(October 19 – 18:30 ET) – As part of a new partnership with Fidelity Investments Canada Ltd., National Bank Securities Inc. is launching five new National Bank/Fidelity Funds:
> National Bank/Fidelity Global Asset Allocation Fund;
> National Bank/Fidelity Growth America Fund;
> National Bank/Fidelity Focus Financial Services Fund;
> National Bank/Fidelity Canadian Asset Allocation Fund.
The new funds are now available in close to 600 National Bank branches in Quebec, Ontario and New Brunswick. Like other National Bank Mutual Funds, there are no fees for purchases, redemptions or transfers.
These new funds are structured so as to mirror the returns of the underlying Fidelity Funds. To achieve this, the net assets of each National Bank/Fidelity Fund are fully invested in units of the corresponding underlying fund. All expenses are paid by National Bank Securities, outside each fund. The management fees and expense ratio of the new funds match those of the underlying Fidelity Funds and, for unitholders, there is no duplication of management fees.
These five new funds bring the number of funds offered by the National Bank Mutual Fund family up to 48. The family now includes 11 international growth funds and eight specialized funds, counting the two new funds launched a couple of weeks ago: the National Bank Emerging Markets Fund and the National Bank European Small Capitalization Fund.
-IE Staff