Our custody partner National Bank Correspondent Network (NBCN) is backed by the financial strength and ongoing support of National Bank of Canada, a federally chartered Schedule A bank and public company listed on the TSX. National Bank of Canada has been providing financial services to individuals, corporations and governments since 1859, making it one of Canada’s oldest financial institutions.
Your accounts are protected by the Canadian Investor Protection Fund (CIPF). The limit is $1,000,000 CDN for any combination of cash and securities. Most investors will have two accounts (a general account and a retirement account) that are each eligible for $1,000,000 coverage.
The AFINA Affinity Managed Account is a portfolio of our North American equity selections. The number of positions will range from 20-35 depending on market conditions. Each equity position may have a weighting of between 2% and 5%.
The AFINA Optima10 Managed Account is a portfolio of our top 10 North-American equity selections, with a bias towards dividend-paying companies. Each of the 10 equity positions will have a weight of 8.5% – 9.5% at each re-balancing event, with cash comprising the balance of the portfolio.
The AFINA Balanced Managed Account is a combination of our AFINA Optima10 active equity portfolio and our selection of two Vanguard Canada fixed income exchange traded funds (ETFs).
The AFINA Income Managed Account is our selection of Vanguard Canada dividend and fixed income exchange traded funds (ETFs) with an additional allocation to a high-income savings account that is equivalent to cash.
AFINA earns a management fee of between 0.65% and 1.85% annually (plus HST), depending on the product type and client’s assets. This compares to the average Canadian equity mutual fund management expense ratio (MER) of 2.40%.*
* Source: The Globe and Mail. Despite high fees, popularity of segregated funds on the rise, May 5, 2015.