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Scotia GAM announces fund closures

By The IJ Staff | November 08 2018 11:30AM

Scotia Global Asset Management announced this week its intention to close four funds and the Advisor series of 13 other funds. The fund closures are expected to occur on approximately Jan. 25. 

The closed funds are: Pinnacle Growth Portfolio; Pinnacle Income Portfolio; Scotia Conservative Government Bond Capital Yield Class and Scotia Fixed Income Blend Class.

The Advisor Series funds to be closed are:

 

Scotia Balanced Opportunities Fund – Advisor Series

Scotia Canadian Dividend Fund – Advisor Series

Scotia Canadian Growth Fund – Advisor Series

Scotia Canadian Income Fund – Advisor Series

Scotia Diversified Monthly Income Fund – Advisor Series

Scotia Global Growth Fund – Advisor Series

Scotia Global Opportunities Fund – Advisor Series

Scotia International Value Fund – Advisor Series

Scotia Money Market Fund – Advisor Series

Scotia Selected Balanced Growth Portfolio – Advisor Series

Scotia Selected Balanced Income Portfolio – Advisor Series

Scotia Selected Growth Portfolio – Advisor Series

Scotia Selected Maximum Growth Portfolio – Advisor Series

Unitholders of the closed funds or those in the Advisor Series can redeem at any time, stated Scotia GAM in an announcement issued Nov. 5. “Advisor Series unitholders may also reclassify their units into another series of the same fund. In both cases, applicable redemption fees and sales charges payable to us will be waived. On the closure date, any remaining units will be redeemed for cash,” says Scotia GAM.

Unitholders will receive a notice by mail regarding the fund and Advisor Series closures. Unitholders should contact their financial advisors for more information on the matter, advises Scotia GAM.

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