Canadian securities regulatory authorities have granted approvals to permit Scotia Mutual Funds and Pinnacle Program Funds to invest in securities of DundeeWealth Inc.

All investments in DundeeWealth by the funds must be reviewed by an independent board of advisors.

Last month, Bank of Nova Scotia purchased Dundee Bank of Canada, as well as 18% of outstanding shares of DundeeWealth Inc.

Scotia Securities Inc., the manager of Scotia Mutual funds, and Scotia Capital Inc., which managers the Pinnacle Program Funds, are wholly owned subsidiaries of Scotiabank.


http://www.newswire.ca/en/releases/archive/October2007/26/c8342.html