Scotia Asset Management launches six mutual funds
Scotia Asset Management has launched six mutual funds, including four new core mandates to Scotia Corporate Class Funds and two new mutual fund trusts to ScotiaFunds.
"When we launched the Scotia Corporate Class Fund structure in May 2012, we took a unique approach by offering a small number of core products," says Neil Macdonald, chief executive officer, Scotia Asset Management. "We have realised tremendous initial momentum with over CAD400m in assets to date and are carefully building on the early success of this tax smart solution with the launch of four asset class bundles."
The four new bundles are Scotia Fixed Income Blend Class, Scotia Canadian Equity Blend Class, Scotia US Equity Blend Class and Scotia International Equity Blend Class. These new funds provide shareholders of Scotia Corporate Class Inc, the mutual fund corporation offering the Scotia Corporate Class Funds, with more choice for non-registered assets and add further depth and breadth to the corporation. Each new fund is comprised of a diversified mix of mutual funds from a single asset class using ScotiaFunds, Dynamic Funds, Scotia Private Pools and CI Investments.
Scotia Selected Income Portfolio expands on the success of Scotia Selected Portfolios, which has combined assets under management exceeding CAD2.1bn. Scotia Selected Portfolios combine the best of ScotiaFunds, Dynamic Funds and CI Investments into powerful portfolio combinations. The new income-focused mandate targets a 75 per cent allocation to income-yielding investments, which includes allocations to corporate and high yield bonds, real estate and infrastructure investments.
A US-focused take on the Scotia Canadian Dividend Fund, Scotia US Dividend Fund is managed by Alan Radlo, portfolio manager and chief investment officer of CI Global Investments, a wholly owned subsidiary of CI Investments, the sub-adviser to the fund. Radlo has 28 years of experience in the investment industry and a successful track record in managing US equity portfolios.
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