NBI Income Fund

Investment Objective

To achieve a reasonably high return (higher than that for five-year GICs) and income for the investor by investing mainly in fixed income securities primarily invested in Canadian (federal and provincial) government bonds and investment grade corporate bonds. It is expected that investments in foreign securities will not exceed approximately 30% of the fund’s net assets.

Fund Details

Investment horizon

At least 1 year

Fund volatility

Low

Minimum Initial Investment:

$500

Subsequent Investment:

$50

Systematic Investment:

$25

Distribution Frequency:

Monthly

Assets Under Management ($M):

$57.7

Price per Unit:

$8.02

Inception Date:

February 19, 1970

Value of $10,000 over 10 years:

$11,593

Benchmark Index:

FTSE Can. Univ. Bond

Management Fee:

1.00%

MER:

1.11%

Portfolio Manager:

National Bank Investments Inc.

Sub-Advisor:

Fiera Capital Corporation

Available Fund Codes:

Investor Series

NBC196

Portfolio Asset Mix (% of Net Assets)

	Canadian Provincial Bonds	30.75%
	Canadian Government Bonds	29.19%
	Cdn Corp Bonds - Invest Grade	18.56%
	Cdn Corp Bonds - Other	13.55%
	Cash and Equivalents	5.75%
	Bonds - Other	1.31%
	Foreign Government Bonds	0.61%
	Other	0.28%

Credit Rating	%
AAA	1.17
AA	71.49
A	14.27
BBB	13.07

Average Duration (Years)	7.23
Average Maturity (Years)	10.24
Average Coupon	3.80
Gross Yield to Maturity (%)^†	3.40
Gross Current Yield (%)^‡	3.74

Top Holdings	%
Canada Government 4.00% 01-Aug-2026	3.97
Canada Government 2.75% 01-May-2027	3.53
Canada Government 1.50% 01-Jun-2031	3.33
Canada Government 2.75% 01-Dec-2055	2.69
Canada Government 2.00% 01-Jun-2032	2.27
Canada Housing Trust No 1 4.78% 15-Mar-2027	2.07
Ontario Province 2.80% 02-Jun-2048	2.06
Canada Government 2.75% 01-Jun-2033	1.88
Canada Government 2.50% 01-Dec-2032	1.80
Canada Government 3.00% 01-Jun-2034	1.62
Total of Top Holdings of the Fund (% of Net Assets):	25.22
Total Number of Securities Held:	409

Allocation by Maturity	%
Short Term	30.05
Mid Term	36.57
Long Term	33.38

Calendar Returns (%)

YTD	2024	2023	2022	2021	2020	2019
3.29	3.97	6.15	-12.59	-3.15	8.82	5.91

Annualized Returns (%)

1 M	3 M	6 M	1 Y	3 Y	5 Y	10 Y	Incp.
0.64	2.84	2.11	4.25	4.88	-0.42	1.49	6.62

^†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.