Scotia Institutional Asset Management launches new credit absolute return fund

TORONTO, June 5, 2017 /CNW/ - Scotia Institutional Asset Management today announced the launch of the Scotia Institutional Credit Absolute Return Fund (the "SICAR Fund").  The SICAR Fund is designed to maximize absolute returns over a complete market cycle through investment in diversified long and short positions, investing primarily in North American fixed income and credit markets while seeking to mitigate volatility and interest rate risk. It will be managed in a flexible manner using investment strategies and instruments beyond the reach of a traditional mutual fund, with the goal of generating absolute returns in excess of 90-day Treasury Bills in Canada.

"The SICAR Fund is an investment solution designed to meet the evolving needs of our institutional and private client investors," said Glen Gowland, Senior Vice President & Head of Asset Management, Scotiabank. "The SICAR Fund will enable our clients to bolster their more traditional portfolios with a complementary, uncorrelated alternative absolute return strategy." 

In the current market environment of low interest rates and market uncertainty, Canadian institutional and high net worth investors require alternative investment solutions that offer greater potential sources of returns.

The SICAR Fund provides institutional and private client investors access to a credit absolute return strategy, which the Scotia Institutional Asset Management investment team has managed for over three years. This strategy is intended to navigate a rising rate environment and while seeking to perform in absolute positive terms in up and down markets.   

About Scotia Institutional Asset Management

Scotia Institutional Asset Management is a division of 1832 Asset Management L.P.  1832 Asset Management L.P. is a limited partnership, the general partner of which is wholly owned by The Bank of Nova Scotia.

For more information, please visit www.scotiainstitutional.com  

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of $887 billion (as at January 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

Commissions, management fees and expenses all may be associated with investing in the SICAR Fund. Please read the confidential offering memorandum before investing. The SICAR Fund is not guaranteed, its value may change frequently and past performance may not be repeated

 

SOURCE Scotiabank

For further information: For media enquiries only: Debra Chan, Public, Corporate and Government Affairs, Scotiabank, (416) 866-6443, debra.chan@scotiabank.com

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