Toronto-based Bank of Nova Scotia on Thursday announced the addition of four new Scotia Partners Portfolio Class funds to its corporate class lineup. The bank is also incorporating Series T options into certain Scotia Partners trust funds and Innova trust funds.
The new funds are Scotia Partners Balanced Income Portfolio Class, Scotia Partners Balanced Growth Portfolio Class, Scotia Partners Growth Portfolio Class and Scotia Partners Maximum Growth Portfolio Class.
All four funds are available in Series A and Series T and require an initial investment of at least $10,000.
Certain Scotia Partners trust funds and Innova trust funds are now also available with a Series T option, for clients seeking income through their investments.
The affected funds are Scotia Partners Income Portfolio, Scotia Partners Balanced Income Portfolio, Scotia Partners Balanced Growth Portfolio, Scotia Partners Growth Portfolio and Scotia Partners Maximum Growth Portfolio, all of which require a minimum investment of $10,000.
Series T options are also now available through Scotia Innova Growth Portfolio and Scotia Innova Maximum Growth Portfolio, both of which require a minimum investment of $50,000.
“Our goal is to help our clients to grow, preserve and draw an income from their wealth over the long term. For many Canadians, this includes investments held outside their registered plans,” says Neil Macdonald, managing director, ScotiaFunds, in a statement.
“The latest additions to Scotia Corporate Class Funds provide investors with additional choice and flexibility to rebalance, reallocate or draw an income from their non-registered investments in a tax-smart manner,” he adds.
Scotia Funds are managed by Toronto-based 1832 Asset Management L.P.