National Bank Investments (NBI) announced March 1 the termination of the NBI Short Term Canadian Income Fund and the NBI Short Term Canadian Income Private Portfolio.
The funds will be terminated on or about May 1, 2018. In addition, the funds are now closed to new subscriptions, with the exception of pre-established systematic investment and distribution reinvestment plans.
NBI says the decision was made “to simplify NBI's investment solutions lineup and to better address investors' needs.”
Consult with an advisor
NBI encourages unitholders of the funds to consult with their advisor “to understand the financial and tax implications of the termination of the funds and to determine the solution that best suits their investment needs and personal situation.”