NBIMC in New Brunswick
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Preamble
The following information outlines the various ways that the NB Investment Management
Corporation (NBIMC) has been able to assist in the development of the financial services
industry and capital markets in the province of New Brunswick.
First and foremost we contribute by providing investment management services, based in
our Fredericton office, that are tailored specifically to the pension funds under our
management. We also provide these pension funds with a management fee advantage of
approximately one third that of other alternative external fund managers, while at the
same time ensuring that a significant portion of these costs are also spent and taxed
within the Province versus being transferred to other international investment
management centers.
A number of other benefits have also accrued to the Province from our operations. Other
than the development of over forty highly skilled knowledge based jobs in the Province,
there have been a number of other benefits that have arisen from our governing
legislation.
For example we are one of the only Canadian institutional pension fund managers who
have consciously designed a separate investment portfolio in which to evaluate local
investment opportunities.
It is very important to point out however that all of the actions of NBIMC are
conducted in a fiduciary fashion and only within the best interest of the funds
under management.
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