ScotiaFunds goes with conservative fund

Toronto-based ScotiaFunds, a division of Bank of Nova Scotia, has expanded its fund family with the launch of Scotia Conservative Income Fund. This fund will provide investors with the opportunity to generate income and manage interest rate risk by investing primarily in a diversified blend of conservative fixed-income funds. The new fund will be managed by 1832 Asset Management LP and will focus primarily on underlying funds that invest in fixed-income securities such as: bonds issued by Canadian and U.S. federal, provincial/state and municipal governments; bonds and preferred shares issued by U.S. and Canadian investment-grade corporations and non-investment-grade corporations; and residential mortgages. Advisor commissions for front-end sales are 0%-1%. There’s no deferred or low-load option. Trailing commissions are 0.5%. Management fees are 1.1% for A-class units. Minimum investment is $500.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).