National Bank Investments Inc. (“NBI”) announces that, effective today, the units of all series of the NBI Canadian Preferred Equity Private Portfolio (the “Fund”) will no longer be available for purchase by new or existing unitholders, including purchases made through a pre-authorized purchase plan.
NBI was informed that a substantial portion of the Fund’s units will be redeemed progressively in the coming months. Effective immediately, the portfolio sub-advisor, Fiera Capital Corporation, will carry out a progressive and orderly liquidation of the Fund’s assets over this period in order to meet redemption requests. While care will be given to remain invested in accordance with the Fund’s investment objective and strategies, the preferred equity market presents unique challenges. As such, the Fund’s portfolio sub-advisor may, from time to time, depart from the investment objective and strategies stated in the Fund’s prospectus.
During the liquidation period, NBI will assess whether the Fund should ultimately, in the best interest of its unitholders, be terminated or merged with another NBI Fund, depending on market conditions.
The above changes will be reflected in the upcoming amendment to the simplified prospectus for the NBI Funds which will be available on the SEDAR+ website (www.sedarplus.ca) and the National Bank Investments website (www.nbinvestments.ca).