NEI Investments Announces Update to Corporate Class Fund Mergers

CBJ Newsmakers

TORONTO, ON–(Marketwired – December 22, 2017) – NEI Investments (“NEI”) today announced, on behalf of its corporate class funds, which are each a separate class of special shares of Northwest Corporate Class Inc. (the “Corporate Class Funds”), its intention to merge each such fund into its corresponding trust fund version as shown in the chart below in the first quarter of 2018, subject to any necessary approvals being obtained or notices being sent.

NEI had previously announced its intention to merge the funds before the end of 2017; however it wanted to ensure that Bill C-63 had been passed prior to effecting the mergers. Bill C-63 provides the ability for the mergers to be effected by way of a one-time tax-free roll-over for the investors in the Corporate Class Funds into the corresponding trust funds. As Bill C-63 only received Royal Assent on December 14, 2017, it was not possible for NEI to complete the mergers in accordance with the original time-line. “We wanted to ensure certainty for our investors before proceeding with what we believe to be the best course of action for them with respect to the Corporate Class Funds,” said John Kearns Chief Executive Officer of NEI.

Terminating Fund   Continuing Fund
NEI Northwest Short Term Corporate Class   NEI Money Market Fund
NEI Northwest Tactical Yield Corporate Class   NEI Northwest Tactical Yield Fund
NEI Northwest Growth and Income Corporate Class   NEI Northwest Growth and Income Fund
NEI Northwest Canadian Dividend Corporate Class   NEI Northwest Canadian Dividend Fund
NEI Northwest Canadian Equity Corporate Class   Northwest Canadian Equity Fund
NEI Northwest U.S. Dividend Corporate Class   NEI Northwest U.S. Dividend Fund
NEI Northwest Emerging Markets Corporate Class   NEI Northwest Emerging Markets Fund
NEI Northwest Global Equity Corporate Class   NEI Northwest Global Equity Fund
NEI Northwest Speciality Equity Corporate Class   NEI Northwest Speciality Equity Fund
NEI Select Conservative Corporate Class Portfolio   NEI Select Conservative Portfolio
NEI Select Balanced Corporate Class Portfolio   NEI Select Balanced Portfolio
NEI Select Growth Corporate Class Portfolio   NEI Select Growth Portfolio
NEI Select Global Maximum Growth Corporate Class Portfolio   NEI Select Global Maximum Growth Portfolio

As of June 7, 2017, purchases (including Authorized Payment Plans) of and switches to the Corporate Class Funds were discontinued. Investors, who wish to re-establish an Authorized Payment Plan in the corresponding trust fund version of the applicable Corporate Class Fund they currently hold, should consult their financial advisors. Automatic Withdrawal Plans in the Corporate Class Funds will continue to be honoured until the date of the mergers and will then be re-established in the fund which is the corresponding trust fund version of the applicable Corporate Class Fund.


NEI Investments is a national investment firm with approximately $6 billion in assets under management. It offers Canadian retail investors access to experienced money managers through a wide range of investment solutions in three fund families, NEI, Northwest Funds and Ethical Funds. Its products provide investors with a full range of investment management styles as well as conventional and responsible investment choices.

NEI Investments is owned 50% by the Provincial Credit Union Centrals and 50% by Desjardins Group. This backing of experience and resources allows NEI Investments to actively support business growth in these networks as well as independent advisor channels.

NEI Investments has offices in Toronto, Vancouver and Montreal.

Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to the future outlook of the NEI Funds and anticipated events or results and may include statements regarding the future financial performance of the NEI Funds. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “anticipate”, “believe”, “intend” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.

For further information, please contact:
Media contact:
Connie Burke
Office: 905 257 5555