Montreal-based National Bank Securities Inc. (NBS) today announced the launch of three new funds: National Bank Floating Rate Income Fund; National Bank Global Tactical Bond Fund and National Bank U.S. Dividend Fund.
The objective of National Bank Floating Rate Income Fund is to generate interest income while minimizing the effects of interest-rate fluctuations. The fund invests in a portfolio composed mainly of fixed-rate Canadian bonds and/or preferred shares issued by North-American companies and enters into derivatives transactions to generate a floating rate of income. Portfolio management is entrusted to Montreal-based Fiera Capital Corp., which with more than $67 billion in assets under managemen.
The objective of National Bank Global Tactical Bond Fund is to generate income and capital growth, while focusing on capital preservation. The fund invests in a diverse portfolio mainly composed of bonds and other foreign fixed income securities with various maturities and credit ratings. Portfolio management is by BNY Mellon Asset Management Canada Ltd. The daily management of the fund will be carried out by the portfolio sub-advisor Standish Mellon Asset Management Company LLC, based in Boston.
The objective of National Bank U.S. Dividend Fund is to obtain long-term capital appreciation and increase capital while focusing on the generation of dividend income. The fund invests in a portfolio composed mainly of equity securities of U.S. companies with large market capitalizations that pay or are likely to pay dividends. Portfolio management of the fund is provided by Montreal-based investment counsel Jarislowsky, Fraser Ltd., which manages over $30 billion for pension funds, endowment funds and corporate and private portfolios for clients in North America and overseas.