Scotia Asset Management L.P. Tuesday announced a couple of portfolio advisor changes to its funds.

Scotia European Fund

Effective August 30, Hermes Sourcecap Limited will become portfolio advisor for Scotia European Fund, replacing the current portfolio advisor.

Founded in 2006, Hermes Sourcecap is a boutique asset management company based in London specializing in managing high-alpha, unconstrained European equity portfolios for institutional clients. Hermes Sourcecap manages approximately $1.2 billion in assets and is part of Hermes Fund Managers Ltd., a multi boutique asset manager, which has $40 billion in assets and is 100% owned by the BT Pension Scheme, the largest corporate pension fund in the United Kingdom.

There will be no change to the investment objective of Scotia European Fund as a result of the portfolio advisor change.

Scotia International Equity Fund Manager Class

Scotia also announced that Thornburg Investment Management, Inc. will become sub-advisor for Scotia International Equity Fund Manager Class units, effective August 30.

Scotia Asset Management L.P. will remain the portfolio advisor for the fund. There will be no change to the investment objective of the fund as a result of the portfolio advisor change.

Established in 1982, Thornburg is an employee-owned investment management company headquartered in Santa Fe, New Mexico. The firm manages equity, bond and separately-managed portfolios for select institutions and individuals totaling approximately $57 billion in assets under management.

Appointed portfolio advisor to Scotia Global Opportunities Fund in April 2007, Thornburg continues to strengthen its relationship with Scotia Asset Management through this new partnership.

IE