MONTREAL, March 6, 2013 /CNW Telbec/ - National Bank Securities Inc. ("NBSI") today announces the convening of a special securityholder meeting for
the National Bank Strategic Yield Class (the "Strategic Yield Class"). At the special meeting that is scheduled for May 21, 2013,
securityholders of the Strategic Yield Class will be asked to vote on
the following proposed changes:
A change in the fundamental investment objectives of the Strategic Yield
Class, which would allow the fund to move from an options-based
investment strategy, to one better adapted to the current market
environment - namely, investment in short-term debt securities; and
A change to the fund's redemption rights, which would allow the fund to
redeem shares in a more efficient manner when closing series that are
no longer economically viable, or have become detrimental to investors
or the fund in some manner.
If the change in investment objectives is approved by the fund's
securityholders, the Strategic Yield Class's investment strategies will
be changed accordingly, and the fund will be renamed the "National Bank
Short Term Yield Class". Subject to securityholder approval, the
proposed changes will take effect on or about May 28, 2013.
NBSI also announces that it shall be closing two funds - the Omega
Global Opportunities Fund and the National Bank Canadian Opportunities
Fund (collectively, the "Opportunities Funds") - in order to streamline its fund line-up, and provide investors with
a more cost-effective and competitive array of investment solutions.
Immediately following the close of business today, March 6, 2013, the
Opportunities Funds will be closed to any new purchases, including
those pursuant to pre-established systematic investment and
distribution reinvestment plans. The termination of the Opportunities
Funds shall take effect on or about May 28, 2013.
All information pertaining to the changes proposed as part of the
special meeting will be provided to current investors, and potential
investors can obtain this information from National Bank Securities
Inc. prior to the special meeting. The time and place of the special
meeting will appear in the notice of meeting and management circular
which shall be mailed to securityholders. In addition, this information
will be posted on www.sedar.com and will be available from your advisor or from National Bank
About National Bank Securities Inc.
National Bank Securities Mutual Funds (the "Funds") are offered by
National Bank Securities Inc., a wholly-owned subsidiary of National
Bank of Canada. Commissions, trailing commissions, management fees and
expenses all may be associated with investments in the Funds. Please
read the prospectus of the Funds before investing. The Funds'
securities are not insured by the Canada Deposit Insurance Corporation
or by any other government deposit insurer. The Funds are not
guaranteed, their values change frequently and past performance may not
About National Bank of Canada
With $184 billion in assets as at January 31, 2013, National Bank of
Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and was named among the five strongest
banks in the world by Bloomberg Markets. The Bank has close to 20,000
employees and is widely recognized as a top employer. Its securities
are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's
activities via social media and learn more about its extensive
community involvement at clearfacts.ca and commitment.nationalbank.ca.
SOURCE: National Bank of Canada
For further information:
(The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Senior Advisor - Public Affairs