NEI Investments launches new mandates; re-opens funds

“Christine Hughes is an active, high conviction manager who focuses on macro- economic analysis to drive downside protection. These new mandates provide her with the risk management tools and the flexibility to make active asset allocation decisions in response to changing economic conditions,” said Daniel Solomon, chief investment officer at NEI.

Northwest Macro Canadian Asset Allocation Fund provides OtterWood with an exceptionally wide allocation range between equities and fixed income as well as the ability to hold gold or use derivative strategies to manage downside risk. Northwest Macro Canadian Equity Fund provides a similar set of tools and the latitude to aggressively protect assets in volatile markets.

Hughes’ macro-focused approach fared exceptionally well through both the highest and lowest markets of the past fifteen years.

“Over the last few years there has been much debate about how to best manage portfolios through the sovereign debt crisis and political events that continue to interconnect global markets. We believe the way these funds are managed is the perfect answer to that debate,” continues Solomon.

On May 29, NEI received unitholder approval to rename and change the objectives of Northwest Specialty Innovations Fund and Northwest Specialty Innovations Corporate Class to Northwest Macro Canadian Equity Fund and Northwest Macro Canadian Equity Corporate Class. The funds were closed to new subscriptions on April 11, pending unitholder approval, and a transition of the portfolio holdings was completed to reflect the new fundamental investment objectives. Both funds were re-opened on July 3, under the new fund names and mandates.

NEI Investments, with offices in Toronto, Vancouver and Montreal, is owned 50% by the Provincial Credit Union Centrals and 50% by Desjardins Group.