TORONTO, Nov. 29, 2018 /CNW/ - Northwest & Ethical Investments L.P. ("NEI" or the "Manager") today announced a change to the distribution policy for certain funds in its mutual fund line up in order to provide investors with a consistent income distribution experience across its product lineup by applying a "monthly-fixed" policy to the NEI Select Income Portfolio, NEI Select Growth & Income Portfolio, NEI Select Growth & Income RS Portfolio and NEI Select Maximum Growth RS Portfolio (the "Portfolios"). In addition, updates were made to implement a fixed percentage of net asset value distribution policy methodology that will reset annually and is more in line with industry practice. It should be noted that a change in distribution policy has no impact on the performance of a fund Portfolio.
Investors are encouraged to discuss the potential tax consequences of this distribution policy change with their tax advisors. Tax considerations with respect to holding units of a Portfolio can be found in the Portfolio's annual information form which is available online at www.sedar.com.
NEI is a national investment firm with approximately $8 billion in assets under management. It offers Canadian retail investors access to experienced money managers through a wide range of investment solutions across its fund family. Its products provide investors with a full range of investment management styles and a focus on responsible investment solutions.
The general partner of the Manager, Northwest & Ethical Investments Inc., is a wholly-owned subsidiary of Aviso Wealth Inc. ("Aviso"). Aviso is a wholly-owned subsidiary of Aviso Wealth LP, which in turn is owned 50% by Desjardins Financial Holding Inc. and 50% by a limited partnership owned by the five Provincial Credit Union Centrals and The CUMIS Group Limited.
NEI has offices in Toronto, Vancouver and Montreal.
Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to the future outlook of the NEI Funds and anticipated events or results and may include statements regarding the future financial performance of the NEI Funds. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.
SOURCE NEI Investments
For further information: Media Contact: Kira Smylie, Media Manager, Aviso Wealth, 416.933.6263, M 416.209.2761, E [email protected]