TORONTO, July 30, 2013 /CNW/ - Scotia Private Client Group today
announced the launch of Scotia Long Short Equity Fund, the first
alternative investment solution available through its Private
Investment Counsel. The new fund provides accredited investors with the
ability to limit downside risk and volatility while participating in
the upside potential of equity markets.
"In today's ever-changing environment, Scotia Private Client Group
continues to strategically expand our investment platform to meet the
needs of high net worth investors, said Richard McIntyre, Managing
Director and Head, Scotia Private Client Group. "We are pleased to
provide this new investment solution to eligible clients. The addition
of alternative investments underscores our commitment to continually
look for innovative strategies to help meet our clients' evolving
needs, which include a focus on risk management and capital
Scotia Long Short Equity Fund is sub-advised by Noah Blackstein, Vice
President & Portfolio Manager at GCIC Ltd. Mr. Blackstein's investment
history began in 1994 and since that time he has established himself as
one of the premier U.S. and global growth fund managers, a reputation
that is further strengthened by a seventeen-year track record of
success and numerous industry awards.
With over a decade of experience managing a long/short strategy, Noah
employs a conservative approach to long/short investing with a focus on
providing absolute returns while protecting capital. He utilizes a
fundamental, bottom-up approach to uncover investment opportunities on
both the long and short side of the portfolio. Through active
management and controlled market exposure, the fund aims to generate an
enhanced risk-adjusted return regardless of the overall direction of
"As part of a diversified portfolio, alternative investments have
historically demonstrated the ability to lower downside risk while
providing more consistent absolute returns," says Wes Mills, Chief
Investment Officer, Scotia Asset Management L.P. "The new fund is an
example of our growing efforts to integrate alternative investments
into portfolio construction and asset allocation."
About Scotia Private Client Group
Scotia Private Client Group helps affluent clients become financially
better off by helping them build, preserve and transfer their wealth.
Scotia Private Client Group creates integrated and personalized wealth
management strategies that incorporate investment management, estate
and trust services and private banking.
Scotia Private Client Group consists of private client services from The
Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, Scotia
Asset Management L.P., Scotia Asset Management U.S. Inc., Scotia McLeod
Financial Services Inc., WaterStreet Family Capital Counsel Inc., and
ScotiaMcLeod, a division of Scotia Capital Inc. Scotia Capital Inc. is
a member of the Canadian Investor Protection Fund and the Investment
Industry Regulatory Organization of Canada. For more information,
please visit www.scotiaprivateclientgroup.com.
About Scotia Asset Management
Scotia Asset Management L.P. is wholly-owned, directly and indirectly,
by The Bank of Nova Scotia and is a manager of investment solutions for
private clients, institutional clients, managed asset programs and
Scotiabank is a leading multinational financial services provider and
Canada's most international bank. With more than 83,000 employees,
Scotiabank and its affiliates serve some 19 million customers in more
than 55 countries around the world. Scotiabank offers a broad range of
products and services including personal, commercial, corporate and
investment banking. In December 2012, Scotiabank became the first
Canadian bank to be named Global Bank of the Year and Bank of the Year
in the Americas by The Banker magazine, a Financial Times publication.
With assets of $754 billion (as at April 30, 2013), Scotiabank trades
on the Toronto (BNS) and New York Exchanges (BNS). For more information
please visit www.scotiabank.com.
For further information: