(June 1 – 11:40 ET) – National Bank Securities and Fidelity Investments have partnered to create and distribute a new line of mutual funds under the National Bank/Fidelity banner. The new funds will complement existing National Bank funds. Under the agreement, Fidelity will supply its expertise for the training of National Bank reps.
The new funds are subject to the approval by securities authorities. National Bank expects to be able to market the funds starting this fall.
According to Yves G. Breton, National Bank Securities president, this new partnership will enable National Bank to benefit from the experience of one of the strongest mutual fund companies and extend it to its sales force and client base.
“Fidelity managers generally favour a healthy diversification within funds by opting for all types of capitalization and investing in numerous sectors and countries. This approach is perfectly in tune with our own philosophy and is one that we strive to convey to our clients,” noted Breton.
“This partnership is based on the commitment Fidelity and National Bank share to the value of professional financial advice to mutual fund investors,” said David Denison, president of Fidelity Investments Canadians Limited. “These new funds will make Fidelity’s global investment expertise available to 2,500 more mutual fund representatives and their clients who are seeking increased choice in investments.”
The new funds will be managed by National Bank Securities and sold specifically through the National Bank branch network. Fidelity funds were already available to National Bank clients through National Bank Discount Brokerage and National Bank Financial.
-IE Staff
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