TORONTO, April 1 /CNW/ - Scotia Asset Management L.P. today announced a
portfolio advisor change to the Pinnacle American Value Equity Fund.
Effective on or about April 29, 2011, Herndon Capital Management, LLC
(Herndon Capital) will become portfolio advisor for Pinnacle American
Value Equity Fund, replacing the current portfolio advisor. Founded in
2001, Herndon (formerly Atlanta Life Investment Advisors, LLC) is an
institutional investment management firm specializing in large
capitalization equity strategies. The firm manages approximately $3.0
billion in total institutional client assets, with $2.2 billion in
large cap value assets under management*, and each investment principal
has an ownership stake in the firm.
Scotia Asset Management's rigorous manager selection process leverages
the global research capabilities of our partner Northern Trust, in
identifying and evaluating best in class investment managers for the
Pinnacle Funds. Herndon Capital's strong track record of value
investing and proven team of investment professionals joins an already
strong lineup of portfolio advisors to the Pinnacle Funds. There will
be no change to the investment objective of Pinnacle American Value
Equity Fund as a result of the portfolio advisor change.
The Pinnacle Funds are a family of investment pools offered and managed
by Scotia Asset Management L.P. and available exclusively through
ScotiaMcLeod, a division of Scotia Capital Inc., a wholly-owned
subsidiary of, and separate entity from, The Bank of Nova Scotia.
Scotia Asset Management L.P. is The Bank of Nova Scotia's wholly owned
manager of investment solutions for private clients, institutional
clients, managed asset programs and mutual funds.
Scotia Asset Management L.P. is wholly-owned, directly and indirectly,
by The Bank of Nova Scotia. Scotiabank is one of North America's
premier financial institutions and Canada's most international bank.
With more than 70,000 employees, Scotiabank Group and its affiliates
serve some 18.6 million customers in more than 50 countries around the
world. Scotiabank offers a broad range of products and services
including personal, commercial, corporate and investment banking. With
assets above $541 billion (as at January 31, 2011), Scotiabank trades
on the Toronto (BNS) and New York Exchanges (BNS). For more information
please visit www.scotiabank.com.
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of
investment management, asset and fund administration, banking solutions
and fiduciary services for corporations, institutions and affluent
individuals worldwide. Northern Trust, a financial holding company
based in Chicago, has offices in 18 U.S. states and 16 international
locations in North America, Europe, the Middle East and the
Asia-Pacific region. As of December 31, 2010, Northern Trust had assets
under custody of US$4.1 trillion, and assets under investment
management of US$643.6 billion. For 121 years, Northern Trust has
earned distinction as an industry leader in combining exceptional
service and expertise with innovative products and technology. For more
information, visit www.northerntrust.com.
* As at February 28, 2011.
For further information:
Robyn Harper, Scotiabank Media Communications, (416) 933-1093, email@example.com