National Bank Financial Group

National Bank Financial Group

June 05, 2009 08:30 ET

National Bank Securities Announces Fee Reductions on its Money-Market Funds

MONTREAL, QUEBEC--(Marketwire - June 5, 2009) - With short-term interest rates reaching unprecedented lows, National Bank Securities announces it is reducing the management fees and operating costs of its money-market funds.

Effective June 15, the management fees of the National Bank Money Market Fund and the National Bank U.S. Money Market Fund will be permanently reduced from 0.90% to 0.75% and from 1.00% to 0.75%, respectively.

In conjunction with this cut, National Bank Securities has also decided to partially and temporarily waive the management fees and operating costs, as well as the trailer fees, if necessary, of the National Bank Corporate Cash Management, the National Bank Treasury Management Fund and the National Bank Strategic Yield Class, in addition to the two previously stated funds.

"Keeping in mind that our objective is to provide investors with the best possible return, we felt it was imperative to implement reductions to the management fees and trailing commissions on our money-market funds," said Charles Guay, president and CEO of National Bank Securities. "We will continue to monitor market conditions closely and will adjust our fees accordingly, so as to maintain investors' trust and confidence in the quality of our products," he added.

About National Bank Securities Inc.

National Bank Mutual Funds (the "Funds") are offered by National Bank Securities Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with Funds investments. Please read the prospectus of the Funds before investing. The Funds securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For money market funds, there can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in a fund will be returned. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.

About National Bank of Canada

National Bank of Canada, which is celebrating its 150th anniversary in 2009, is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has close to $138 billion in assets and, together with its subsidiaries, employs 17,343 people. The Bank's securities are listed on the Toronto Stock Exchange (TSX:NA). For more information, visit the Bank's website at


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Contact Information

  • National Bank Financial Group
    Denis Dube
    Director, Public Relations Department