SAM terminates pooled fund

Toronto-based Scotia Asset Management LP (SAM) has announced that Scotia Private Cyclical Opportunities Pool will be terminated on or about Dec. 31. Effective immediately, the fund has ceased distributing its units. Fund holdings may be redeemed or switched prior to the termination date. For unitholders with a discretionary portfolio manager at SAM, their portfolio manager will redeem their investment prior to the closing date and pay out the proceeds of the redemption to their accounts on their behalf. The portfolio manager then will reinvest such proceeds in a manner consistent with each client’s portfolio objective. Any remaining unitholders will have their units redeemed and the proceeds will be paid out to the unitholders’ accounts. No fees or charges will be applied to unitholders upon redemption of their units or the termination of the fund.

(cohara@investmentexecutive.com).