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 (NA.TO). 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
- National Bank of Canada
- currency conversion
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