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The National Bank launches five new National Bank/Fidelity Funds
Montreal, 19 October 2000 - Following the announcement of a new partnership with Fidelity Investments Canada Limited, National Bank Securities Inc. has obtained the necessary receipts from regulatory authorities to launch the following five new National Bank/Fidelity Funds:
- National Bank/Fidelity Global Asset Allocation Fund
- National Bank/Fidelity International Portfolio Fund
- National Bank/Fidelity Growth America Fund
- National Bank/Fidelity Focus Financial Services Fund
- National Bank/Fidelity Canadian Asset Allocation Fund
These new funds are now available in close to 600 National Bank branches in Quebec, Ontario and New Brunswick. Like other National Bank Mutual Funds, there are no fees for purchases, redemptions or transfers.
These new funds are structured so as to mirror the returns of the underlying Fidelity Funds. To achieve this, the net assets of each National Bank/Fidelity Fund are fully invested in units of the corresponding underlying fund. Moreover, all expenses are paid by National Bank Securities, outside each fund. The management fees and expense ratio of the new funds therefore match those of the underlying Fidelity Funds and, for unitholders, there is no duplication of management fees.
These five new funds bring the number of funds offered by the National Bank Mutual Fund family up to 48. Specifically, this family now includes 11 international growth funds and eight specialized funds, counting the two new funds launched a couple of weeks ago: the National Bank Emerging Markets Fund and the National Bank European Small Capitalization Fund.
The Fidelity Funds that have been selected to complete the range of National Bank products are funds that have high visibility among Canadian investors and serve to complement the other National Bank funds.
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National Bank of Canada is an integrated group whose mission is to provide 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 all the investment banking services required by large corporations. 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. The National Bank has assets of over $70 billion and, together with its subsidiaries, it employs over 17,000 people. The Bank's shares are listed on the Toronto stock exchange.
Fidelity Investments is the fourth largest investment fund company in Canada, and it is part of Fidelity Investments of Boston, the largest mutual fund company in the world. In Canada, Fidelity manages assets of more than $34 billion, and provides investors with a complete range of Canadian and foreign funds. In 1999, Fidelity was awarded the prize for the "Best Fund Management Group" and the "Best Individual Fund Manager" in the very first Reuters survey of Canadian companies. The respondents to this survey of 174 Canadian businesses also ranked three Fidelity fund managers among the top 20.
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Information:
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Jean Robillard
Media Relations and
Financial Communications Officer
Public Relations Department
Tel: (514) 394-6990
jean.robillard@bnc.ca
www.nbc.ca
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*The telephone number and e-mail address are for the exclusive use of journalists and other media representatives.
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