TORONTO, Nov. 1 /CNW/ - Scotia Securities Inc. today announced several
comprehensive changes to Scotia Mutual Funds. The changes represent the second
stage of a product shelf overhaul that began earlier this year with the
addition of five world class portfolio advisors to certain U.S., international
and global fund mandates.
"The most recent changes better position our funds to take advantage of
current investment opportunities for the benefit of unit holders," said Glen
Gowland, President & Chief Executive Officer, Scotia Securities Inc.
Fund Name Changes
The following name changes have been made to more clearly reflect each
- Scotia CanAm U.S. $ Money Market Fund renamed Scotia U.S. $ Money
- Scotia CanAm U.S. $ Income Fund renamed Scotia U.S. $ Bond Fund;
- Scotia CanGlobal Income Fund renamed Scotia Global Bond Fund;
- Scotia American Growth Fund renamed Scotia U.S. Growth Fund;
- Scotia European Growth Fund renamed Scotia European Fund;
- Scotia Pacific Rim Growth Fund renamed Scotia Pacific Rim Fund;
- Scotia Latin American Growth Fund renamed Scotia Latin American Fund;
- Scotia Canadian Stock Index Fund renamed Scotia Canadian Index Fund;
- Scotia American Stock Index Fund renamed Scotia U.S. Index Fund;
- Scotia CanAm Stock Index Fund renamed Scotia CanAm Index Fund;
- Scotia International Stock Index Fund renamed Scotia International
- Scotia Selected Funds renamed Scotia Selected Portfolios;
- Scotia Vision Funds renamed Scotia Vision Portfolios;
- Scotia Selected Conservative Growth Portfolio renamed Scotia Selected
Moderate Growth Portfolio and
- Scotia Partners Conservative Growth Portfolio renamed Scotia Partners
Moderate Growth Portfolio.
Investment Strategy Changes
A number of changes to the investment strategies of some funds have been
made to allow for either greater flexibility to invest globally or to more
clearly define each fund's investment parameters within its industry category.
These changes include expanding or limiting foreign exposure in some of the
funds and redefining the fixed income to equity ranges in other funds.
Purchase Option Change
The minimum initial investment for Scotia Global Growth Fund was lowered
from $500 to $100. Minimum additional investments, including Pre-Authorized
Contributions, for Scotia Global Growth Fund were lowered from $50 to $25.
Scotia Global Growth Fund's new low minimum investment makes it a more
accessible investment option for smaller accounts with a long-term focus such
as Registered Education Savings Plans (RESPs).
Trailer Fee Change
Effective November 1, 2007, the trailer fee payable on the Scotia
Canadian Dividend Fund will change from a maximum annual rate of 0.50 per cent
to a maximum annual rate of 1.10 per cent.
About Scotia Securities Inc.
Scotia Securities Inc. is a wholly-owned subsidiary of Scotiabank, one of
North America's premier financial institutions and Canada's most international
bank. With almost 60,000 employees, Scotiabank Group and its affiliates serve
approximately 12 million customers in some 50 countries around the world.
Scotiabank offers a diverse range of products and services including personal,
commercial, corporate and investment banking. With $407 billion in assets (as
at July 31, 2007), Scotiabank trades on the Toronto (BNS) and New York
Exchanges (BNS). For more information please visit
For further information:
For further information: Paula Cufre, Scotiabank Public Affairs, (416)