Management changes at NBI

Montreal-based National Bank Investments Inc. has changed portfolio managers for National Bank Global Diversified Equity Fund. As of September, Montreal-based National Bank Trust Inc. will replace Toronto-based Fidelity Investments Canada ULC as the fund’s portfolio manager. The fund is meant to provide unitholders with long-term capital growth by investing directly in the equities of companies located outside Canada or indirectly through investments in other mutual funds. As well, the National Bank fund will be renamed NBI Global Diversified Equity Fund. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales and 2.5% for the low-load option. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule, and begin at 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1% for the front-end sales; 0.5% for the first six years of deferred sales, and 1% thereafter; and 0.5% for the first three years of low-load sales, and 1% thereafter. Management fees are 2% for A-class units. Minimum investment is $500. For more information, visit www.nbc.ca.

(fcollie@investmentexecutive.com).