National Bank Investments Streamlines Fund and ETF Offerings
National Bank Investments Inc. (NBI) is making a strategic decision to simplify its investment options by discontinuing the NBI Canadian Family Business ETF (ticker symbol: NFAM) along with the NBI Canadian Preferred Equity Private Portfolio. These changes demonstrate NBI's dedication to refining its investment offerings for better investor service.
Updates on the NBI Canadian Family Business ETF
The NBI Canadian Family Business ETF is scheduled to be terminated on November 29, 2024. NBI intends to notify ETF investors a minimum of 60 days ahead of this date, making sure all unit holders are aware of the process and the important timelines they need to follow.
Final Trading and Delisting Information
As the termination date nears, units of the ETF will be delisted from the Toronto Stock Exchange (TSX) on or about November 28, 2024, at the request of NBI. Leading up to the delisting, investors can freely buy and sell units of the ETF. However, any units still held after the termination date will be canceled. Moreover, no new subscriptions will be accepted from authorized participants following the announcement of the termination.
Termination of Fund Expected
In a similar vein, the NBI Canadian Preferred Equity Private Portfolio is also set to be terminated around the same date. Investors in this Fund will receive a notice to help them prepare for the upcoming changes.
Investor Flexibility Before Termination
Prior to the termination date, investors will have the option to switch or redeem their Fund units anytime during business hours. This flexibility gives investors a chance to manage their holdings effectively until the end of the business day on the Fund's termination date.
Communication and Updates on Upcoming Changes
NBI plans to provide further details as the termination dates draw closer. An official press release is expected to outline the final steps and offer clarity to all investors involved. Keeping investors informed will be vital for ensuring a smooth transition as NBI restructures its investment offerings.
Details about Prospectus Changes
The amendments reflecting these changes will be updated in the simplified prospectus for NBI Funds, as well as in the ETF documentation. This aligns with NBI's goal of simplifying their investment program offerings.
About National Bank Investments
National Bank Investments Inc., fully owned by the National Bank of Canada, is dedicated to offering a range of investment solutions to help Canadian investors meet their financial objectives. As of June 30, 2024, NBI has over $88.38 billion in assets under management, providing a variety of products including mutual funds and ETFs tailored to diverse investor needs.
Our Customer-Centric Focus
NBI is proud of its open architecture strategy, which enhances the firm's ability to deliver comprehensive solutions tailored to the unique needs of its clients. This commitment positions NBI as a reliable partner for investors as they navigate their financial paths.
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.
