TORONTO, July 11, 2012 /CNW/ - NEI Investments ("NEI") today announced
the launch of three new mandates: the Northwest Macro Canadian Asset
Allocation Fund, Northwest Macro Canadian Equity Fund and Northwest
Macro Canadian Equity Corporate Class.
These funds will be managed by Otterwood Capital Management Inc.
("Otterwood"), led by award winning portfolio manager, Christine
Hughes. Otterwood was also appointed portfolio manager for the $330
million Ethical Balanced Fund on May 14, 2012.
"We are pleased to introduce these additional mandates which we believe
are perfectly matched to OtterWood's unique approach," said Daniel
Solomon, Chief Investment Officer at NEI. "Christine Hughes is an
active, high conviction manager who focuses on macro- economic analysis
to drive downside protection. These new mandates provide her with the
risk management tools and the flexibility to make active asset
allocation decisions in response to changing economic conditions."
The Northwest Macro Canadian Asset Allocation Fund provides OtterWood
with an exceptionally wide allocation range between equities and fixed
income as well as the ability to hold gold or use derivative strategies
to manage downside risk. The Northwest Macro Canadian Equity Fund
provides a similar set of tools and the latitude to aggressively
protect assets in volatile markets.
Hughes' macro-focused approach fared exceptionally well through both the
highest and lowest markets of the past fifteen years.
"Over the last few years there has been much debate about how to best
manage portfolios through the sovereign debt crisis and political
events that continue to interconnect global markets. We believe the way
these funds are managed is the perfect answer to that debate,"
On May 29, 2012, NEI received unit holder approval to rename and change
the objectives of the Northwest Specialty Innovations Fund and
Northwest Specialty Innovations Corporate Class to the Northwest Macro
Canadian Equity Fund and Northwest Macro Canadian Equity Corporate
Class. The funds were closed to new subscriptions on April 11, 2012
pending unit holder approval, and a transition of the portfolio
holdings was completed to reflect the new fundamental investment
objectives. Both funds were re-opened on July 3, 2012 under the new
fund names and mandates.
ABOUT NEI INVESTMENTS
NEI Investments is a national investment firm with approximately $5
billion in assets under management. It offers Canadian retail investors
unique access to top independent money managers through high quality
investment solutions in two fund families, Northwest Funds and Ethical
Funds. Its products provide investors with a full range of investment
management styles as well as conventional and socially responsible
NEI Investments is owned 50% by the Provincial Credit Union Centrals and
50% by Desjardins Group. This backing of experience and resources
allows NEI Investments to actively support business growth in these
networks as well as independent advisor channels.
NEI Investments has offices in Toronto, Vancouver and Montreal.
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