NEI to eliminate Deferred Sales Charge and Low-Load Fund sales charge options for ALL NEI Funds

Impacted fund units will be converted to corresponding front-end units

TORONTO, Jan. 13, 2025 /CNW/ - NEI Investments (NEI) today announced that all fund units currently being held in deferred sales charge options (DSC) and low-load sales charge options (LL) will be converted to the corresponding front-end sales charge options (FE) for the same series of applicable funds.

Mature and non-mature units held in DSC sales charge options and LL sales charge options, including Low Load 2 and Low Load 3 sales charge options, will be converted automatically to the corresponding FE sales charge option. Investors do not need to take any action, nor will there be additional charges resulting from the conversions. Since the conversions will take place within the same series of the applicable funds, all fees, including the Management Expense Ratios that currently apply to the DSC and LL sales charge options, will remain unchanged and there will be no immediate tax implications for investors as a result of the conversions. Upon completion of the conversions, any units held in FE sales charge options that meet the eligibility criteria for the Preferred Pricing Program will be automatically switched to the corresponding Preferred Pricing Series. 

All conversions are expected to be implemented on or about March 14, 2025.

All DSC and LL sales charge options have been capped to new investment since October 2020. Upon completion of the conversion, all DSC and LL options will be permanently removed from NEI's product offering.

DSC and LL sales charge options will be converted to the corresponding FE sales charge options for the following funds on or about March 14, 2025:

About NEI

NEI Investments is part of the asset management arm of Aviso Wealth Inc. (Aviso), one of Canada's leading wealth services providers. NEI holds approximately $12.5 billion in assets under management.

NEI adopts a differentiated approach to achieving investment returns for Canadians, leveraging a unique structure that includes a global network of money managers, proprietary investment management and asset allocation and a dedicated responsible investing team. This structure is designed to optimally respond to the dynamics of a changing world, uncover unique investment opportunities, and deliver a broad array of investment outcomes with financial growth at the core.

About Aviso

Aviso is a leading wealth services provider for the Canadian financial industry, with approximately $145 billion in total assets under administration and management. Aviso is building a technology-enabled, client-centric wealth management ecosystem for its clients, which include partners, advisors and investors. Aviso is a trusted partner for nearly all credit unions across Canada, in addition to a wide range of portfolio managers, investment dealers, insurance and trust companies, and introducing brokers. These partners depend on Aviso for specific solutions that give them a competitive edge in a rapidly evolving, highly competitive industry.

Aviso's dual-registered investment and mutual fund dealer and its insurance services support thousands of investment advisors. Aviso's asset manager oversees a growing lineup of investment solutions, including NEI funds and portfolios, and separately managed accounts under the Managed Assets Program. Aviso's online brokerage, Qtrade Direct Investing®, empowers self-directed investors, and its fully automated investing service, Qtrade Guided Portfolios®, serves investors who prefer a hands-off approach. Aviso Correspondent Partners provides custodial and carrying broker services to a wide range of firms. Aviso is backed by the collective strength of its owners: the credit union Centrals, Co-operators/CUMIS, and Desjardins. Aviso is proud to power businesses that empower investors. For more information visit aviso.ca.

Aviso Wealth Inc. ("Aviso") is a wholly owned subsidiary of Aviso Wealth LP, which in turn is owned 50% by Desjardins Financial Holding Inc. and 50% by a limited partnership owned by the five Provincial Credit Union Centrals and The CUMIS Group Limited. The following entities are subsidiaries of Aviso: Aviso Financial Inc. (including divisions Aviso Wealth, Qtrade Direct Investing, Qtrade Guided Portfolios, Aviso Correspondent Partners), Aviso Insurance Inc., Credential Insurance Services Inc. and Northwest & Ethical Investments L.P. Aviso Correspondent Partners is a division of Aviso Financial Inc., which is a wholly owned subsidiary of Aviso Wealth Inc. Online brokerage services are offered through Qtrade Direct Investing. Mutual funds and other securities are offered through Aviso Wealth. Qtrade Direct Investing, Qtrade Guided Portfolios and Aviso Wealth are divisions of Aviso Financial Inc. Aviso and Aviso Wealth are registered trademarks of Aviso Wealth Inc. NEI Investments is a registered trademark of Northwest & Ethical Investments L.P. Qtrade Direct Investing and Qtrade Guided Portfolios are trade names and registered trademarks of Aviso and its subsidiaries.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus and/or Fund Facts before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.

NEI Investments is a registered trademark of Northwest & Ethical Investments L.P. ("NEI LP"). Northwest & Ethical Investments Inc. is the general partner of NEI LP and a wholly owned subsidiary of Aviso Wealth Inc. ("Aviso"). Aviso is the sole limited partner of NEI LP. Aviso is a wholly owned subsidiary of Aviso Wealth LP, which in turn is owned 50% by Desjardins Financial Holding Inc. and 50% by a limited partnership owned by the five provincial credit union Centrals and The CUMIS Group Limited.

SOURCE NEI Investments