MONTREAL, March 31 2016 /CNW Telbec/ - The 2016 federal budget, announced on March 22^nd, contains a proposal to amend the Income Tax Act in order to eliminate, as of October 1, 2016, the deferral of capital gains tax for investors converting between different classes of shares within a mutual fund corporation (such as National Bank Funds Corporation). Following implementation of this proposal, such a conversion will be treated, for tax purposes, as a disposition at fair market value, triggering taxable capital gains or losses.

National Bank Investments Inc. ("NBI") currently manages seven classes of shares of National Bank Funds Corporation, namely the following corporate class funds:

NBI is evaluating the impact of the change proposed in the federal budget for holders of the securities of the classes of shares of National Bank Funds Corporation. These security holders may contact their advisor in order to obtain further information and to determine their different investment options.

Also, effective on or about October 1, 2016, the fixed rate administration fees for the Meritage Global Equity Class Portfolio, the Meritage Growth Class Portfolio and the Meritage Equity Class Portfolio will be reduced from the current rate of 0.24% to 0.18%, 0.16% and 0.19%, respectively. 

Amendments to the simplified prospectuses for the National Bank Mutual Funds and the Meritage Portfolios will be filed in connection with these changes, and will be available at www.sedar.com and www.nbc.ca.

About National Bank Mutual Funds and Meritage Portfolios®
National Bank Mutual Funds are offered, and Meritage Portfolios® are managed, (collectively, the "Funds") by National Bank Investments 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 Funds. Please read the prospectus of the Funds before investing. The Funds' securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.
® MERITAGE PORTFOLIOS and the Meritage Portfolios logo are registered trademarks of Banque Nationale du Canada, used under license by National Bank Investments Inc.

About National Bank Investments Inc.
National Bank Investments Inc. ("NBI") is a wholly owned subsidiary of National Bank of Canada specialized in designing and managing mutual funds and mutual fund portfolios. As at December 31, 2015, the value of assets under management in NBI products amounted to $26.1 billion.

Guided by a 100% open architecture philosophy, NBI is dedicated to providing diverse solutions to meet the evolving needs of its clients. NBI consistently strives to be recognized as a key partner by combining innovation and excellence. NBI is an investment fund management firm committed to offering a broad selection of investment solutions that meet a wide range of investment profiles. NBI's role is not limited to administrative aspects of management; NBI Advisory Services and its registered representatives form a team of specialists who provide information and advice to help investors build portfolios adapted to their financial needs.

About National Bank of Canada
With $219 billion in assets as at January 31, 2016, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has close to 20,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

SOURCE National Bank of Canada