National Bank Investments Inc. changes portfolio managers.
Montreal: National Bank Investments Inc. changed portfolio managers and also announced various related changes to the NBI Real Assets Private Portfolio.
BNY Mellon Asset Management Canada Ltd. as of or around March 4, 2016 will replace National Bank Trust Inc. as portfolio manager to the NBI Real Assets Private Portfolio. As of the same date, BNY Mellon will retain its affiliate, The Boston Company Asset Management, LLC, as sub-advisor to this fund (replacing Brookfield Investment Management Inc. and Lazard Asset Management Inc.). The investment strategies of the NBI Real Assets Private Portfolio will be modified in order to reflect the investment approach of The Boston Company Asset Management, LLC, which focuses on a combination of income and growth investing. The fund will continue to invest in similar asset classes, in industry sectors associated with real assets such as infrastructure and real estate. The investment objective of the fund remains unchanged.
NBI also announced a proposal to change the National Bank Mortgage Fund's investment objective, which unitholders of such fund shall be called to vote on at a special meeting to be held for this purpose. The proposal to change the National Bank Mortgage Fund's investment objective aims to allow the fund to tactically invest, directly or through investments in securities of other mutual funds, in a portfolio comprised primarily of Canadian bonds and Canadian mortgages (directly or through investments in mortgage-backed securities).
The proposed change to the investment objective would offer more flexibility to the portfolio manager of the fund with regard to asset diversification within the same short term fixed income category, in order to seek to better benefit from fixed income investment opportunities beyond mortgages.
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|Publication:||Daily the Pak Banker (Lahore, Pakistan)|
|Date:||Feb 9, 2016|
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