TORONTO, July 23, 2014 /CNW/ - NEI Investments ("NEI") announced today that it has introduced several enhancements to its mutual fund lineup, aimed at addressing the evolving needs of advisors and their clients. All enhancements are effective immediately, except where otherwise noted.
NEI introduces Series T for the NEI Global Total Return Bond Fund
To address the needs of income seeking investors, NEI Investments has introduced a Series T version of the NEI Global Total Return Bond Fund. The fund will seek to pay a fixed monthly distribution, consisting of income and/or return of capital based on an initial target annualized payout of 4%. The target payout will be reviewed each year in order to confirm the appropriateness of the distribution policy based on prevailing market conditions as well as the outlook for the economy and capital markets.
NEI introduces Series F for the NEI Ethical Select Income Portfolio
Further building out their lineup of portfolio solutions available for fee-based accounts, NEI Investments has introduced a Series F version of the NEI Ethical Select Income Portfolio. The fund will seek to pay a fixed monthly distribution, consisting of income and/or return of capital based on an initial target annualized payout of 3%, which will be reviewed annually to ensure that it remains appropriate based on prevailing market conditions and the outlook for the economy and capital markets.
NEI reduces the management fee on the NEI Northwest U.S. Dividend Fund and NEI Northwest U.S. Dividend Corporate Class
In an ongoing effort to identify opportunities to reduce fees wherever possible, NEI has reduced management fees for NEI Northwest U.S. Dividend Fund and NEI Northwest U.S. Dividend Corporate Class by 10 basis points.
NEI introduces a new Premium Series on select NEI Funds
As part of its commitment to delivering innovative solutions that feature flexible pricing options for different types of investors, NEI Investments announced the introduction of premium pricing options on the following mandates: the NEI Ethical Global Dividend Fund, the NEI Global Total Return Bond Fund, the NEI Northwest Macro Canadian Asset Allocation Fund, the NEI Northwest Tactical Yield Fund, and the NEI Northwest U.S. Dividend Fund.
NEI reopens the NEI Northwest Tactical Yield Corporate Class
In September 2014 NEI Investments will be reopening NEI Northwest Tactical Yield Corporate Class. The fund had previously been temporarily closed since April 12, 2013 to address the implications of the Federal Government's elimination of tax benefits associated with character conversion transactions. As part of the reopening, the fund will change its investment objectives such that it will invest substantially all of its assets directly in units of the underlying NEI Northwest Tactical Yield Fund, a fund-of-funds. The investment objective changes will be effective September 23, 2014 and the fund will reopen for new purchases on or around September 29, 2014.
ABOUT NEI INVESTMENTS
NEI Investments is a national investment firm with over $6 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
For further information:
416‐640‐5525 ext. 253, [email protected]