Mutual funds

NEI Investments makes enhancements to mutual fund line-up

NEI Investments has made several enhancements to its mutual fund line-up, including the NEI Global Total Return Bond Fund and the NEI Ethical Select Income Portfolio.

To address the needs of income seeking investors, NEI Investments has introduced a Series T version of the NEI Global Total Return Bond Fund. The fund will seek to pay a fixed monthly distribution, consisting of income and/or return of capital based on an initial target annualized payout of four per cent. The target payout will be reviewed each year in order to confirm the appropriateness of the distribution policy based on prevailing market conditions as well as the outlook for the economy and capital markets.
 
Further building out its line-up of portfolio solutions available for fee-based accounts, NEI Investments has introduced a Series F version of the NEI Ethical Select Income Portfolio. The fund will seek to pay a fixed monthly distribution, consisting of income and/or return of capital based on an initial target annualized payout of three per cent, which will be reviewed annually to ensure that it remains appropriate based on prevailing market conditions and the outlook for the economy and capital markets.
 
NEI has reduced management fees for NEI Northwest US Dividend Fund and NEI Northwest US Dividend Corporate Class by 10 basis points.
 
NEI Investments has introduced premium pricing options on the following mandates: the NEI Ethical Global Dividend Fund, the NEI Global Total Return Bond Fund, the NEI Northwest Macro Canadian Asset Allocation Fund, the NEI Northwest Tactical Yield Fund, and the NEI Northwest US Dividend Fund.
 
In September 2014 NEI Investments will be reopening NEI Northwest Tactical Yield Corporate Class. The fund had previously been temporarily closed since 12 April 2013 to address the implications of the Federal Government's elimination of tax benefits associated with character conversion transactions. As part of the reopening, the fund will change its investment objectives such that it will invest substantially all of its assets directly in units of the underlying NEI Northwest Tactical Yield Fund, a fund-of-funds. The investment objective changes will be effective 23 September 2014 and the fund will reopen for new purchases on or around 29 September 2014.

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