As at July 31, 2025

NBI Jarislowsky Fraser Select Balanced Fund

Advisor Series

Category: Canadian Equity Balanced

Investment Objective

To achieve moderate capital growth by investing in a diversified portfolio comprised mainly of Canadian fixed income and equity securities. The fund may invest approximately 30% of its assets in equity or fixed-income securities of foreign issuers.

Fund Details

Investment horizon

At least 3 years

Fund volatility

Low to medium

Style

Sector
Deviation

Market
Capitalization

Style: Blend
Sector Deviation: Moderate
Market Capitalization: Large

Minimum Initial Investment:

$500

Subsequent Investment:

$50

Systematic Investment:

$25

Distribution Frequency:

Quarterly

Assets Under Management ($M):

$145.3

Price per Unit:

$20.29

Inception Date:

October 7, 2010

Value of $10,000 over 10 years:

$16,918

Benchmark Index:

Morningstar Canada Liquid Bond (40%)

Morningstar Canada Large-Mid  (35%)

Morningstar Developed Markets Large-Mid Cap (25%)

Management Fee:

1.70%

MER:

2.01%

Portfolio Manager:

National Bank Investments Inc.

Sub-Advisor:

Jarislowsky, Fraser Limited

Management Fee Reduction Plan¹

For High Net Worth investors
Amount Applicable

Level to the level* Reduction
1 First $250,000 0.025%
2 Next $250,000 0.050%
3 In excess of $500,000 0.075%

¹ Subject to satisfying one of the Plan admissibility criteria.
* The levels apply according to the market value of the
   assets.

Available Fund Codes:

Advisor Series
Initial Sales Charge NBC3401
Low Sales Charge NBC3601
F Series NBC3701
F5 Series NBC5701
T5 Series
Initial Sales Charge NBC5401
Low Sales Charge NBC5601

Portfolio Asset Mix

(% of Net Assets)

Canadian Equity 35.88%
Domestic Bonds 32.89%
US Equity 21.89%
International Equity 4.80%
Cash and Equivalents 4.54%
Sector Allocation %
Financial Services 27.75
Technology 20.57
Consumer Goods & Services 17.50
Healthcare 10.13
Industrial Goods & Services 9.84
Real Estate 7.46
Energy 3.55
Basic Materials 3.20
Dividend Yield (Trailing Yield) 1.27
Top Holdings %
Interactive Brokers Group Inc Cl 3.77
Brookfield Corp Cl 2.39
Amazon.com Inc 2.38
Alphabet Inc Cl 2.36
Mastercard Inc Cl 2.27
Microsoft Corp 2.26
Boston Scientific Corp 2.16
Toronto-Dominion Bank 2.08
Abbott Laboratories 1.93
Bank of Montreal 1.88
Total of Top Holdings of the Fund
(% of Net Assets):
23.48
Total Number of Securities Held: 209

Calendar Returns (%)

YTD 2024 2023 2022 2021 2020 2019
2.51 15.57 14.91 -13.90 12.35 7.68 14.11

Annualized Returns (%)

1 M 3 M 6 M 1 Y 3 Y 5 Y 10 Y Incp.
0.64 4.93 -1.23 9.39 9.88 7.10 5.40 6.17

Disclosure

NBI Mutual Funds (the “Funds”) are offered by National Bank Investments Inc. an indirect wholly owned subsidiary of National Bank of Canada and sold by authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The indicated rates of return are the historical annual compounded total returns which include changes in the value of securities and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For money market funds, there can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in a fund will be returned. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.