As at July 31, 2025

NBI Global Tactical Bond Fund

F Series

Category: Global Fixed Income

Investment Objective

To generate income and capital growth, while focusing on capital preservation. To do this the fund invests directly, or indirectly through investments in securities of other mutual funds or through the use of derivatives, in a diverse portfolio mainly composed of bonds and other foreign fixed income securities with various maturities and credit ratings.

Fund Details

Investment horizon

At least 3 years

Fund volatility

Low

Minimum Initial Investment:

$500

Subsequent Investment:

$50

Systematic Investment:

$25

Distribution Frequency:

Monthly

Assets Under Management ($M):

$1,127.4

Price per Unit:

$8.78

Inception Date:

May 24, 2016

Value of $10,000 since inception:

$10,992

Benchmark Index:

Bloomberg Global Aggregate Index (CAD Hedged)

Management Fee:

0.84%

MER:

1.06%

Portfolio Manager:

National Bank Investments Inc.

Sub-Advisor:

Insight North America LLC

Management Fee Reduction Plan¹

For High Net Worth investors
Amount Applicable

Level to the level* Reduction
1 First $250,000 0.050%
2 Next $250,000 0.100%
3 In excess of $500,000 0.150%

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 NBC425
Deferred Sales Charge NBC525
Low Sales Charge NBC625
Advisor- U.S. $ Series
Initial Sales Charge NBC5433
Deferred Sales Charge NBC5533
Low Sales Charge NBC5633
Advisor_2 Series
Initial Sales Charge NBC6425
Deferred Sales Charge NBC6527
Low Sales Charge NBC6625
F Series NBC725
F_2 Series NBC6725
F_US Series NBC5733
FT Series NBC727
FT- U.S. $ Series
FT_US Series NBC5734
FT_2 Series
F_2 Series NBC6727
O Series NBC327
O_US Series NBC3333
T Series
Initial Sales Charge NBC427
Deferred Sales Charge NBC527
Low Sales Charge NBC627
T- U.S. $ Series
Initial Sales Charge NBC5434
Deferred Sales Charge NBC5534
Low Sales Charge NBC5634
T_2 Series
Initial Sales Charge NBC6427

Portfolio Asset Mix

(% of Net Assets)

Foreign Government Bonds 76.49%
Foreign Corp Bonds - Other 8.60%
Foreign Corp Bonds - Invest Gr 5.81%
Bonds - Other 4.35%
Canadian Government Bonds 1.78%
Cash and Equivalents 1.60%
Foreign high yield bonds 0.94%
Other 0.43%
Credit Rating %
AAA 15.00
AA 51.06
A 18.60
BBB 9.40
<= BB 5.13
Average Duration (Years) 7.40
Average Maturity (Years) 13.00
Gross Yield to Maturity (%) 4.30
Gross Current Yield (%) 4.10
Top Holdings %
iShares China CNY Bond UCITS ETF USD 9.88
United States Treasury 4.00% 31-Mar-2030 5.01
United States Treasury 4.25% 15-May-2035 4.63
United States Treasury 4.00% 28-Feb-2030 4.29
United States Treasury 3.88% 15-Aug-2034 3.71
Government of the United States 3.88% 30-Jun-2030 2.76
United States Treasury 4.63% 15-Feb-2035 2.41
Germany Government 2.40% 18-Apr-2030 1.92
Italy Government 4.40% 01-May-2033 1.76
Brazil Government 10.00% 01-Jan-2033 1.59
Total of Top Holdings of the Fund
(% of Net Assets):
37.96
Total Number of Securities Held: 194

Calendar Returns (%)

YTD 2024 2023 2022 2021 2020 2019
0.60 2.46 6.10 -11.01 -2.26 6.44 7.67

Annualized Returns (%)

1 M 3 M 6 M 1 Y 3 Y 5 Y 10 Y Incp.
-0.54 -0.52 0.17 0.79 1.65 -0.69 - 1.04

The rate of return anticipated on a bond if it is held until the maturity date expressed as an annual rate. It is assumed that all coupons are reinvested at the same rate.

Annual income paid by a bond or a stock, expressed as a percentage of its current market price. It does not include any capital gains or losses that may be realized upon maturity.

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.