Business
CWB Wealth Management Ltd. Announces Change to Portfolio Manager of CWB Mutual Funds and Discontinuation of Offering and Termination of Series A Units
CWB Wealth Management Ltd. ("CWB WM"), the manager of the CWB Onyx Conservative Solution, the CWB Onyx Balanced Solution, the CWB Onyx Growth Solution, the CWB Onyx Diversified Income Fund, the CWB Onyx Canadian Equity Fund, the CWB Onyx North American Equity Fund, and the CWB Onyx Global Equity Fund (collectively, the "Funds"), announced today a change to the portfolio manager of the Funds from CWB WM to its affiliate, National Bank Financial Inc. ("NBF"), and the discontinuation of the offerin
About this update from National Bank Of Canada
[{"type":"text","content":"EDMONTON, AB, Oct. 8, 2025 /CNW/ - CWB Wealth Management Ltd. ("CWB WM"), the manager of the CWB Onyx Conservative Solution, the CWB Onyx Balanced Solution, the CWB Onyx Growth Solution, the CWB Onyx Diversified Income Fund, the CWB Onyx Canadian Equity Fund, the CWB Onyx North American Equity Fund, and the CWB Onyx Global Equity Fund (collectively, the "Funds"), announced today a change to the portfolio manager of the Funds from CWB WM to its affiliate, National Bank Financial Inc. ("NBF"), and the discontinuation of the offering and the termination of the Series A units of the Funds.","length":627,"tagName":"p"},{"type":"text","content":"These changes are being implemented as part of the ongoing integration of CWB WM and its products and services with National Bank of Canada and its related companies following the acquisition of Canadian Western Bank by National Bank of Canada earlier this year.","length":262,"tagName":"p"},{"type":"text","content":" Portfolio manager change ","length":24,"tagName":"p"},{"type":"text","content":"CWB WM currently acts as investment fund manager and portfolio manager of the Funds. Effective on or about October 10, 2025, CWB WM will appoint NBF to act as portfolio manager of the Funds. CWB WM will continue to act as investment fund manager of the Funds. There will be no changes to the investment objectives or investment strategies of the Funds as a result of this change.","length":379,"tagName":"p"},{"type":"text","content":" Discontinuation of the offering of Series A units ","length":49,"tagName":"p"},{"type":"text","content":"Effective on or about November 22, 2025 (the "Discontinuation Date"), Series A units of the Funds will no longer be available for purchase for new or existing unitholders, including purchases made through a pre-authorized purchase plan. Existing investors may continue to hold their Series A units, but will not be able to purchase any additional Series A units on or after the Discontinuation Date.","length":409,"tagName":"p"},{"type":"text","content":" Termination of Series A units ","length":29,"tagName":"p"},{"type":"text","content":"After close of business on or about March 31, 2026, Series A Units of the Funds will be terminated. At that time, units of the Series A will be redeemed at their net asset value and proceeds distr...