CORRECTING and REPLACING Natixis Global Asset Management Announces Fund Changes in Canada

CORRECTION...by Natixis Global Asset Management

TORONTO--()--Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

NATIXIS GLOBAL ASSET MANAGEMENT ANNOUNCES FUND CHANGES IN CANADA

Natixis Global Asset Management Canada (Natixis, as manager of the NexGen Funds) today announced a reduction in the management fees for certain funds, portfolio manager changes, and a proposed fund merger.

Fee Reductions

Effective September 19, 2016, Natixis will reduce the management fees on certain funds and series as outlined in the table below:

             
     

Current Annual
Management Fee

   

New
Management Fee

NexGen Canadian Bond Tax Managed Fund            

- Regular (Front End Load), Deferred Load, Low Load series

    1.35%     1.25%

- Regular F

    0.85%     0.75%
NexGen Canadian Bond Fund            
- Regular (Front End Load), Deferred Load, Low Load series     1.35%     1.25%

- Regular F

    0.85%     0.75%
NexGen Corporate Bond Tax Managed Fund            

- Regular (Front End Load), Deferred Load, Low Load series

    1.45%     1.25%

- Regular F

    0.95%     0.75%
NexGen Corporate Bond Fund            
- Regular (Front End Load), Deferred Load, Low Load series     1.45%     1.25%

- Regular F

    0.95%     0.75%

These series fee reductions apply across all tax classes of the applicable funds.

Changes in Portfolio Management and Related Investment Strategy Changes

  • NexGen Corporate Bond Fund and NexGen Corporate Bond Tax Managed Fund (the Corporate Bond Funds)

Effective on or about October 17, 2016, the portfolio manager for each of the Corporate Bond Funds will change to Loomis Sayles & Company, L.P. (Loomis Sayles) and the Corporate Bond Funds will be renamed Loomis Sayles Global Diversified Corporate Bond Fund and Loomis Sayles Global Diversified Corporate Bond Tax Managed Fund, respectively. NexGen Corporate Bond Tax Managed Fund seeks to achieve its investment objective through investing substantially all of its assets in units of NexGen Corporate Bond Fund.

The investment strategies of the Corporate Bond Funds will be changed on this date (indirectly in the case of NexGen Corporate Bond Tax Managed Fund) to allow to allow The Global Bond product team at Loomis Sayles greater investments in foreign and high yield fixed-income securities.

  • NexGen Turtle Canadian Balanced Registered Fund and NexGen Turtle Canadian Balanced Tax Managed Fund (the Turtle Balanced Funds)

Effective on or about October 17, 2016, the portfolio manager for each of the Turtle Balanced Funds will change to Cidel Asset Management Inc. (Cidel) and the funds will be renamed Natixis Strategic Balanced Registered Fund (SBF) and Natixis Strategic Balanced Tax Managed Fund (SBTM), respectively. SBF seeks to achieve its investment objective through investing substantially all of its assets in non-publicly offered debt and shares of NexGen Turtle Canadian Balanced Tax Managed Fund.

The investment strategies of the Turtle Balanced Funds will be changed on this date (indirectly in the case of SBF) to reflect the investment style of Cidel and to provide for increased flexibility in achieving their investment objectives.

  • NexGen Canadian Diversified Income Registered Fund (CDIRF) and NexGen Canadian Diversified Income Tax Managed Fund (CDITM) (the Cdn Income Funds)

Effective on or about October 17, 2016, the portfolio manager for each of the Cdn Income Funds will change to Cidel. CDIRF seeks to achieve its investment objective through investing substantially all of its assets in non-publicly offered debt and shares of CDITM.

The investment strategies of the Cdn Income Funds will be changed on this date (indirectly in the case of CDITM) to reflect the investment style of Cidel and to provide for increased flexibility in achieving their investment objectives.

Proposed Fund Mergers

Effective on or about December 9, 2016 and subject to obtaining all necessary securityholder and regulatory approvals, Natixis proposes that each Terminating Fund in the table below be merged into the corresponding Continuing Fund as listed in the table below:

             
Terminating Fund     Continuing Fund     Effective Date

NexGen Canadian Diversified
Income Registered Fund

   

NexGen Turtle Canadian Balanced
Registered Fund

    December 9, 2016

NexGen Canadian Diversified Tax
Managed Fund

   

NexGen Turtle Canadian Balanced Tax
Managed Fund

    December 9, 2016

Each of the mergers, if approved, will result in a change in the investment objective and strategies for securityholders of the Terminating Funds. If the mergers are not approved, the investment objective and strategies of these funds will not change. Securityholders of the Terminating Funds will be asked to approve the mergers at special meetings to be held on or about December 2, 2016.

