Changes to the investment strategy for the National Bank Canadian Index Fund
Montreal, 22 November 1999 -
National Bank Securities Inc., a wholly-owned National Bank of Canada subsidiary, is announcing changes to the investment strategy of the National Bank Canadian Index Plus Fund. The changes, effective today, apply to the Fund's investment strategy and objective.
The Fund was investing 70% to 80% of its portfolio in index participation units listed on the TSE 100. However, these securities, the TIPS 100, will soon be replaced by S&P/TSE 60 shares. The index is weighted based on the market capitalization of 60 companies listed on the Toronto stock market and is characterized by market sectors that reflect those companies' main economic traits. Therefore, the objective and the investment strategy of the National Bank Canadian Index Plus Fund will be as follows:
Ensure long-term growth of capital. The Fund will invest between 70% and 80% of its portfolio in index securities such as equity funds listed on the S&P/TSE 60 or other similar investment tools, or directly into stocks on the S&P/TSE 60 or in a combination thereof. The Fund has obtained the necessary authorizations to make the investments in the above-mentioned percentages.
The active management of the other assets in the Fund will focus on the most promising Canadian stocks in order to surpass the return on the S&P/TSE 60 index.
Overview of the business
National Bank Securities Inc. is the main manager and investor of National Bank Funds. The National Bank Fund Family includes 36 no-fee funds sold in over 600 National Bank branches throughout Canada. The assets managed and administered by National Bank Securities Inc. total over $3.6 billion.
- 30 -
||NATIONAL BANK SECURITIES INC.
|Yves G. Breton