MONTREAL, May 21, 2013 /CNW Telbec/ - National Bank Securities Inc. ("NBSI"), the manager of the National Bank Securities Mutual Funds, announces the approval of all proposals voted upon at the special meeting of shareholders of the National Bank Strategic Yield Class (the "Fund") held today.
During the meeting, shareholders approved a change of the Fund's fundamental investment objectives, thus permitting the Fund to move from an options-based investment strategy to one better adapted to the current market environment (namely, investment in debt securities). The Fund's investment strategies will consequently also be changed, and the Fund will be renamed the "National Bank Short Term Yield Class", to better reflect its new fundamental investment objectives.
At the same meeting, shareholders also voted to change the Fund's redemption rights, which will allow the Fund to redeem shares in a more efficient manner when closing series that are no longer economically viable or that have become detrimental to shareholders or the Fund in some manner.
All of the above changes will take effect on or about May 28, 2013.
NBSI also announces that the risk rating associated with the Altamira Preferred Equity Fund (the "Altamira Fund") has been reduced from "medium" to "low to medium". This change was made in order to more accurately reflect the Altamira Fund's actual level of risk. No material changes have been made to its investment objectives, strategies or management. The change will be incorporated into the Simplified Prospectus of the National Bank Securities Mutual Funds, which will be filed on or about May 28, 2013.
About National Bank Securities Inc.
National Bank Securities Mutual Funds (the "Funds") are offered by National Bank Securities Inc., a wholly-owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The Funds' securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.
About National Bank of Canada
With $184 billion in assets as at January 31, 2013, National Bank of Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada's leading integrated financial groups, and was named among the 20 strongest banks in the world by Bloomberg Markets. The Bank has close to 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.
SOURCE: National Bank of Canada
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