MONTREAL, April 23, 2014 /CNW Telbec/ - National Bank of Canada (the
« Bank ») has notified National Bank Securities Inc., manager of
Westwood Global Equity Fund (the « Fund »), of its intention to redeem
a maximum of $7.5 million worth of the Fund's units, which represents
69 % of the Fund's net asset value as at April 22, 2014. The Bank had
already redeemed, on January 28, 2014, 393 314 units of the Fund, which
then represented 27 % of the net asset value of the Fund.
The initial investment of the Bank was made shortly after the creation
of the Fund in October 2012 in order to allow for better management of
the Fund's portfolio. The decision to redeem units is in the normal
course of business of the Bank and does not reflect an opinion
regarding the quality of the units. It is intended that the redemption
occur on May 13, 2014 at the earliest.
Westwood Global Equity Fund (the "Fund") is offered by National Bank
Securities Inc., a wholly owned subsidiary of National Bank of Canada.
Commissions, trailing commissions, management fees and expenses all may
be associated with investments in the Fund. Please read the prospectus
of the Fund before investing. The Fund's securities are not insured by
the Canada Deposit Insurance Corporation or by any other government
deposit insurer. The Fund is not guaranteed, its values change
frequently and past performance may not be repeated.
About National Bank of Canada
With $195 billion in assets as at January 31, 2014, 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.
SOURCE National Bank of Canada
(The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Jean-François Cadieux
Chief Advisor - Public Affairs
National Bank
Tel.: 514-394-6500
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