National Bank to close Omega Preferred Equity Fund to new investors

By Toni Weeks

San Diego, Aug. 28 - National Bank Securities Inc. announced that it will close its Omega Preferred Equity Fund to new investors on Sept. 30.

The fund will continue to be available to existing investors as well as some funds that are managed by the company or its affiliates.

The fund's closure will allow Intact Investment Management Inc., the fund's portfolio manager, to continue applying its investment philosophy.

"The Omega Preferred Equity Fund was launched in 2007 and has proven to be a superior investment product for investors looking for stable distributions of tax-efficient dividend income," president Michel Falk said in a press release.

Since its inception, the fund has grown steadily and recently surpassed C$470 million of managed assets, the release noted.

The subsidiary of Montreal-based National Bank of Canada also said it is planning to launch the Altamira Preferred Equity Fund, which will invest in a diversified portfolio of dividend-paying preferred equities and is appropriate for new investors seeking dividend income and capital preservation.

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