TORONTO, June 2, 2015 /CNW/ - NEI Investments announced changes to the fundamental investment objectives of two of its mutual funds, effective June 8, 2015. The changes were approved by a majority of votes cast at a unitholder meeting held June 1, 2015.
Unitholders of the NEI Select Canadian Balanced Portfolio and the NEI Select Canadian Growth Portfolio approved the Funds to invest up to 100% of their property in foreign securities. As part of these changes, effective June 8, 2015 the Funds will be renamed the NEI Select Balanced Portfolio and NEI Select Growth Portfolio, to more accurately reflect the revised portfolio objectives and asset mixes. The risk ratings of the Funds were unaffected by these changes.
"These changes to the NEI Select Portfolios have been carefully calculated and measured by our investment team," said Daniel Solomon, Chief Investment Officer, NEI Investments. "They represent structural strategic thinking within the given risk framework of each portfolio— reducing potential overlap while enhancing overall diversification."
ABOUT NEI INVESTMENTS
NEI Investments is a national investment firm with approximately $6 billion in assets under management. It offers Canadian retail investors unique access to top independent money managers through high quality investment solutions in three fund families, NEI, 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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