National Bank Investments is reducing its administration fees, management fees and trailing commissions on certain Meritage Portfolios, effective April 1, 2017.

Read: What do you do to make fees more transparent?

Administration fee reductions

The administration fees for the following Meritage Portfolios will be reduced as indicated in the table below.

Portfolios and series Current administration fee New administration fee
Meritage Canadian Equity Portfolio

(Advisor, F, F5 and T5 Series)

0.24% 0.18%
Meritage American Equity Portfolio

(Advisor, F, F5 and T5 Series)

0.24% 0.18%
Meritage International Equity Portfolio

(Advisor, F, F5 and T5 Series)

0.24% 0.18%
Meritage Conservative Portfolio

(Advisor, F, F5 and T5 Series)

0.18% 0.11%
Meritage Moderate Portfolio

(Advisor, F, F5 and T5 Series)

0.18% 0.12%
Meritage Balanced Portfolio

(Advisor, F, F5 and T5 Series)

0.13% 0.12%
Meritage Aggressive Growth Portfolio

(Advisor, F, F5 and T5 Series)

0.19% 0.18%
Meritage Moderate Income Portfolio

(Advisor and F Series)

0.18% 0.12%
Meritage Growth Income Portfolio

(Advisor and F Series)

0.18% 0.16%
Meritage Aggressive Growth Income Portfolio

(Advisor and F Series)

0.20% 0.18%

Read: National Bank reports 31% increase in wealth management income

Management fee and trailing commission reductions

In addition, the management fees for the Advisor and T Series (or T5 Series, if applicable) of the following Meritage Portfolios will be reduced as indicated in the table below. This change reflects the decrease in trailing commissions to be simultaneously implemented.

Trailing commissions are decreased to better align the dealer compensation paid for these portfolios with the compensation generally paid in the market to dealers of equity funds. This reduction applies to the trailing fees for the initial sales charge option and deferred sales charge option (plus-six years).

Portfolio Current management fee New management fee Current dealer compensation* New dealer compensation*
Meritage Canadian Equity Portfolio Advisor Series: 2.25%

T5 Series: 2.25%

Advisor Series: 2.00%

T5 Series: 2.00%

Advisor Series: 1.25%

T5 Series: 1.25%

Advisor Series: 1.00%

T5 Series: 1.00%

Meritage Canadian Equity Class Portfolio Advisor Series: 2.25%

T Series: 2.25%

Advisor Series: 2.00%

T Series: 2.00%

Advisor Series: 1.25%

T Series: 1.25%

Advisor Series: 1.00%

T Series: 1.00%

Meritage Global Equity Portfolio Advisor Series: 2.25%

T5 Series: 2.25%

Advisor Series: 2.00%

T5 Series: 2.00%

Advisor Series: 1.25%

T5 Series: 1.25%

Advisor Series: 1.00%

T5 Series: 1.00%

Meritage Global Equity Class Portfolio Advisor Series: 2.25%

T Series: 2.25%

Advisor Series: 2.00%

T Series: 2.00%

Advisor Series: 1.25%

T Series: 1.25%

Advisor Series: 1.00%

T Series: 1.00%

Meritage American Equity Portfolio Advisor Series: 2.25%

T5 Series: 2.25%

Advisor Series: 2.00%

T5 Series: 2.00%

Advisor Series: 1.25%

T5 Series: 1.25%

Advisor Series: 1.00%

T5 Series: 1.00%

Meritage International Equity Portfolio Advisor Series: 2.25%

T5 Series: 2.25%

Advisor Series: 2.00%

T5 Series: 2.00%

Advisor Series: 1.25%

T5 Series: 1.25%

Advisor Series: 1.00%

T5 Series: 1.00%

Meritage Aggressive Growth Portfolio Advisor Series: 2.25%

T5 Series: 2.25%

Advisor Series: 2.00%

T5 Series: 2.00%

Advisor Series: 1.25%

T5 Series: 1.25%

Advisor Series: 1.00%

T5 Series: 1.00%

Meritage Aggressive Growth Class Portfolio Advisor Series: 2.25%

T Series: 2.25%

Advisor Series: 2.00%

T Series: 2.00%

Advisor Series: 1.25%

T Series: 1.25%

Advisor Series: 1.00%

T Series: 1.00%

Meritage Aggressive Growth Income Portfolio Advisor Series: 2.25% Advisor Series: 2.00% Advisor Series: 1.25% Advisor Series: 1.00%
Meritage Global Aggressive Growth Portfolio Advisor Series: 2.25%

T5 Series: 2.25%

Advisor Series: 2.00%

T5 Series: 2.00%

Advisor Series: 1.25%

T5 Series: 1.25%

Advisor Series: 1.00%

T5 Series: 1.00%

Meritage Global Aggressive Growth Class Portfolio Advisor Series: 2.25%

T5 Series: 2.25%

Advisor Series: 2.00%

T5 Series: 2.00%

Advisor Series: 1.25%

T5 Series: 1.25%

Advisor Series: 1.00%

T5 Series: 1.00%

* Initial sales charge and deferred sales charge (plus-six years)

The management fees for F Series (and F5 Series, if applicable) of some Meritage Portfolios will also be reduced. Specifically, the management fee of these series will be reduced from 1.00% to 0.90% on the Meritage Conservative Portfolio, the Meritage Moderate Portfolio, the Meritage Conservative Income Portfolio and the Meritage Moderate Income Portfolio; from 1.00% to 0.95% on the Meritage Global Conservative Portfolio and the Meritage Global Moderate Portfolio; and from 1.00% to 0.85% on the Meritage Canadian Equity Portfolio and the Meritage Canadian Equity Class Portfolio.

Name changes

Finally, the English versions of the names of some Meritage Portfolios will be changed to align more closely with the French versions. The changes are indicated below.

Current name New name
Meritage Aggressive Growth Portfolio Meritage Dynamic Growth Portfolio
Meritage Aggressive Growth Class Portfolio Meritage Dynamic Growth Class Portfolio
Meritage Aggressive Growth Income Portfolio Meritage Dynamic Growth Income Portfolio
Meritage Global Aggressive Growth Portfolio Meritage Global Dynamic Growth Portfolio
Meritage Global Aggressive Growth Class Portfolio Meritage Global Dynamic Growth Class Portfolio

Also read: Why this advisor went discretionary

Originally published on Advisor.ca
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