Scotia Securities continues overhaul of Scotia Mutual Funds

Scotia Securities Inc. today announced several comprehensive changes to Scotia Mutual Funds. The changes represent the second stage of a product shelf overhaul that began earlier this year.

“The most recent changes better position our funds to take advantage of current investment opportunities for the benefit of unit holders,” says Glen Gowland, president & CEO, Scotia Securities.

A number of changes to the investment strategies of some funds have been made to allow for either greater flexibility to invest globally or to more clearly define each fund’s investment parameters within its industry category. These changes include expanding or limiting foreign exposure in some of the funds and redefining the fixed income to equity ranges in other funds.

Also, the minimum initial investment for Scotia Global Growth Fund was lowered from $500 to $100. Minimum additional investments, including Pre-Authorized Contributions, for Scotia Global Growth Fund were lowered from $50 to $25. Scotia Global Growth Fund’s new low minimum investment makes it a more accessible investment option for smaller accounts with a long-term focus such as Registered Education Savings Plans (RESPs).

Effective November 1, the trailer fee payable on the Scotia Canadian Dividend Fund will change from a maximum annual rate of 0.50% to a maximum annual rate of 1.10%.

The following name changes have been made to more clearly reflect each fund’s objectives:

• Scotia CanAm U.S. $ Money Market Fund renamed Scotia U.S. $ Money Market Fund;
• Scotia CanAm U.S. $ Income Fund renamed Scotia U.S. $ Bond Fund;
• Scotia CanGlobal Income Fund renamed Scotia Global Bond Fund;
• Scotia American Growth Fund renamed Scotia U.S. Growth Fund;
• Scotia European Growth Fund renamed Scotia European Fund;
• Scotia Pacific Rim Growth Fund renamed Scotia Pacific Rim Fund;
• Scotia Latin American Growth Fund renamed Scotia Latin American Fund;
• Scotia Canadian Stock Index Fund renamed Scotia Canadian Index Fund;
• Scotia American Stock Index Fund renamed Scotia U.S. Index Fund;
• Scotia CanAm Stock Index Fund renamed Scotia CanAm Index Fund;
• Scotia International Stock Index Fund renamed Scotia International Index Fund;
• Scotia Selected Funds renamed Scotia Selected Portfolios;
• Scotia Vision Funds renamed Scotia Vision Portfolios;
• Scotia Selected Conservative Growth Portfolio renamed Scotia Selected Moderate Growth Portfolio; and
• Scotia Partners Conservative Growth Portfolio renamed Scotia Partners Moderate Growth Portfolio.