(December 14 – 15:00 ET) – National Bank Securities Inc. is launching of three new no-load mutual funds: the National Bank Global Technologies RSP Fund, the National Bank Future Economy RSP Fund and the National Bank Sector Rotation Fund. The necessary regulatory approval to begin distribution of the new funds was given today.
The first two funds are what is commonly called in the industry clone funds. The objectives of the funds are directly linked to the return generated by the National Bank Global Technologies Fund and the National Bank Future Economy Fund which were launched in July and are managed by Stephen Gauthier of Pictet Canada. In contrast to the underlying funds, the clone funds are 100 % RRSP-eligible even if their portfolio is invested abroad. In this way, unitholders can maximize the international content of their portfolio.
The third fund launched by National Bank is a sector rotation fund. The fund’s assets will mainly be invested in Canadian stocks. The fund manager, Natcan Investment Management Inc., will steer investments toward industry sectors that offer the best growth potential, based on economic conditions.
-IE Staff