MONTREAL, Feb. 18, 2014 /CNW Telbec/ - National Bank Financial Wealth
Management has just introduced a multi-currency account that allows
clients to make investments in stocks, bonds and other securities from
the four corners of the earth without incurring repeated currency
conversion costs.
With a multi-currency account, a client may, for example, contact his or
her Investment Advisor to open an account denominated in euro in order
to buy shares on the Frankfurt stock exchange, subsequently sell them
and then buy another European stock without having to incur currency
conversion charges with each transaction. All transactions will be made
in euro with no conversion back to Canadian or U.S. dollars.
"Geographic diversification is a key factor in sound portfolio
management, as it allows for both increased performance and reduced
risk. However, over the long-term, clients who trade securities on
international markets see their investment returns reduced if they must
bear the costs of repeated currency conversions. A multi-currency
account is the ideal tool to reduce these conversion costs to an
absolute minimum" said Martin Lavigne, President of National Bank
Financial Wealth Management.
NBF Wealth Management's new multi-currency trading account permits
investment transactions in the following currencies: euro, British
pound, Swiss franc, Norwegian krone, Swedish krona, Mexican peso,
Australian dollar, Hong Kong dollar, Japanese yen, and the Singapore
dollar.
National Bank and its subsidiaries offer a variety of services as well
as advice to individuals, companies and investors in matters related to
foreign currencies and their associated products. National Bank clients
can also order foreign currency online via its www.nbc.ca portal.
About National Bank of Canada
With $188 billion in assets as at October 31, 2013, National Bank of
Canada (www.nbc.ca) together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and has been named among the 20 strongest
banks in the world by Bloomberg Markets magazine. The Bank has close to
20,000 employees and is widely recognized as a top employer. Its
securities are listed on the Toronto Stock Exchange (TSX: NA). Follow
the Bank's activities via social media and learn more about its
extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.
About National Bank Financial
With $80 billion in assets under administration and under management,
National Bank Financial is a fully-integrated investment dealer
combining retail advisory and brokerage services with institutional
brokerage, investment banking, corporate finance, and securities
clearing for third parties. National Bank Financial offers its services
to more than 350,000 clients. Its Financial Markets division has a
major presence in Toronto, Calgary, Vancouver and Montreal, as well as
operations in the United States and Europe.
SOURCE National Bank of Canada
