CWB Wealth Management Ltd. Announces Changes to CWB Mutual Funds
EDMONTON, AB, March 9, 2026 /CNW/ - CWB Wealth Management Ltd. ("CWB WM"), the manager of the CWB Onyx Conservative Solution, CWB Onyx Balanced Solution, CWB Onyx Growth Solution, CWB Onyx Diversified Income Fund, CWB Onyx Canadian Equity Fund, CWB Onyx North American Equity Fund and CWB Onyx Global Equity Fund (collectively, the "Funds"), announced today certain planned changes in relation to the Funds. These planned changes are more fully described below and include:
- Terminating the CWB Onyx Conservative Solution, CWB Onyx Balanced Solution and CWB Onyx Growth Solution (collectively, the "Terminating Funds") and discontinuation of the offering of Series O units of the Terminating Funds;
- Changing the trustee and investment fund manager of the CWB Onyx Diversified Income Fund, CWB Onyx Canadian Equity Fund, CWB Onyx North American Equity Fund and CWB Onyx Global Equity Fund (collectively, the "Continuing Funds"); and
- Applying to the relevant securities regulators for an order that the Continuing Funds have ceased to be reporting issuers.
These changes are being implemented as part of the ongoing integration of CWB WM and its products and services with National Bank of Canada and its related companies following the acquisition of Canadian Western Bank by National Bank of Canada in 2025.
Fund Terminations and discontinuation of the offering of Series O units
Each of the Terminating Funds will be terminated effective on or about June 1, 2026 (the "Termination Date"). Effective on or about May 22, 2026, Series O units of the Terminating Funds will no longer be available for purchase in anticipation of the termination of the Terminating Funds, including purchases made through a pre-authorized purchase plan. Existing investors may continue to hold their Series O units but will not be able to purchase any additional Series O units as of that date.
Investors that do not redeem their Series O units of a Terminating Fund prior to the Termination Date will be entitled to receive their proportionate share of the remaining net assets of the respective Terminating Fund on the Termination Date in cash. As each Terminating Fund prepares to terminate, it may no longer be fully invested in accordance with its investment objective as set out in the simplified prospectus. CWB WM encourages all investors of the Terminating Funds to consult with their financial advisors to discuss the financial and tax implications of the terminations prior to the Termination Date.
Change of Trustee
Effective on or about June 15, 2026, CWB WM will resign as trustee of the Continuing Funds and Natcan Trust Company will be appointed to act as successor trustee of the Continuing Funds. Natcan Trust Company is a wholly owned subsidiary of National Bank of Canada and is an affiliate of CWB WM.
Change of Manager
Effective on or about June 15, 2026, CWB WM will resign as investment fund manager of the Continuing Funds and National Bank Trust Inc. will be appointed to act as successor investment fund manager of the Continuing Funds. National Bank Trust Inc. is a wholly owned subsidiary of National Bank of Canada and is an affiliate of CWB WM.
Application to Cease Being Reporting Issuers
CWB WM has determined that it will make an application to the relevant securities regulators for an order that each of the Continuing Funds has ceased to be a reporting issuer under the securities legislation of Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan (the "Order"). CWB WM will seek to receive the Order on or before June 15, 2026. However, there can be no assurance that the Order will be received on or before June 15, 2026 or at all. If the Order is received, the Continuing Funds will not be reporting issuers in any jurisdiction of Canada, and Series O units of the Continuing Funds will only be offered to investors in reliance on available exemptions from the prospectus requirements under applicable securities laws.
These changes will be included in the amendment to the Funds' simplified prospectus, which will be filed on the SEDAR+ website and on the CWB WM website.
About CWB Wealth Management Ltd. CWB WM is a subsidiary of National Bank of Canada, a diversified financial services group providing specialized services in business and personal banking, trust and wealth management across Canada.
About National Bank of Canada
With $606 billion in assets as at January 31, 2026, National Bank of Canada (the "Bank") is one of Canada's six systemically important banks. The Bank has more than 35,000 employees in knowledge-intensive positions and operates three business segments in Canada: Personal and Commercial Banking, Wealth Management and Capital Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media.
SOURCE CWB Wealth
For more information: For further information about CWB WM or the Funds, please visit www.cwbwealth.com, email us at [email protected], or call us at 1-855-292-9655
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