Scotia offers two new funds

Scotia Asset Management has launched the Scotia Income Advantage Fund and Scotia U.S. $ Balanced Fund. The two new mutual funds are sub-advised by Goodman & Company, Investment Counsel Ltd.

“These new funds will offer additional choice to income-oriented investors and to those looking for higher growth potential for their U.S. dollar assets,” said Glen Gowland, president and CEO, Scotia Asset Management. “We are also pleased to expand our partnership with the world class investment managers at GCICL and are confident in the team’s ability to deliver continued strong results for unitholders.”

Oscar Belaiche will manage the Income Advantage Fund’s equity component and Michael McHugh will be responsible for the fixed-income portion. The fund seeks to produce regular income and long-term capital growth by investing in a diversified portfolio of fixed-income and income-oriented equity securities. Using a flexible approach to asset allocation that can shift in response to changing economic and market conditions, the fund aims to pay a monthly distribution.

David L. Fingold will manage the equity portion of the U.S. $ Balanced Fund, with McHugh reprising his role as the fixed income manager. The fund seeks to provide long-term capital growth and current income in U.S. dollars. It invests primarily in a combination of fixed income and equity securities that are denominated in U.S. dollars.

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