Tools and publications

To manage your wealth in a manner that suits your objectives, make sure you use all the resources and information we put at your disposal.

Guided Tour of Your Annual Reports

Clear and Concise Information

Two new annual reports* are now issued with your December statement: the Investment Performance Report and the Annual Fees and Compensation Report.

These reports provide you with more information about your investments and ensure greater transparency. Their logical, reader-friendly layout was designed to make it easier for you to track your investment performance and its related costs.

* These reports are provided with your December portfolio statement in paper or electronic format, according to your portfolio statement delivery preference. The first edition of the reports will be produced in December 2016 for distribution in January 2017.

Investment Performance Report

This report outlines the performance of each of the accounts in your investment portfolio over the past year and since the account was opened.

Your investment account’s rate of return reflects the risk level determined according to your investor profile and depends on the investments selected for the account. It is therefore important to stay in touch with your investment advisor, especially if your personal or financial situation has changed in any way. Your advisor can recommend helpful adjustments to make sure your investments are always in line with your goals.


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1. Account Identification

Identifies the account covered by the report and the account’s currency.

2. Market Value Table

Gives an overview of cash flows and market value changes in your account since it was opened and for the previous 12 months.


 N.B. If your account was opened prior to January 1, 2016, the inception date is indicated as January 1, 2016. 

3. Account Progress Chart

Provides a visual overview of certain data from the market value table.

  • The grey bar indicates the net amount invested since the account opening (starting market value + deposits – withdrawals).
  • The blue bar shows the closing market value on December 31 of the year covered by the report.

4. Rate of Return Calculations

Describes the 2 main ways to calculate the rate of return for investments:

  • Calculation of the Time Weighted Rate of Return (TWRR)
  • Calculation of the Money Weighted Rate of Return (MWRR)

The MWRR is useful for calculating the rate of return on your specific portfolio and seeing whether you are on track to achieve your financial goals. The TWRR can be used to compare your results to indexes or other investments. The difference between these methods is how portfolio deposits and withdrawals are taken into consideration: TWRR excludes them from the rate of return calculation but MWRR includes them. As needed, your investment advisor can give you further details about these calculations.

5. General Information

Contains additional information to help you better understand some of the report’s content.


Annual Fees and Compensation Report

This report summarizes the amounts that National Bank Financial received directly (from you) or indirectly (from third parties) during the year in order to provide investment account-related advice and services.

A portion of those amounts is paid as remuneration to your advisor, and the remainder is retained by our firm to maintain your account and provide administrative support. 

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6. Account Identification

Identifies the account covered by the report and the account’s currency.

7. Administrative Fees

Administrative fees associated with the maintenance of your account are broken down into subcategories and are not necessarily related to trading. The applicable fee schedule is sent to you each year with your portfolio statement.

8. Transactions

This section lists amounts such as commissions paid when buying or selling investment products.

9. Fee-Based Services

These amounts represent the predetermined fees for managing your account within a specific mandate or under a program that includes advantages. They are based on your account services agreement.

10. Third Party Remuneration

Third party remuneration is the amount paid to us with regard to investments held in your account. These amounts may include:

  • Compensation paid by the issuer when purchasing investment products with a deferred sales charge structure
  • Trailing commissions paid for the ongoing maintenance of the positions in your account
  • Commissions related to purchasing new issues of securities (starting in 2017)

11. General Information

Contains additional information to help you better understand some of the report’s content.


If you require additional information about your annual reports, please contact your investment advisor.