National Bank Investments Simplifies Fund and ETF Offerings

National Bank Investments Simplifies Fund and ETF Offerings

In a strategic move to streamline its investment solutions, National Bank Investments Inc. (NBI) has announced the termination of its NBI Canadian Family Business ETF (ticker symbol: NFAM) and the NBI Canadian Preferred Equity Private Portfolio. These changes reflect NBI's commitment to refining its offerings to better serve investors.

NBI Canadian Family Business ETF Updates

The termination of the NBI Canadian Family Business ETF is set to take effect on November 29, 2024. NBI aims to notify ETF investors at least 60 days prior to this termination date, ensuring that all unit holders are well-informed of the process and timelines involved.

Final Trading and Delisting Procedures

As the termination date approaches, units of the ETF will be delisted from the Toronto Stock Exchange (TSX) on or around November 28, 2024, at NBI's request. Until the delisting, investors can continue to buy and sell units of the ETF. However, any units held after the termination date will be canceled. Additionally, no new subscriptions will be accepted from authorized participants post-termination announcement.

Fund Termination Anticipated

Similarly, the NBI Canadian Preferred Equity Private Portfolio will also be terminated on or around the same date. Investors in this Fund will receive a notice ensuring they are prepared for the changes ahead.

Investor Flexibility Prior to Termination

Before the termination date, investors will have the option to switch or redeem their units of the Fund anytime during business hours. This flexibility allows investors to manage their holdings effectively until the close of business on the Fund's termination date.

Future Communications and Updates

NBI plans to release additional information closer to the termination dates. A press release is expected to outline the final steps and provide clarity to all investors involved. These updates will be crucial for ensuring a smooth transition as NBI moves forward with its investment restructuring.

Details on Prospectus Amendments

The amendments reflecting these changes will be incorporated into the simplified prospectus for NBI Funds as well as the ETF documentation, further aligning with NBI's objectives in simplifying its investment program offerings.

About National Bank Investments

National Bank Investments Inc., a wholly owned subsidiary of the National Bank of Canada, is committed to providing diverse investment solutions aimed at assisting Canadian investors in achieving their financial goals. With over $88.38 billion in assets under management as of June 30, 2024, NBI's range of products includes both mutual funds and ETFs designed to meet varied investor needs.

Customer-Centric Approach

NBI prides itself on its open architecture strategy, which enhances its capability to deliver comprehensive solutions tailored to client requirements. The firm's dedication positions it as a reliable partner for investors navigating their financial journeys.

Frequently Asked Questions

What ETFs are being terminated by NBI?

The NBI Canadian Family Business ETF (NFAM) is being terminated, effective November 29, 2024.

How will I be notified of the termination?

NBI will send a notice of termination to all investors at least 60 days prior to the termination date.

Can I still trade my units before termination?

Yes, you can buy or sell units on the TSX until the delisting, which occurs on November 28, 2024.

What happens to the ETFs after the termination date?

Units held after the termination date will be canceled, and investors will not be able to exchange or redeem their units.

How does NBI ensure investor support during this process?

NBI is committed to clear communication and will provide regular updates leading to the termination dates to ensure investors are informed.

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