Ninepoint High Interest Savings Fund
Why Invest in Ninepoint High Interest Savings Fund
- No management fee on Series F – 0% management fee on Series F & ETF Series and 0.25% management fees on Series A^ until the earlier of June 30, 2024 or the Fund’s net asset value (NAV) exceeding $1 billion.^
- A better alternative for cash balances - The Fund invests in high interest savings accounts at Schedule 1 Canadian Banks with a current interest rate of 5.39%*, and/or high-quality money market securities.
*The interest rate on the underlying investments of the fund is effective as at July 13, 2023 and is subject to change. The interest rate may not represent your individual return as the fund may be subject to Management Fees and trailer fee on Series A of 0.25%. The Manager currently absorbs all other expenses.
- No term commitments - Unlike GICs and Term Deposits, there is no penalty for redemption.
- Daily liquidity - Easy access to cash.
- Now available as an ETF – Easier to incorporate into your portfolio model and bulk trade.
No Guarantees
Like most mutual funds, this Fund does not have any guarantees. You may not get back the amount of money you invest. For any deposits made in bank deposit accounts, the Fund is not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer.
Portfolio Characteristics as of 10/31/2023 (Series F)
^ Management fee, as described, will be reduced until the earlier of June 30, 2024 or the Fund’s net asset value (NAV) exceeding $1 billion, Ninepoint Partners will temporarily waive NSAV’s 0.14% management fee for Series F to 0.00%. The Series A management fee will be reduced from 0.39% to 0.25% under the same terms.
Sector Allocation as of 10/31/2023
| Sector | Weight |
|---|---|
| Schedule 1 Bank High Interest Savings Account | 82.25 |
| Short Term Corporate Bonds | 10.04 |
| Banker's Acceptance | 5.54 |
| Commercial Paper | 2.01 |
| Cash And Cash Equivalents | 0.16 |
Top Ten Holdings as of 10/31/2023
| Issuer Name |
|---|
| Toronto-Dominion Bank/The |
| Bank Of Montreal |
| Goldman Sachs Group Inc/The |
| Canadian Imperial Bank Of Commerce |
| Royal Bank Of Canada |
| Wells Fargo & Company |
| Pembina Pipeline Corp |
| Morgan Stanley |
| Honda Canada Finance Inc |
| Gm Financial Canada Leasing Ltd |
The Ninepoint High Interest Savings Fund is a high-quality, short-term vehicle for investors who want to earn a better rate of return on their idle cash.
- Invests in high interest saving accounts at Schedule 1 banks, and/or high-quality money market securities
- Daily Liquidity
- No Term Commitments
Investment Team
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Regulatory Documents
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Ticker & Fund Codes
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Fund Details
Fund Type High Interest Savings Fund Inception Date August 5, 2010 Distributions Monthly and annually in December (if any) Registered Tax Plan Status Eligible Management Fee Series A: 0.25%*
Series F: 0%*
Series ETF: 0%** Series A/F/ETF units are lower management fee versions of Series A/F/ETF units of the Fund and are available to all investors until the earlier of June 30, 2024 or the date the Fund has assets under management equal to or greater than $1 billion.
Performance Fee n/a Minimum Initial Investment $500 Minimum Subsequent Investment $25 Minimum Investment Term No minimum investment term Redemptions Daily Valuations Daily CUSIP NSAV: 65443X105 (Cboe)
All returns and fund details are a) based on Series F; b) net of fees; c) annualized if period is greater than one year; d) as at October 31, 2023.
The Fund is generally exposed to the following risks. See the prospectus of the Fund for a description of these risks: Credit risk; Cybersecurity risk; Inflation risk; Interest rate risk; Series risk; Substantial security holder risk; Tax risk; Leverage Risk.
Ninepoint Partners LP is the investment manager to the Ninepoint Funds (collectively, the “Funds”). Commissions, trailing commissions, management fees, performance fees (if any), and other expenses all may be associated with investing in the Funds. Please read the prospectus carefully before investing. The indicated rate of return for Class F shares of the Fund for the period ended October 31, 2023 is based on the historical annual compounded total return including changes in share value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.
Are You An Accredited Investor?
An investment in this Fund requires the financial ability and willingness to accept the high risks and lack of liquidity inherent in this type of an investment. Investors in the Fund must be prepared to bear such risks for an extended period of time and should review suitability with their Investment Advisor.
The minimum subscription amount is $150,000.00 in all jurisdictions, unless you meet the definition of "accredited investor" under National Instrument 45-106 Prospectus and Registration Exemptions.
If you meet the definition "accredited investor" (see below), you may invest a minimum of $25,000. Please consult the Offering Memorandum to determine your qualification status. Investment Advisors should consult their company's internal policies.
The Subscriber, or one or more beneficial purchasers for whom the Subscriber is acting, is (i) a resident of, or the purchase and sale of securities to the Subscriber is otherwise subject to the securities legislation of one of the following: British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Newfoundland and Labrador, Nova Scotia, New Brunswick, Prince Edward Island, North West Territories, or Nunavut, and the Subscriber is (and will at the time of acceptance of the Subscription be) an accredited investor within the meaning of National Instrument 45-106 Prospectus and Registration Exemptions ("NI 45-106") because the Subscriber is one of the following:
| (a) | a Canadian financial institution, or a Schedule III bank; |
| (b) | the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada); |
| (c) | a subsidiary of any person referred to in paragraphs (a) or (b), if the person owns all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary; |
| (d) | a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer, other than a person registered solely as a limited market dealer under one or both of the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador); |
| (e) | an individual registered or formerly registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (d); |
| (f) | the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada; |
| (g) | a municipality, public board or commission in Canada and a metropolitan community, school board, the Comité de gestion de la taxe scolaire de l'île de Montréal or an intermunicipal management board in Québec; |
| (h) | any national, federal, state, provincial, territorial or municipal government of or in any foreign jurisdiction, or any agency of that government; |
| (i) | a pension fund that is regulated by the Office of the Superintendent of Financial Institutions (Canada), a pension commission or similar regulatory authority of a jurisdiction of Canada; |
| (j) | an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000; |
| (k) | an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year; (Note: If individual accredited investors wish to purchase through wholly-owned holding companies or similar entities, such purchasing entities must qualify under section (t) below, which must be initialled.) |
| (l) | an individual who, either alone or with a spouse, has net assets of at least $5,000,000; |
| (m) | a person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements; |
| (n) | an investment fund that distributes or has distributed its securities only to:
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| (o) | an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the regulator or, in Québec, the securities regulatory authority, has issued a receipt; |
| (p) | a trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust company or trust corporation, as the case may be; |
| (q) | a person acting on behalf of a fully managed account managed by that person, if that person:
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| (r) | a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded; |
| (s) | an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) or paragraph (i) in form and function; |
| (t) | a person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors; |
| (u) | an investment fund that is advised by a person registered as an adviser or a person that is exempt from registration as an adviser, or; |
| (v) | a person that is recognized or designated by the securities regulatory authority or, except in Ontario and Québec, the regulator as an accredited investor. |
Toronto, Ontario M5J 2J1 Canada