ScotiaFunds Introduces the Next Evolution in Managed Portfolios

    TORONTO, Jan. 19 /CNW/ - ScotiaFunds is pleased to announce the launch of
Scotia INNOVA Portfolios - a managed portfolio program for investors with
assets exceeding $50,000, looking for an enhanced level of sophistication in
investment management, offered through the simplicity of a single portfolio
    "ScotiaFunds continues to broaden and refine our product offering to
allow customized solutions for a wide range of investors," said Glen Gowland,
President and CEO, ScotiaFunds. "With continued volatility in the marketplace,
we believe Scotia INNOVA Portfolios offer investors strong potential for
return, accompanied by strong downside risk protection.
    "Scotia INNOVA Portfolios present a new opportunity for investors. We are
bringing the exclusive expertise of Scotia Cassels Investment Counsel Ltd, to
a broad range of investors" added Mr. Gowland. "Scotia INNOVA Portfolios offer
greater sophistication, unparalleled diversification and simple execution
through our strong relationship based retail branch network."
    Scotia INNOVA Portfolios provide investors access to five one-ticket
portfolios each with a strategic allocation to individual investment funds
from Scotia Cassels Investment Counsel Private Client funds and the Pinnacle
Program funds.

    -  Scotia INNOVA Income Portfolio
    -  Scotia INNOVA Balanced Income Portfolio
    -  Scotia INNOVA Balanced Growth Portfolio
    -  Scotia INNOVA Growth Portfolio
    -  Scotia INNOVA Maximum Growth Portfolio

    Under the ScotiaFunds name, Scotia Securities Inc. (SSI) provides a broad
range of 32 mutual funds and 21 professionally managed portfolios (including
the new Scotia INNOVA Portfolios). ScotiaFunds are available from SSI, through
domestic Scotiabank branches, ScotiaMcLeod Direct Investing, ScotiaMcLeod, as
well as leading investment dealers, independent brokers, advisors and
financial planners. As at December 31, 2008, SSI was one of the top ten
largest mutual fund companies in Canada, with more than $18 billion in assets.

    Scotia Securities Inc., a wholly-owned subsidiary of Scotiabank.
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With 69,000 employees, Scotiabank Group and
its affiliates serve approximately 12.5 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 $508
billion in assets (as at October 31, 2008), 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)

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