As at July 31, 2025

NBI Canadian Equity Fund

(formerly NBI Jarislowsky Fraser Select Canadian Equity Fund)

Advisor Series

Category: Canadian Focused Equity

Investment Objective

To achieve long-term capital growth by investing in a portfolio comprised mainly of equity securities of large-capitalization Canadian issuers. The fund may invest up to 49% of its assets in foreign securities.

Fund Details

Investment horizon

At least 5 years

Fund volatility

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:

Annually

Assets Under Management ($M):

$996.5

Price per Unit:

$27.37

Inception Date:

October 7, 2010

Value of $10,000 over 10 years:

$21,594

Benchmark Index:

S&P/TSX Capped Composite Index (CAD)

Management Fee:

1.75%

MER:

2.10%

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 NBC3402
Low Sales Charge NBC3602
Deferred Sales Charge NBC9502
Advisor_2 Series
Initial Sales Charge NBC6402
Deferred Sales Charge NBC6502
Low Sales Charge NBC6602
F Series NBC3702
F5 Series NBC5702
T5 Series
Initial Sales Charge NBC5402
Low Sales Charge NBC5602

Portfolio Asset Mix

(% of Net Assets)

Canadian Equity 86.79%
US Equity 7.60%
International Equity 2.89%
Cash and Equivalents 2.72%
Sector Allocation %
Financial Services 25.95
Technology 18.22
Consumer Goods & Services 15.73
Industrial Goods & Services 13.93
Real Estate 12.07
Energy 4.96
Healthcare 4.82
Basic Materials 4.32
Dividend Yield (Trailing Yield) 1.54
Top Holdings %
Brookfield Corp Cl 5.48
Toronto-Dominion Bank 5.39
Canadian National Railway Co 4.98
Shopify Inc Cl 4.02
Open Text Corp 3.96
Bank of Montreal 3.78
CAE Inc 3.75
Constellation Software Inc 3.71
National Bank of Canada 3.07
WSP Global Inc 2.87
Total of Top Holdings of the Fund
(% of Net Assets):
41.01
Total Number of Securities Held: 47

Calendar Returns (%)

YTD 2024 2023 2022 2021 2020 2019
5.84 20.49 17.89 -13.30 23.57 5.41 19.11

Annualized Returns (%)

1 M 3 M 6 M 1 Y 3 Y 5 Y 10 Y Incp.
0.37 8.14 2.59 15.87 13.67 12.59 8.00 8.06

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.