TORONTO, Sept. 23, 2013 /CNW/ - NEI Investments ("NEI") today announced the successful launch of the new NEI Global Total Return Bond Fund and a new portfolio management agreement with Amundi Asset Management ("Amundi").
Paris-based Amundi is the ninth largest asset manager in the world with over $980 billion in assets - including $22 billion in global fixed income which is managed from their London office. The combination of Amundi's vast global resources and impressive track record allowed NEI to develop one of the most flexible and wide-ranging income mandates available in the market today.
"We are exceptionally pleased to announce our partnership with Amundi and to introduce this fund - part of our ongoing effort to develop alternative income solutions at a time when more traditional vehicles have been challenged," said NEI Chief Investment Officer Daniel Solomon. "Everyone talks about how poor the outlook is for domestic fixed income, but Canadian investors shouldn't have to feel like it has painted them into a corner. There is no shortage of income-generating opportunities across the globe, and Amundi is exceptionally adept at uncovering and leveraging them," continued Solomon.
The NEI Global Total Return Bond Fund operates in an investment universe of approximately 15,000 issues and 2,800 issuers across the world. Amundi uses an active and flexible approach to seek out the best investment opportunities across global government bond, corporate credit and currency markets. The Fund begins operation with a sufficient level of assets that will allow Amundi to capture opportunities and exercise their full suite of tools.
"We are looking forward to a long and successful portfolio management partnership with NEI," said Gilbert Lavoie, President, Amundi Canada Inc. "Our global bond mandate is making its debut in the Canadian market and we are quite happy to provide it through NEI Investments."
The NEI Global Total Return Bond Fund is fully screened and as such has been integrated into both the NEI Select and NEI Ethical Select Portfolios. "Amundi is known throughout Europe as a leader in the SRI space - another great fit for NEI," said Ethical Funds Vice President Bob Walker. "Working with them on the ESG front should prove to be a seamless process. We are eager to extend our engagement on bond issuers to this exciting new Fund."
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 investment choices.
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.
SOURCE: NEI Investments
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