|By Marketwired .||
|February 4, 2014 01:55 PM EST||
TORONTO, ON--(Marketwired - February 04, 2014) - Scotia Private Client Group announced today the launch of Scotia Floating Rate Income Fund -- Series M and Scotia Mortgage Income Fund -- Series M, available through Private Investment Counsel. The funds are intended for clients who are looking for lower volatility and a greater degree of capital preservation when compared to more traditional bond funds. 1832 Asset Management L.P. is the manager of the funds.
"At Scotia Private Client Group we continue to put a strong emphasis on evolving our investment platform so that we have the right tools to deliver well-crafted client portfolios in varying economic and interest rate environments," said Mario Causarano, Managing Director, Private Investment Counsel, Scotia Private Client Group. "The new additions will help broaden our fixed income offering and provide our clients with additional strategies to help manage interest rate risk and preserve capital."
Scotia Floating Rate Income Fund is managed by Marc-André Gaudreau, Vice President and Portfolio Manager at 1832 Asset Management L.P. The fund seeks to provide interest income and protect against the effects of interest rate fluctuations by investing in North American investment grade, short-term corporate bonds and floating rate notes. The fund may enter into interest rate swaps to minimize interest rate risk and deliver a floating rate of income.
Scotia Mortgage Income Fund is managed by Kevin Pye, Vice President and Portfolio Manager at 1832 Asset Management L.P. The fund provides exposure to a specialty asset class by holding primarily high quality mortgages on residential properties in Canada. It seeks to provide regular interest income and is focused on investing in short term mortgages, which provide the potential for less sensitivity to interest rate changes.
"With the prospect of further interest rate increases, incorporating these two funds into a fixed income portfolio may provide attractive total return potential while maintaining defensive portfolio characteristics," said Wes Mills, Chief Investment Officer, Scotia Private Client Group. "The funds are part of our strategic effort at Scotia Private Client Group to introduce specialty fixed income solutions intended to better manage interest rate sensitivity and preserve capital in client portfolios, while maintaining an adequate level of income."
About Scotia Private Client Group
Scotia Private Client Group helps affluent clients build, preserve and transfer their wealth by offering integrated and personalized wealth management strategies that incorporate investment management, estate and trust services and private banking.
Scotia Private Client Group consists of private client services offered by The Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, 1832 Asset Management L.P., 1832 Asset Management U.S. Inc., ScotiaMcLeod Financial Services Inc., WaterStreet Family Offices, a division of 1832 Asset Management L.P., and ScotiaMcLeod, a division of Scotia Capital Inc. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.
About 1832 Asset Management L.P.
1832 Asset Management L.P. offers a range of wealth management solutions, including mutual funds, investment solutions for private clients, institutional clients and managed asset programs. 1832 Asset Management L.P. is a limited partnership, the general partner of which is wholly owned by Scotiabank.
Scotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Through our team of more than 83,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking to over 21 million customers. With assets of $744 billion (as at October 31, 2013), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information please visit www.scotiabank.com.
E: [email protected]
Jun. 30, 2015 12:30 PM EDT Reads: 1,742
Jun. 30, 2015 10:30 AM EDT Reads: 1,830
Jun. 30, 2015 10:20 AM EDT Reads: 364
Jun. 30, 2015 10:15 AM EDT Reads: 709
Jun. 30, 2015 09:45 AM EDT Reads: 761
Jun. 30, 2015 09:15 AM EDT Reads: 714
Jun. 30, 2015 09:00 AM EDT Reads: 704
Jun. 30, 2015 08:45 AM EDT Reads: 657
Jun. 30, 2015 08:30 AM EDT Reads: 948
Jun. 30, 2015 08:30 AM EDT Reads: 2,345
Jun. 30, 2015 08:30 AM EDT Reads: 1,938
Jun. 29, 2015 06:00 PM EDT Reads: 1,769
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
Jun. 29, 2015 03:00 PM EDT Reads: 2,272
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust...
Jun. 29, 2015 12:15 PM EDT Reads: 2,589
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along...
Jun. 29, 2015 12:00 PM EDT Reads: 2,135