TORONTO--(BUSINESS WIRE)--Natixis Global Asset Management Canada (“Natixis”) announced today minimum investment amount reductions for Institutional Front End Load series and Series I securities of its mutual funds, the appointment of a sub-advisor and the termination of a fund.
Effective immediately, the minimum investment amount applicable to Institutional Front End Load series and Series I securities will be reduced from $2.5M to $1.0M.
In addition, effective March 21, 2017, Natixis will appoint Cidel Asset Management Inc. as the portfolio sub-advisor for NexGen Canadian Dividend Registered Fund and NexGen Canadian Dividend Tax Managed Fund. There are no changes to the investment objectives of the funds and the investment strategies of the funds will remain substantially similar.
Lastly, Natixis has decided to terminate NexGen Canadian Cash Tax Managed Fund on or about June 26, 2017. Effective today, this fund will no longer accept additional investments or switches into the fund. However, investors may continue to purchase shares through regular investment savings plans, redeem or switch their investments until the close of business on June 26, 2017. If alternative investment instructions are not received by June 26, 2017, any remaining investments in the fund will be redeemed and investors will be paid the proceeds of these investments. Natixis has determined that, due to the recent Federal government changes which ended the ability to effect tax deferred switching in corporate class funds, there is no longer a benefit for Natixis to offer both a trust and a corporate version of a money market fund. Investors that wish to switch into a money market fund may switch into NexGen Canadian Cash Fund 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 ($877 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 December 31, 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.