From 1998 to 2002 Nova Bancorp's primary business was StrategicNova Inc., a mutual fund company based in Montreal.  In 2002 its assets under management were $2.1 billion. 

Three of its best known funds were the Canadian technology fund managed by Duncan Stewart, the high yield bond fund managed by Barry Allan and the Canada Dominion flow-through limited partnerships managed by Norm Lamarche. In 2002 StrategicNova merged with Dundee Wealth Management Inc.

Nova Bancorp Alternative Investment Products (formerly Rhone Alternative Investment Products) was established in 2004.  Since then it has raised over $80 million for investment in Canadian resource companies.