NEI announces mutual fund changes

NEI announces mutual fund changes

NEI announces mutual fund changes

Northwest & Ethical Investments (NEI) has announced changes to its mutual fund lineup.

Pursuant to a transaction combining its fund management and fund activities with that of OceanRock Investments, NEI became the manager and trustee of the following funds:

  • NEI Jantzi Social Index Fund (formerly Meritas Jantzi Social Index Fund)
  • NEI U.S. Equity Fund (formerly OceanRock U.S. Equity Fund)
  • NEI International Equity Fund (formerly Meritas International Equity Fund)
  • NEI Select Income Portfolio (formerly OceanRock Income Portfolio)
  • NEI Select Growth & Income RS Portfolio (formerly Meritas Growth & Income Portfolio)
  • NEI Select Growth & Income Portfolio (formerly OceanRock Growth & Income Portfolio)
  • NEI Select Maximum Growth RS Portfolio (formerly Meritas Maximum Growth Portfolio)

NEI has also expanded its preferred pricing program to cover its entire fund lineup, which includes its newly acquired funds and its longstanding managed portfolios, on or about December 3.

“Investors today expect pricing that reflects fair value for the products they invest in,” says Fred Pinto, SVP and head of Asset Management. “NEI's Preferred Pricing Program fully meets the expectations of investors who have placed their confidence in our active management approach.”

The firm also announced the immediate closures of Series B units of NEI Select Income RS Portfolio, NEI Select Income & Growth Portfolio, NEI Select Balanced Portfolio, NEI Select Growth Portfolio and NEI Select Maximum Growth Portfolio to new purchases. Pre-authorized payment plans for Series B units will be automatically re-established to purchase Series A or Series P units of the same fund.

Series T units of NEI Select Income Portfolio, NEI Select Growth & Income RS Portfolio and NEI Select Growth & Income Portfolio have also been closed to new purchases. Any pre-authorized payment plans for Series T units will B automatically re-established to purchase series A units of the same fund.

The reclassification from Series B to Series P units will occur on or about December 18 for investors who meet the minimum investment threshold for eligibility in the firm’s preferred pricing program. The move from Series B and Series T units to Series A, meanwhile, is expected to occur on or about January 18.

Finally, NEI has announced three changes to its Responsible Investment Policy:

  • Changing the application of responsible screens used by funds designated with "RS" in their name, as well as select other funds in the NEI lineup, to exclude companies with specific types of involvement in gambling and pornography, in addition to pre-existing screens on tobacco, nuclear power and weapons.
  • Expanding the breadth of the existing NEI weapons screen.
  • Adding impact investing as a distinct responsible investment approach.


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