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Non-Traditional Fixed Income Private Pool
What is a Private Pool?
A Private Pool is a private investment fund. In return for your
investment in the Private Pool, you will receive units of the
Private Pool. The value of these units is based on the value of
the Private Pool’s underlying investments. A professional
portfolio manager manages these investments on a
discretionary basis.
Investment Strategy
The Non-Traditional Fixed Income Private Pool (referred to
hereafter as the “Private Pool”) uses a multi-manager approach
to complement your exposure to traditional fixed income
securities. Implicitely, the Private Pool seeks to maximize the
return potential of fixed income portfolios amid various
economic environments. Your Investment Advisor may provide
you with the complete Investment Policy Statement.
Content
The Private Pool achieves exposure to the above asset class by
investing up to 100% of its assets in the underlying funds
managed by third parties. The Private Pool will seek for
protection against interest rates, have greater diversity of risk
factors, take advantage of opportunistic arbitrage, and have a
short duration. The Private Pool may hold a portfion of its assets
in cash, money market securities or money market funds while
seeking investment opportunities.
Investment Horizon
The investment horizon is short to medium term, therefore 1 year
or more.
Other characteristics
Inception Date: April 26, 2013
Initial minimum investment: $5,000
Subsequent investments: $500
Code: TBN397
Portfolio Manager: National Bank Trust
Benchmark: FTSE TMX Canada Universe Bond Index
Private Pool performance as at December 31,
2014
Pool
Benchmark**
1 month
-0.11%
0.56%
3 months
-0.15%
2.70%
YTD
-0.44%
8.79%
1 year
-0.44%
8.79%
Since inception*
-1.06%
4.26%
Annualized.
** FTSE TMX Canada Universe Bond Index
*
Returns presented in Canadian dollars after administrative fees
Correlation with DEX Universe: 50.00%
Strategic Asset Allocation
Total Return Bond Fund
Fixed Income Plus Fund
Currency Management and
Arbitrage Short-Term Fund
Fixed Income
Opportunities Fund
Senior Bank Loans
Tactical Bond Yield Fund
35.00%
20.00%
15.00%
10.00%
10.00%
10.00%
Sector Allocation (%)

Canadian Corporate Bonds
Canada Government
US Governement
Mortgages
Cash & Other Assets
International
American Corporate Bonds
Others
Provincial
31.01%
28.28%
13.35%
12.26%
5.33%
3.61%
3.61%
1.80%
0.75%
For more information
This Basket is suitable for investors who:
• want to add a non-traditional sleeve to their fixed income
portfolio.
• are willing to tolerate a low level of risk.
This summary may not contain all the information you need.
Refer to the Discretionary Management Agreement for more
detailed information. Should you require further information,
please contact your National Bank Financial Investment Advisor.
How risky is it?
You can have access to this summarized fact sheet and the
Disclosure Statement at http://nbfwm.ca/en/baskets.
This investment is not guaranteed and its value can go down as
well as up. National Bank Financial rates this investment’s risk
as low.
Low

Low to
Moderate
Moderate
Moderate to
High
High
How much does it cost?
Investment
*
Fees*
from $1 to $100,000
1.00%
from $100,000.01 to $250,000
0.85%
from $250,000.01 to $500,000
0.75%
from $500,000.01 to $1,000,000
0.70%
$1,000,000.01 or more
0.65%
A word about tax
In general, you’ll have to pay income tax on any gain and
revenue generated from your investment. How much you pay
depends on the tax laws that are applicable in the area you live
in and whether or not you hold the investment in a registered
plan, such as a Registered Retirement Savings Plan or a Tax-Free
Savings Account. Keep in mind that if you hold your investment
in a non-registered account, fund distributions or capital gains
are included in your taxable income; whether they are paid,
accrued or reinvested.
Where applicable, fee schedules attributed to fixed rate accounts supersede these fees.
Payable within your brokerage account, management fees are
charged monthly as a percentage of the Private Pool's market
value. Your Investment Advisor may also charge you a trading
fee of up to 2% of your investment. Each Private Pool pays
annual operating expenses of up to 0.15% of its market value.
Underlying investments in the Private Pool are presented net of
all other fees.
Private Pool content as at December 31, 2014
Description
Weight
Description
Weight
Total Return Bond Fund
36.07%
Fixed Income Opportunities Fund
9.37%
Fixed Income Plus Fund
19.92%
Cash & Other Assets
0.89%
Tactical Bond Yield Fund
18.80%
Currency Management and Arbitrage Short-Term Fund
14.96%
The Private Pools are offered in the context of the Discretionary Management Program offered by National Bank Financial Inc. and National Bank Financial Ltd.
(collectively, “NBF”), subsidiaries of National Bank of Canada. Please read the terms of the Discretionary Management Agreement to be entered into between
you and NBF before investing. An investment in a Private Pool is not guaranteed, its value changes frequently and past performance may not be repeated.
This document may not be copied or distributed, either in whole or in part, without the prior written consent of NBF.
Non-Traditional Fixed Income Private Pool
Who is this investment for?