders of unclaimed property to make reasonable efforts to find and contact the rightful owners, if their last known address is in one of these provinces. If all efforts taken by the holders are unsuccessful, they must make the information concerning unclaimed property accessible to the public in order to facilitate the return of the property to its owner.

If these regulations apply to you, i.e., if you are an owner of unclaimed property, you can refer to the online database of unclaimed property for the province in question:

Holding Canadian investment funds has specific tax implications for U.S. persons residing in Canada. Consult your tax specialist for advice and information to determine if a Canadian investment fund is right for you.

NBI is committed to the highest standards of ethics and transparency, and makes every effort to provide the top-quality service you deserve. Read the document A commitment you can trust for more information about your relationship with NBI.

Borrowing to invest is much riskier than investing from cash on hand. Here are some risks and factors that you should consider before borrowing to invest.
 

Is this strategy right for you?

  • Borrowing money to invest is risky. You should only consider borrowing to invest if:
    • you are comfortable with taking risk;
    • you are comfortable taking on debt to buy investments that may go up or down in value;
    • you are investing for the long term;
    • you have a stable income.
  • You should not borrow to invest if:
    • you have a low tolerance for risk;
    • you are investing for a short period of time;
    • you intend to rely on income from the investments to pay your living expenses;
    • you intend to rely on income from the investments to repay the loan. If this income stops or decreases, you may not be able to pay back the loan.

 

You can end up losing money

  • If the investments go down in value and you have borrowed money, your losses would be larger than had you invested using your own money.
  • Regardless of whether your investments show a gain or a loss, you will still have to pay back the loan with interest. You may have to sell other assets or use money you had set aside for other purposes to pay back the loan.
  • If you used your home as security for the loan, you may lose your home.
  • Even if the investments go up in value, you may still not make enough money to cover the costs of borrowing.

 

Tax consequences

  • You should not borrow to invest just to receive a tax deduction.
  • Interest costs are not always tax deductible. You may not be entitled to a tax deduction and past deductions may be restated. You should consult a tax professional to determine whether your interest costs will be deductible before borrowing to invest. An advisor should discuss with you the risks of borrowing to invest.

Filing a complaint

If you experience dissatisfaction with the products or services of National Bank Savings and Investments (NBSI), you can contact us to file a complaint and request a resolution of the situation. National Bank Savings and Investments ensures that all complaints are handled impartially and fairly.

If you reside in the province of Quebec, please refer to the complaint handling process here.  

If you reside outside of Quebec, please refer to the complaint handling process below.

Please contact our head office Customer Service by calling 514-871-2082 or 1-888-270-3941 or contact the complaints handling officer of a branch of the National Bank. Whenever possible, we invite you to submit your complaint in writing. If necessary, do not hesitate to inform us and we can help you. 

To learn more about complaint settlement at National Bank Savings and Investments, consult the following document: Information on Handling Client Complaints.

We will notify you in writing of the results of our analysis and our decision, no later than 90 days after receipt of your complaint. If you are dissatisfied with the processing of your complaint or our decision or if we have not been able to respond to your complaint within the required time, you can contact: 

Client Complaint Appeal Office (CCAO)

Phone: 1-888-300-9004
www.nbc.ca
Email: complaintappeal@nbc.ca

To file a complaint, consult the Submit a complaint page.

You can also contact the following external complaint organizations:

Canadian Investment Regulatory Organization (CIRO)
 40 Temperance Street, Suite 2600
Toronto, Ontario, M5H 0B4 
Phone: 416 364-6133 ou 1 877 442-4322
Fax: 1 888 497-6172
 www.ciro.ca

You can contact the Ombudsman for Banking Services and Investments (OBSI) if:

  • National Bank Savings and Investments or the CCAO did not respond to your complaint in writing within 90 days of receiving it;
  • You are dissatisfied with the response; you have 180 calendar days to submit your complaint to OBSI upon receipt of the response.

Also, please note that the time limit for taking legal courts continues to run while the CCAO, the CIRO or the OBSI analyzes your complaint, which could affect your rights to initiate a civil lawsuit.

 

OBSI
20 Queen Street West, Suite 2400, P.O. Box 8 
Toronto, ON, M5H 3R3
Phone: 416 287-2877 or 1 888 451-4519 
Fax: 416 225-4722 or 1 888 422-2865 
E-mail : ombudsman@obsi.ca

www.obsi.ca

 

 

Little details that matter

The information and data provided in this document, including that provided by third parties, are considered accurate at the time of publication and were obtained from sources considered reliable. We reserve the right to edit them without notice. This information and data are provided for information purposes only. No representations or warranties, implicit or explicit, are made as to the accuracy, quality or completeness of this information and data. The opinions expressed are not to be construed as a solicitation or offer to buy or sell units mentioned herein and should not be considered a recommendation.

NBI Funds (the "Funds"), National Bank Strategic Portfolios and National Bank Managed Portfolios (the "Portfolios") and NBI Private Wealth Management ("NBI PWM") are offered and/or managed by National Bank Investments Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and other expenses all may be associated with investing in a Fund and using an asset allocation service (such as the Portfolios or NBI PWM). Please read the Prospectus of the Funds or of the funds that make up the Portfolios and the NBI PWM profiles before investing. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.

For NBI PWM, investors must enter into an agreement with National Bank Investments Inc., which retains the services of National Bank Trust Inc. (for all activity in Quebec, Prince Edward Island, Saskatchewan and New Brunswick) or Natcan Trust Company (for all activity in other Canadian provinces and territories), subsidiaries of National Bank of Canada acting as portfolio managers, giving them the authority to select, add or remove NBI Private Portfolios in NBI Private Wealth Management profiles. National Bank Strategic Portfolios and National Bank Managed Portfolios are closed to new purchases. However, National Bank Investments Inc. may maintain certain investors' right to participate, in particular for an existing systematic reinvestment program.

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