MONTREAL, Oct. 23, 2013 /CNW Telbec/ - National Bank Securities Inc.
("NBSI"), the manager of the Meritage Portfolios, today announces the
approval of all proposals voted upon yesterday at the special meeting
of securityholders of the Meritage Portfolios.
During the meeting, securityholders of the Meritage Portfolios approved
a change to the manner in which certain operating expenses are charged
to the Meritage Portfolios. The majority of the Meritage Portfolios'
operating expenses will therefore be replaced by fixed-rate
administration fees, which will be subject to a transitional adjustment
payment until December 31, 2013.
At the same meeting, shareholders of the Meritage Canadian Equity Class
Portfolio, Meritage Global Equity Class Portfolio, Meritage Growth
Class Portfolio and Meritage Equity Class Portfolio (the "Meritage
Corporate Portfolios") approved a change to such portfolios'
fundamental investment objectives, so as to allow them to invest
directly in their corresponding Meritage Trust Portfolio. This change
is subject to the granting of exemptive relief by the Canadian
Securities Authorities, which must be obtained before the new
investment objectives can be implemented.
The shareholders of the Meritage Corporate Portfolios also approved a
change to such portfolios' redemption rights, permitting each Meritage
Corporate Portfolio to redeem shares more efficiently when closing
series that are no longer economically viable or that have become in
any way detrimental to investors or the portfolio itself.
All of the above changes shall come into effect on or around October 29,
About National Bank Securities Inc.
The Meritage Portfolios (the "Portfolios") 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 Portfolios. Please read the
prospectus of the Portfolios before investing. The Portfolio'
securities are not insured by the Canada Deposit Insurance Corporation
or by any other government deposit insurer. The Portfolios are not guaranteed, their values change frequently and past performance
may not be repeated.
About National Bank of Canada
With $187 billion in assets as at July 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 20 strongest banks
in the world by Bloomberg Markets magazine. 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
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