Assuming the mergers receive all necessary approvals, security holders of each series (and classes, in the case of CDITM) of the Terminating Funds will receive securities of the equivalent series (and class, in the case SBTM) of SBF or SBTM, as applicable, all determined on a dollar-for-dollar basis. As soon as practicable following the mergers, the Terminating Funds will be wound up.

The Independent Review Committee of each of the funds has reviewed the potential conflict of interest matters related to the proposed mergers and has provided a positive recommendation that the proposed mergers, if implemented, would achieve a fair and reasonable result for each of the funds.

Securities of each of the Terminating Funds will cease to be available for sale effective the close of business September 26, 2016, except for purchases through pre-authorized investment plans. Pre-authorized investment plans of the Terminating Funds will be re-established with SBF or SBTM, as applicable, unless an investor advises the Manager otherwise. Investors may change or cancel a pre-authorized investment plan at any time.

Cautionary Statement on Forward Looking Information

This press release may include forward looking statements within the meaning of securities laws. Forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from what is currently expected. Accordingly, readers should not place undue reliance on forward looking statements.

About Natixis Global Asset Management

Natixis Global Asset Management serves thoughtful investment professionals worldwide with more insightful ways to invest. Through our Durable Portfolio Construction® approach, we focus on risk to help them construct more strategic portfolios that seek to endure today’s unpredictable markets. We draw from deep investor and industry insights and partner closely with our clients to put objective data behind the discussion.

Natixis Global Asset Management is ranked among the world’s largest asset management firms.1 Uniting over 20 specialized investment managers globally ($874.5 billion AUM2), we bring a diverse range of solutions to every strategic opportunity. From insight to action, Natixis Global Asset Management helps our clients better serve their own with more durable portfolios.

Headquartered in Paris and Boston, Natixis Global Asset Management, S.A. is part of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Global Asset Management, S.A.’s affiliated investment management firms and distribution and service groups include Active Index Advisors;3 AEW Capital Management; AEW Europe; AlphaSimplex Group; Axeltis; Darius Capital Partners; DNCA Investments;4 Dorval Finance;5 Emerise;6 Gateway Investment Advisers; H2O Asset Management;5 Harris Associates; IDFC Asset Management Company; Loomis, Sayles & Company; Managed Portfolio Advisors;3 McDonnell Investment Management; Mirova;5 Natixis Asset Management; Ossiam; Seeyond;7 Vaughan Nelson Investment Management; Vega Investment Managers; and Natixis Global Asset Management Private Equity, which includes Seventure Partners, Naxicap Partners, Alliance Entreprendre, Euro Private Equity, Caspian Private Equity and Eagle Asia Partners. Visit ngam.natixis.com for more information.

1 Cerulli Quantitative Update: Global Markets 2016 ranked Natixis Global Asset Management, S.A. as the 16th largest asset manager in the world based on assets under management ($870.3 billion) as of December 31, 2015.
2 Net asset value as of June 30, 2016. Assets under management (AUM) may include assets for which non-regulatory AUM services are provided. Non-regulatory AUM includes assets which do not fall within the SEC’s definition of ‘regulatory AUM’ in Form ADV, Part 1.
3 A division of NGAM Advisors, L.P.
4 A brand of DNCA Finance.
5 A subsidiary of Natixis Asset Management.
6 A brand of Natixis Asset Management and Natixis Asset Management Asia Limited, based in Singapore and Paris.
7 A brand of Natixis Asset Management.

Contacts

NATIXIS GLOBAL ASSET MANAGEMENT
Elizabeth Bartlett, 617-449-2549
Elizabeth.Bartlett@NGAM.Natixis.com

Release Summary

Natixis Global Asset Management Announces Fund Changes in Canada

Contacts

NATIXIS GLOBAL ASSET MANAGEMENT
Elizabeth Bartlett, 617-449-2549
Elizabeth.Bartlett@NGAM.Natixis.com