NEI Investments Monday announced certain changes to NEI Ethical International Equity Fund.

NEI announced the signing of a new investment management agreement with Addenda Capital Inc. Founded in 1996 and based in Montreal, Addenda manages in excess of $24 billion in assets for institutional and private wealth clients.

When Addenda assume sub advisory responsibilities for NEI Ethical International Equity Fund on September 29, the overall objectives of the fund will not change. However, the portfolio strategies will reflect Addenda’s international equity approach that uses sustained earnings growth to create more consistent value over time.

Addenda’s investment philosophy is to invest in growth sectors through growth leaders with key long-term competitive advantages. Their concentrated approach allows them to do more in-depth analysis and assess companies from an owner’s perspective.

In addition, NEI has been appointed the portfolio manager of the fund, effective September 29.

Related to these changes a, the Series A and Series F management fees and the fixed administration fee of the fund are all being reduced, effective September 29.

NEI Investments is owned 50% by the Provincial Credit Union Centrals and 50% by Desjardins Group. It has offices in Toronto, Vancouver and Montreal.