Fund renamed NEI Northwest Emerging Markets Fund; Management fees
TORONTO, May 6, 2013 /CNW/ - NEI Investments ("NEI") announced today
that it has successfully transitioned the fund objectives on the NEI
Northwest EAFE Fund and NEI Northwest EAFE Corporate Class to an
Emerging Markets Equity mandate. The funds are now named the NEI
Northwest Emerging Markets Fund and NEI Northwest Emerging Markets
Corporate Class. The changes were approved by a majority of votes cast
at a vote held April 23, 2013.
Columbia Management Investment Advisers LLC ("Columbia Management") has
assumed management responsibilities for both of these funds.
"Columbia's active investment approach and focus on downside risk really
aligns well to our own investment philosophy," said Daniel Solomon, CIO
at NEI, "We are delighted to have Columbia join our portfolio
management team and pleased to be able to broaden our global line-up
with a strong emerging markets offering".
Founded in 1894 with current assets under management at more than $300
billion, Columbia Management is one of the longest standing and largest
investment firms in the United States. They apply a unique
multi-disciplined investment process designed to generate more
risk-managed performance within the emerging markets equity category.
NEI also announced the reduction of the management fee on the Series A
and Series F units of the Fund to 2.15% and 1.15% respectively. This
reduction is a reflection of NEI's ongoing efforts to reduce fees
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
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:
MAVERICK Public Relations
416-640-5525 ext. 244