TORONTO, Jan. 24, 2013 /CNW/ - Scotia Asset Management L.P. today announced
portfolio advisor changes to Scotia Private Income Pool and Scotia Private
U.S. Mid Cap Growth Pool.
Effective on or about April 22, 2013, Beutel Goodman & Company Ltd. ("Beutel
Goodman") is scheduled to become portfolio advisor for Scotia Private Income
Pool, replacing the current portfolio advisor. Founded in 1967, Beutel Goodman
specializes in applying a value approach to the management of Canadian and
non-domestic equities in addition to managing global equity, balanced and
fixed income mandates. The firm's core fixed income style is active and
seeks to add value through management of duration, yield curve and credit
risk. Beutel Goodman is based in Toronto, serves both institutional and
individual investors, and manages approximately $31 billion in assets as at
September 30, 2012.
Effective on or about April 22, 2013, William Blair & Company L.L.C. ("William
Blair") is scheduled to become portfolio advisor for Scotia Private U.S. Mid
Cap Growth Pool, replacing the current portfolio advisor. Founded in 1935,
William Blair is a global investment banking and asset management firm with
approximately $47 billion in assets under management as of September 30, 2012.
The firm manages money for institutional, private and mutual fund investors
across geographies and asset classes, drawing on an investment-centric
culture, deep intellectual capital and disciplined research processes. An
independent and employee-owned firm, William Blair is based in Chicago and has
offices on four continents. Partnership-focused, we are committed to
delivering a disciplined, fundamental, research-driven approach to investing
to create long-term sustainable value with proven, actively managed investment
Scotia Asset Management L.P.'s manager selection process leverages the global
research capabilities of investment management consultantconsultant, NT Global
Advisors, Inc. a Northern Trust Corporation affiliate, in identifying and
evaluating best in class investment managers for Scotia Private Pools. Beutel
Goodman and William Blair's strong track record and proven team of investment
professionals joins an already strong lineup of portfolio advisors to the
Scotia Private Pools.
There will be no change to the investment objective of Scotia Private Income
Pool or Scotia Private U.S. Mid Cap Growth Pool as a result of the portfolio
Scotia Private Pools are a family of investment pools offered and managed by
Scotia Asset Management L.P. They are available through ScotiaMcLeod, a
division of Scotia Capital Inc., a wholly-owned subsidiary of, and separate
entity from, Scotiabank, and Scotia Private Client Group. Scotia Private
Client Group consists of private client services from Scotiabank, The Bank of
Nova Scotia Trust Company, Scotia Asset Management L.P., Scotia Asset
Management U.S. Inc., Scotia McLeod Financial Services Inc., WaterStreet
Family Capital Counsel Inc., and ScotiaMcLeod. Scotia Capital Inc. is a member
of the Canadian Investor Protection Fund and the Investment Industry
Regulatory Organization of Canada.
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.
About Scotia Asset Management
Scotia Asset Management L.P. is wholly-owned, directly and indirectly, by
Scotiabank and is a manager of investment solutions for private clients,
institutional clients, managed asset programs and mutual funds.
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. In December
2012, Scotiabank became the first Canadian bank to be named Global Bank of the
Year and Bank of the Year in the Americas by The Banker magazine, a Financial
Times publication. With assets of $668 billion (as at October 31, 2012),
Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more
information please visit www.scotiabank.com.
This press release contains forward-looking information. The forward-looking
information contained in this press release is not historical information but
reflects the Fund's current intentions or expectations regarding future
events. The forward looking information is subject to risks, uncertainties and
other factors that could influence actual events and cause them to differ
materially from current intentions or expectations. The forward-looking
information contained in this press release constitutes the current intention
of Scotia Asset Management L.P. and the funds, as of the date of this press
release, with respect to the matters covered hereby. Investors and others
should not assume that any forward-looking information contained in this press
release represents the an intention as of any date other than the date of this
press release and are cautioned not to place undue reliance on such
information due to the inherent uncertainty therein. Except where required by
under applicable securities legislation, Scotia Asset Management L.P. and the
funds do not undertake to update any forward looking information.
For media inquiries: Diana Hart P: 416 866 7238 E:firstname.lastname@example.org
SOURCE: Scotiabank - Products & Services
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