TORONTO, Oct. 28, 2021 /CNW/ - Scotia Global Asset
Management announced today that it has received securityholder
approval at special meetings held on October
28, 2021 to (i) merge (the "Merger") Scotia CanAm Index Fund
(the "Terminating Fund") into Scotia U.S. Equity Index Fund (the
"Continuing Fund"), and (ii) to change the investment objectives of
Scotia International Equity Index Fund and Scotia Nasdaq Index Fund
(together, the "Investment Objective Changes"). Regulatory
approvals for the Merger and Investment Objective Changes have also
been received. The Merger and Investment Objective Changes are
expected to become effective on or about November 8, 2021.
Following the Merger, securityholders of the Terminating Fund
(which has been closed to new and additional purchases since
July 24, 2015) can resume
pre-authorized contributions and/or lump sum purchases in the
Continuing Fund by contacting their advisor or registered dealer.
Effective on the date of the Merger, the Manager will also reduce
the fixed administration fee for Series A, Series D and Series F of
the Continuing Fund from 0.17% to 0.16%. Series I fees of the
Continuing Fund will not be impacted.
The investment objectives of Scotia Nasdaq Index Fund and Scotia
International Equity Index Fund will be amended to permit the funds
to track the performance of their respective reference index
through direct investments through full replication or
optimization, instead of index tracking futures contracts. In
connection with the Investment Objective Changes, the fixed
administration fees of the Funds will be reduced – for Scotia
Nasdaq Index Fund (Series A, D and F units) from 0.23% to 0.22%,
and for Scotia International Equity Index Fund (Series A, D and F
units) from 0.32% to 0.24%. Any fees with respect to Series I units
will not be impacted. In addition, the current reference index of
Scotia International Equity Index Fund will change to the Solactive
GBS Developed Markets ex North America Large & Mid Cap CAD
Index.
Commissions, trailing commissions, management fees and expenses
may be associated with mutual fund investments. Please read the
prospectus of the ScotiaFunds® before investing. Mutual funds are
not guaranteed or insured by the Canada Deposit Insurance
Corporation or any other government deposit insurer. The value of
mutual funds, including ScotiaFunds®, changes frequently and past
performance may not be repeated.
About Scotia Global Asset Management
Scotia Global Asset Management is a business name used by 1832
Asset Management L.P., a limited partnership, the general partner
of which is wholly owned by Scotiabank. Scotia Global Asset
Management offers a range of wealth management solutions, including
mutual funds, ETFs, and investment solutions for private clients,
institutional clients and managed asset programs.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future" we help our customers, their families
and their communities achieve success 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 over 90,000
employees and assets of approximately $1.2 trillion (as
at July 31, 2021), Scotiabank trades on the Toronto Stock
Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For
more information, please
visit http://www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
SOURCE Scotiabank