TORONTO , June 25, 2020 /CNW/ - NEI Investments ("NEI") today announced its intention to discontinue its deferred sales charge ("DSC"), low load, low load 2 and low load 3 (together "LL") sales charge purchase options for those NEI funds that offer DSC or LL. There is falling demand for such options across the industry as advisors seek alternate fee arrangements to meet their clients' needs.
On or about August 10, 2020 , DSC and LL sales charge purchase options across NEI's fund lineup will be closed to new investors. For investors with existing DSC and/or LL units as of that date, subsequent investments subject to DSC and/or LL sales charges will be available until October 2020 .
On or about October 5, 2020 , DSC and LL sales charge purchase options will be closed to all investment. Investors with existing DSC and/or LL units will remain invested based on the redemption fee schedule applicable to those units.
About NEI Investments
"NEI Investments" and "NEI" refer to Northwest & Ethical Investments L.P., an Ontario limited partnership.
NEI Investments is a Canadian asset manager committed to providing focused investment solutions advised by best-of-breed, independent portfolio managers. NEI delivers disciplined, active asset management with a longstanding focus on environmental, social and governance factors, and a well-defined corporate engagement process designed to create sustainable long-term value. NEI is a wholly owned subsidiary of Aviso Wealth, a national, integrated financial services company, with approximately $70 billion in assets. For more information please visit www.neiinvestments.com and www.aviso.ca
SOURCE NEI Investments
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