TORONTO, Nov. 28, 2012 /CNW/ - Scotia Asset Management L.P. announced today
the launch of six new mutual funds, including four new core mandates to Scotia
Corporate Class Funds and two new mutual fund trusts to ScotiaFunds, to build
on the success of its popular managed asset and dividend solutions.
"When we launched the Scotia Corporate Class Fund structure in May 2012, we
took a unique approach by offering a small number of core products," said Neil
Macdonald, Chief Executive Officer, Scotia Asset Management L.P. "We have
realized tremendous initial momentum with over $400 million in assets to date
and are carefully building on the early success of this tax smart solution
with the launch of four asset class bundles."
Scotia Corporate Blend Class Funds
The four new bundles are Scotia Fixed Income Blend Class, Scotia Canadian
Equity Blend Class, Scotia U.S. Equity Blend Class and Scotia International
Equity Blend Class. These new funds provide shareholders of Scotia Corporate
Class Inc., the mutual fund corporation offering the Scotia Corporate Class
Funds, with more choice for non-registered assets and add further depth and
breadth to the corporation. Each new fund is comprised of a diversified mix of
mutual funds from a single asset class using ScotiaFunds, Dynamic Funds,
Scotia Private Pools and CI Investments.
Mr. Macdonald then said, "These new tax-efficient options combine the
complementary portfolio management expertise of some of Canada's leading
investment organizations into four bundles within a single corporate class
Scotia Selected Income Portfolio & Scotia U.S. Dividend Fund
"In addition to the focus on tax-efficient returns, Canadian investors are
embracing more conservative investment solutions that offer the opportunity
for capital appreciation and income potential with less downside risk," added
Mr. Macdonald. "Scotia Selected Income Portfolio and Scotia U.S. Dividend
Fund, the two new mutual fund trusts launched today, are the latest additions
to an already strong base of core ScotiaFund investment solutions."
Scotia Selected Income Portfolio expands on the success of Scotia Selected
Portfolios, which has combined assets under management exceeding $2.1
billion. Scotia Selected Portfolios strategically combine the best of
ScotiaFunds, Dynamic Funds and CI Investments, into powerful portfolio
combinations. The new income-focused mandate targets a 75 per cent allocation
to income-yielding investments, which includes allocations to corporate and
high yield bonds, real estate and infrastructure investments.
A U.S.-focused take on the successful Scotia Canadian Dividend Fund, Scotia
U.S. Dividend Fund is managed by Alan Radlo, portfolio manager and Chief
Investment Officer of CI Global Investments Inc., a wholly owned subsidiary of
CI Investments Inc., the sub-advisor to the fund and one of Canada's most
respected investment management firms. Mr. Radlo has 28 years of experience
in the investment industry and a successful track record in managing U.S.
About Scotia Asset Management
Scotia Asset Management L.P. manages investment solutions for private clients,
institutional clients, managed asset programs and mutual funds. Under the
ScotiaFunds® brand, Scotia Asset Management L.P. provides a broad range of 58
mutual funds and 28 professionally managed portfolios. ScotiaFunds are
managed by Scotia Asset Management L.P., a limited partnership wholly-owned
directly and indirectly by The Bank of Nova Scotia. ScotiaFunds are
available through Scotia Securities Inc., and from other dealers and advisors
including ScotiaMcLeod® and Scotia iTRADE® which are divisions of Scotia
Capital Inc. (member Canadian Investor Protection Fund). Scotia Securities
Inc. and Scotia Capital Inc. are corporate entities separate from, although
wholly owned by, The Bank of Nova Scotia.
Commissions, trailing commissions, management fees and expenses all may be
associated with mutual fund investments. Please read the simplified prospectus
before investing. Mutual funds are not guaranteed, their values change
frequently and past performance may not be repeated.
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 81,000 employees, Scotiabank
and its affiliates serve some 19 million customers in more than 55 countries
around the world. Scotiabank offers a broad range of products and services
including personal, commercial, corporate and investment banking. With assets
of $670 billion (as at July 31, 2012), Scotiabank trades on the Toronto (BNS)
and New York Exchanges (BNS). For more information please visit
Diana Hart Scotiabank P: 416-866-7238 E:email@example.com
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-0- Nov/28/2012 17:00 GMT
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