Scotia Securities Inc. announced that proposals to change certain Scotia Mutual Funds were approved by unitholders at special meetings held on April 5 in Toronto.

“We are pleased that unitholders voted in favour of the changes, which will result in a more streamlined and diversified fund family for our investors,” said Glen Gowland, acting president and acting CEO, Scotia Securities Inc.

The changes that were approved by unitholders and take effect on or about the close of business on April 20 are as follows:

– Scotia Young Investors Fund will merge into Scotia Global Growth Fund;
– Capital U.S. Small Companies Fund will merge into Capital Global Small Companies Fund. The continuing Capital Global Small Companies Fund will change its investment objective as follows: The fund’s objective is to achieve long-term capital growth. It invests primarily in equity securities of smaller companies located around the world;
– Capital U.S. Large Companies Fund will change its investment objective as follows: The fund’s objective is to achieve long-term capital growth. It invests primarily in equity securities of U.S. companies;
– Capital International Large Companies Fund will change its investment objective as follows: The fund’s objective is to achieve long-term capital growth. It invests primarily in securities of companies located outside of the U.S.; and
– Capital Global Discovery Fund will change its investment objective as follows: The fund’s objective is to achieve long-term capital growth. It invests primarily in a more concentrated portfolio of equity securities of companies located around the world.

The following fund name changes will be made concurrent with the fund mergers and changes to the investment objectives outlined above:

– Capital Global Small Companies Fund will be renamed Scotia Global Small Cap Fund;
– Capital U.S. Large Companies Fund will be renamed Scotia U.S. Value Fund.
– Capital International Large Companies Fund will be renamed Scotia International Value Fund;
– Capital Global Discovery Fund will be renamed Scotia Global Opportunities Fund; and
– Scotia Total Return Fund will be renamed Scotia Canadian Tactical Asset Allocation Fund.