NEI Investments expands its product shelf

Toronto-based Northwest and Ethical Investments LP has added three funds to its lineup: Northwest Macro Canadian Asset Allocation Fund, Northwest Macro Canadian Equity Fund and Northwest Macro Canadian Equity Corporate Class. Christine Hughes, portfolio manager with Toronto-based Otterwood Capital Management Inc., will manage the funds. Northwest Macro Canadian Asset Allocation Fund invests primarily in a mix of Canadian and foreign equities and fixed-income securities, including money market instruments. Northwest Macro Canadian Equity Fund (formerly Northwest Specialty Innovations Fund) and Northwest Macro Canadian Equity Corporate Class (formerly Northwest Specialty Innovations Corporate Class) provide investors with the opportunity to achieve long-term capital appreciation by investing primarily in equities issued by Canadian companies and, to a lesser extent, by foreign companies. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales, 1% for the regular low-load option or 3.5% for the low-load 3 option. Redemption fees begin at 6% in Year 1 and end at zero after Year 6 for the regular DSC schedule, begin at 3% in Year 1 and end at zero after Year 3 for the low-load option, or begin at 4.5% in Year 1 and end at zero after Year 3 for the low-load 3 option. Trailing commissions are 1% for front-end sales; 0.5% for both deferred and regular low-load sales; and 0.5% during the first three years of the low-load 3 sales, and 1% thereafter. Management fees are 1.95% for A-class units and 0.95% for F-class units of the asset allocation fund, and 2% for A-class units and 1% for F-class units for the other two funds.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).