Altamira Investment Services Inc. reports that National Bank of Canada has completed the acquisition, announced on August 20, of all the asset backed commercial paper held by the Altamira Mutual Funds.

The acquisition was made in accordance with the terms of an exemption obtained by the relevant funds from the Canadian Securities Administrators.

Altamira says National Bank of Canada completed the transaction so that its clients would not have to bear the brunt of the current market uncertainty relating to the liquidity of the ABCP.

In a brief statement, Altamira said “none of the Altamira Mutual Funds has any exposure to the current ABCP market.”