National Bank of Canada

National Bank of Canada

February 27, 2012 15:44 ET

National Bank Securities Announces New Portfolio Manager for Most National Bank Securities Mutual Funds

MONTREAL, QUEBEC--(Marketwire - Feb. 27, 2012) - (TSX:NA) National Bank Securities Inc., the manager of National Bank Securities Mutual Funds, has announced that, on or about April 30, 2012, portfolio management of the National Bank Securities Mutual Funds that are currently managed by Natcan Investment Management Inc. ("Natcan"), will be assumed by Fiera Sceptre Inc. ("Fiera"), subject to the closing of the transaction described below.

This change follows the announcement by National Bank of Canada (the "Bank") and Fiera that they have entered into an asset purchase agreement under which Fiera will acquire Natcan's business from the Bank. Natcan's operations will be fully integrated into Fiera's existing business. The transaction is subject, among other things, to obtaining regulatory approvals, the signing of ancillary agreements and the approval of Fiera's Class A shareholders. An annual and special meeting of Fiera's Class A shareholders is to be held for this purpose on March 29, 2012. At the closing of the transaction, on or about April 30, 2012, the Bank will hold a minority interest in Fiera through Natcan.

The Omega High Dividend Fund, the Omega Preferred Equity Fund (whose portfolios are managed by Intact Investment Management Inc.), the Omega Global Equity (whose portfolio is managed by Fidelity Investments Canada ULC) and the Omega Canadian Equity (whose portfolio is managed by CI Investments Inc.) are not affected by this change.

About National Bank Securities Inc.

National Bank Securities Mutual Funds (the "Funds") are offered by National Bank Securities Inc., a wholly owned subsidiary of National Bank of Canada. Brokerage fees, commissions, trailing commissions, management fees and expenses all may be associated with investment the Funds. 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. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.

About National Bank of Canada

National Bank is an integrated group that 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. 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. As at October 31, 2011, National Bank has over CDN$156 billion in assets in accordance with Canadian GAAP and, together with its subsidiaries, employs more than 19,000 people. The Bank's securities are listed on the Toronto Stock Exchange (TSX:NA). For more information, visit the Bank's website at To access National Bank's financial literacy portal, visit

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Contact Information

  • Joan Beauchamp
    Senior Advisor, Public Relations
    National Bank of Canada