NBI Tactical Asset Allocation Fund

Investment Objective

The fund’s objective is to ensure long-term capital growth. The fund primarily invests tactically, directly or through investments in securities of other mutual funds (that may include exchange-traded funds ("ETFs")), in fixed-income and equity securities from around the world.

Fund Details

Investment horizon

At least 3 years

Fund volatility

Low to Medium

Minimum Initial Investment:

$500

Subsequent Investment:

$50

Systematic Investment:

$25

Distribution Frequency:

Annually

Assets Under Management ($M):

$6,185.5

Price per Unit:

$12.77

Inception Date:

May 21, 2019

Value of $10,000 since inception:

$14,085

Benchmark Index:

Morningstar Canada Liquid Bond TR CAD (50%)

Morningstar US Large Cap TR CAD (20%)

Morningstar Canada Large-Mid GR CAD (15%)

Morningstar Developped Markets ex North America GR CAD (10%)

Morningstar Emerging Markets Large-Mid GR CAD (5%)

Management Fee:

1.60%

MER:

2.00%

Portfolio Manager:

National Bank Investments Inc.

Available Fund Codes:

Advisor Series
Initial Sales Charge	NBC3438
F Series	NBC3738

Portfolio Asset Mix (% of Net Assets)

	Domestic Bonds	29.63%
	US Equity	27.14%
	Canadian Equity	24.97%
	International Equity	17.87%
	Income Trust Units	0.20%
	Cash and Equivalents	0.11%
	Other	0.08%

Top Holdings	%
Global X Canadian Select Universe Bd CC ETF (HBB)	28.53
Global X S&P 500 Index CC ETF (HXS)	27.87
Global X S&P/TSX Capped Comp Ind CC ETF (HXCN)	20.90
iShares Core MSCI Emerging Markets ETF (IEMG)	9.61
iShares Core MSCI EAFE ETF (IEFA)	7.01
iShares Core S&P/TSX Capped Composit Idx ETF (XIC)	4.15
NBI Canadian Bond Index Fund	1.07
Global X MSCI Emerging Markets Index ETF C$ (EMMX)	0.86
Total of Top Holdings of the Fund (% of Net Assets):	100.00
Total Number of Securities Held:	8

Calendar Returns (%)

YTD	2025	2024	2023	2022	2021	2020
11.87	11.87	9.23	6.09	-11.82	9.73	7.86

Annualized Returns (%)

1 M	3 M	6 M	1 Y	3 Y	5 Y	10 Y	Incp.
-0.71	1.56	8.81	11.87	9.04	4.64	-	5.31

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.