New name and mandate for NEI fund

IE Staff Related news The changes were approved by a majority of votes cast at a vote held April 23. Boston-based Columbia Management Investment Advisers LLC has assumed management responsibilities for both of these funds. “Columbia’s active investment approach and focus on downside risk really aligns well to our own investment philosophy,” said Daniel Solomon, CIO at NEI, “We are delighted to have Columbia join our portfolio management team and pleased to be able to broaden our global line-up with a strong emerging markets offering”. Founded in 1894 with current assets under management at more than $300 billion, Columbia Management is one of the longest standing and largest investment firms in the United States. They apply a unique multi-disciplined investment process designed to generate more risk-managed performance within the emerging markets equity category. NEI also announced the reduction of the management fee on the Series A and Series F units of the fund to 2.15% and 1.15% respectively. This reduction is a reflection of NEI’s ongoing efforts to reduce fees wherever possible. NEI Investments is owned 50% by the Provincial Credit Union Centrals and 50% by Desjardins Group. Share this article and your comments with peers on social media Toronto-based NEI Investments said Monday that it has successfully transitioned the fund objectives on the NEI Northwest EAFE Fund and NEI Northwest EAFE Corporate Class to an Emerging Markets Equity mandate. The funds are now named the NEI Northwest Emerging Markets Fund and NEI Northwest Emerging Markets Corporate Class. NEO, Invesco launch four index PTFs Change to Counsel Global Small Cap Fund Keywords Fund managersCompanies NEI Investments Franklin Templeton renames funds with new managers Facebook LinkedIn Twitter

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