NEI begins new partnership

Toronto-based NEI Investments, a division of Northwest & Ethical Investments LP, has introduced Montreal-based Addenda Capital Inc. as subadvisor to NEI Ethical International Equity Fund. With more than $24 billion in assets under management for institutional and private-wealth clients, the Addenda team brings a 10-year track record of investing in international equities. The fund will begin utilizing Addenda’s investment philosophy, which is focused on sustainable earnings growth aimed at achieving long-term capital growth. Management fees for NEI Ethical International Equity Fund have dropped to 2% from 2.1% for A-class units, and to 1% from 1.1% for F-class units. The fixed administration fee for the fund has dropped to 0.5% from 0.55%. In addition, NEI has reopened NEI Northwest Tactical Yield Corporate Class to new purchases. This fund seeks to deliver solid performance through all types of markets on both an absolute basis and relative to its category peers.

(cohara@investmentexecutive.com).