Scotia Private Client Group launches Scotia Private Corporate Class Pools for high net worth clients

A tax-efficient and investment growth strategy for non-registered assets

TORONTO, July 5, 2012 /CNW/ - Scotia Private Client Group today announced the launch of Scotia Private Corporate Class Pools - a new investment solution geared to high net worth Canadians looking to build wealth by deferring and minimizing the taxes they pay on non-registered investments. This follows the launch earlier this month of Scotia Corporate Class Funds, a retail-focused tax-smart solution available through Scotiabank branches.

"The funds within Scotia Private Corporate Class Pools were specially selected to meet the needs of our high net worth clients who typically favour a more conservative investment approach," said Tuula Jalasjaa, Managing Director and Head, Investment Management Distribution at Scotia Private Client Group. "Our new offering will form part of an already strong base of customized solutions that will now include both tax-efficient fixed income investing and greater flexibility."

Under the management of Scotia Asset Management, each fund within Scotia Private Client Group Pools will be offered as a separate class of shares within the corporation. Investors can switch from one class of shares to another without triggering an immediate taxable event. To reflect the investment style of high net worth Canadians, fixed income as well as conservative dividend mandates feature prominently in the fund line-up:

  • Scotia Private U.S. Equity Class
  • Scotia Private U.S. Dividend Class
  • Scotia Private Canadian Equity Class
  • Scotia Canadian Dividend Class
  • Scotia Canadian Corporate Bond Capital Yield Class
  • Scotia Conservative Government Bond Capital Yield Class
  • Scotia Short Term Yield Class

"Managing the impact of taxes on investment returns is an important consideration for high net worth Canadians who have maxed out their RRSP and TFSA limits and have additional taxable wealth," added Ms. Jalasjaa. "Scotia Private Corporate Class Pools meets the needs of this investor segment looking for a tax-efficient income investing strategy, with tax-deferred switching, rebalancing and the potential for smaller taxable distributions."

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 mutual funds.

About Scotiabank

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 80,000 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. With assets of $660 billion (as at April 30, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

SOURCE Scotiabank - Products

For further information:

Patty Stathokostas
Scotiabank
Phone: 416 866 3625
Email: patty.stathokostas@scotiabank.com


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