Toronto-based Northwest & Ethical Investments L.P. (NEI), the asset-management arm of Aviso Wealth Inc., has announced a number of changes to its mutual fund lineup.

NEI became the manager and trustee of several mutual funds formerly managed by OceanRock Investments Inc. effective Oct. 26:

  • NEI Jantzi Social Index Fund (formerly Meritas Jantzi Social Index Fund)
  • NEI U.S. Equity Fund (formerly OceanRock U.S. Equity Fund) NEI International Equity Fund (formerly Meritas International Equity Fund)
  • NEI Select Income Portfolio (formerly OceanRock Income Portfolio)
  • NEI Select Growth & Income RS Portfolio (formerly Meritas Growth & Income Portfolio)
  • NEI Select Growth & Income Portfolio (formerly OceanRock Growth & Income Portfolio)
  • NEI Select Maximum Growth RS Portfolio (formerly Meritas Maximum Growth Portfolio)
Also read

NEI’s preferred pricing program has expanded to cover the entire NEI fund lineup, and will become available on or about Dec. 3. It covers:

  • NEI Select Income RS Portfolio
  • NEI Select Income & Growth RS Portfolio
  • NEI Select Income & Growth Portfolio
  • NEI Select Balanced RS Portfolio
  • NEI Select Balanced Portfolio
  • NEI Select Growth RS Portfolio
  • NEI Select Growth Portfolio
  • NEI Select Maximum Growth Portfolio,
  • as well as any of the aforementioned newly acquired funds.

“Investors today expect pricing that reflects fair value for the products they invest in,” Fred Pinto, senior vice president and head of asset management of NEI, says in a statement. “NEI’s preferred pricing program fully meets the expectations of investors who have placed their confidence in our active management approach.”

Effective on or about Jan. 21, 2019, NEI Canadian Small Cap Equity Fund will be sub-advised by Laurus Investment Counsel Inc.

“Laurus is a boutique shop built by experienced portfolio managers who focus solely on generating superior performance in the small cap space,” Daniel Solomon, senior vice president and chief investment officer of NEI, says in a statement. “This change demonstrates NEI’s commitment to providing strong, institutional-quality portfolio managers across all asset classes.”

Effective immediately, Series B units of NEI Select Income RS Portfolio, NEI Select Income & Growth Portfolio, NEI Select Balanced Portfolio, NEI Select Growth Portfolio and NEI Select Maximum Growth Portfolio will be closed to new purchases (other than payments made through existing pre-authorized payment plans; investors with these plans will have their plans automatically reclassified to purchase Series A or Series P units).

The same is true of Series T units of NEI Select Income Portfolio, NEI Select Growth & Income RS Portfolio and NEI Select Growth & Income Portfolio. They will be closed to new purchases, and any existing pre-authorized payment plans will be automatically re-established to purchase Series A units of the same fund. If investors meet the minimum thresholds for Series P units, those will be selected instead of Series A.

NEI has also made changes to its responsible investment policy, including adding screens against gambling and pornography to funds designated with RS (responsible screens) in their name (which already exclude investments in tobacco, nuclear power and weapons).