CWB Wealth Management Ltd. Announces Change to Portfolio Manager of CWB Mutual Funds and Discontinuation of Offering and Termination of Series A Units

EDMONTON, AB, Oct. 8, 2025 /CNW/ - CWB Wealth Management Ltd. ("CWB WM"), the manager of the CWB Onyx Conservative Solution, the CWB Onyx Balanced Solution, the CWB Onyx Growth Solution, the CWB Onyx Diversified Income Fund, the CWB Onyx Canadian Equity Fund, the CWB Onyx North American Equity Fund, and the CWB Onyx Global Equity Fund (collectively, the "Funds"), announced today a change to the portfolio manager of the Funds from CWB WM to its affiliate, National Bank Financial Inc. ("NBF"), and the discontinuation of the offering and the termination of the Series A units of the Funds. 

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 earlier this year.

Portfolio manager change

CWB WM currently acts as investment fund manager and portfolio manager of the Funds.  Effective on or about October 10, 2025, CWB WM will appoint NBF to act as portfolio manager of the Funds.  CWB WM will continue to act as investment fund manager of the Funds.  There will be no changes to the investment objectives or investment strategies of the Funds as a result of this change. 

Discontinuation of the offering of Series A units

Effective on or about November 22, 2025 (the "Discontinuation Date"), Series A units of the Funds will no longer be available for purchase for new or existing unitholders, including purchases made through a pre-authorized purchase plan. Existing investors may continue to hold their Series A units, but will not be able to purchase any additional Series A units on or after the Discontinuation Date.

Termination of Series A units

After close of business on or about March 31, 2026, Series A Units of the Funds will be terminated.  At that time, units of the Series A will be redeemed at their net asset value and proceeds distributed to unitholders. 

These changes will be included in the amendment to the Funds' simplified prospectus, which will be filed on the SEDAR+ website and posted on the CWB WM website.

About National Bank Financial Inc.
With more than $170 billion in assets under management as of October 31, 2024, NBF is Canada's 5th largest securities brokerage firm, with over 2000 employees, including more than 900 Wealth Advisors and is a solid financial partner for close to 300,000 Canadian families. Clients and their families can rely on NBF's experienced wealth management professionals for sound, personalized advice that meets their changing needs and helps them achieve their lifetime goals. For more information, visit nbfwm.ca. 

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 $553 billion in assets as at July 31, 2025, National Bank of Canada is one of Canada's six systemically important banks. The Bank has approximately 34,000 employees in knowledge-intensive positions and operates through three business segments in Canada: Personal and Commercial Banking, Wealth Management and Financial 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. NBF is a wholly owned subsidiary of National Bank of Canada.

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.