TORONTO, Feb. 28, 2023 /CNW/ - NEI Investments ("NEI") today announced modifications to its exclusionary screening program and more detail about the environmental, social and governance (ESG) considerations pertaining to certain funds. These initiatives reflect NEI's longstanding commitment to continuous improvement in both its responsible investment activities and its fund lineup.
Effective March 31, 2023, NEI will expand its screening program to include the following seven funds, bringing the total number of funds in NEI's lineup that are subject to exclusionary screening to 38.
NEI Conservative Yield Portfolio
NEI Balanced Yield Portfolio
NEI Growth & Income Fund
NEI Canadian Dividend Fund
NEI Canadian Equity Fund
NEI U.S. Dividend Fund
NEI Canadian Small Cap Equity Fund
For those 38 funds, NEI will seek to automatically exclude companies with direct revenues generated from the production and manufacture of tobacco and of automatic and semi-automatic weapons. NEI will also seek to exclude companies with any involvement in the production, manufacture, and sale of cluster munitions, anti-personnel landmines, biological and chemical weapons, and nuclear weapons.
Beyond the exclusions described above, other exclusions will continue to apply to certain NEI funds for companies in the tobacco, weapons, nuclear, gambling, and fossil fuel industries.
The automatic exclusionary screen for companies involved in the pornography industry will be removed. Current portfolio holdings will be unaffected, and after five years of screening for this factor, NEI has determined that removing the screen will have no impact on its funds. Investors can be confident NEI will continue to monitor its investment universe so that no investment is made in such companies.
Exclusionary screens are not applied to third-party funds or derivatives that NEI funds may invest in.
In its amended prospectus, NEI has provided additional detail about the responsible investment approaches applicable to certain funds to better reflect their ESG characteristics. These changes are effective immediately.
NEI Investments is a Canadian asset manager specializing in responsible investing, with over $10 billion under management. With over 30 years of firm experience, NEI is committed to providing Canadian investors with a broad range of responsible investment solutions. The company delivers disciplined, active asset management with a focus on environmental, social, and governance (ESG) factors. NEI Investments also manages and operates a proprietary active ownership program, and has been a signatory of the United Nations' Principles for Responsible Investment for more than 15 years. NEI Investments is a wholly owned subsidiary of Aviso Wealth.
Aviso Wealth is a leading wealth services supplier for the Canadian financial industry, helping hundreds of institutional and retail organizations gain a competitive edge through a comprehensive offering of investment dealer and insurance services supporting thousands of financial advisors across Canada. Aviso Wealth's asset manager, NEI Investments, is a Canadian leader in responsible investment funds and portfolios, and its award-winning online brokerage, Qtrade Direct Investing™, enables self-directed investors to build their wealth with confidence. Aviso Correspondent Partners provides custodial and carrying broker services to portfolio managers, investment dealers, insurance and trust companies, and introducing brokers.
With over $105 billion in assets under administration and management, Aviso Wealth is an ambitious organization backed by the collective strength of its owners: the credit union Centrals, Co-operators/CUMIS, and Desjardins. For more information visit aviso.ca.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
NEI Investments is a registered trademark of Northwest & Ethical Investments L.P. ("NEI LP"). Northwest & Ethical Investments Inc. is the general partner of NEI LP and a wholly-owned subsidiary of Aviso Wealth Inc. ("Aviso"). Aviso is the sole limited partner of NEI LP. Aviso is a wholly-owned subsidiary of Aviso Wealth LP, which in turn is owned 50% by Desjardins Financial Holding Inc. and 50% by a limited partnership owned by the five Provincial Credit Union Centrals and The CUMIS Group Limited. |
SOURCE NEI Investments
For media inquiries, please contact: David Rutherford, VP, Communications & Corporate Sustainability, [email protected]
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