Mr. Devinder Lamsar reports
SCOTIAFUNDS(R) ANNOUNCES UPCOMING INVESTMENT OBJECTIVE CHANGE AND OTHER CHANGES
Bank of Nova Scotia's ScotiaFunds is proposing to change the investment objective of the Scotia U.S.-dollar Bond Fund to broaden it and allow it to invest in bonds and treasury bills that are denominated in U.S. dollars and issued by governments, corporations or supranational entities around the world. ScotiaFunds is managed by 1832 Asset Management LP. The manager believes the interests of unitholders will be better served by modifying the language in the investment objective of the fund to improve portfolio diversification and liquidity.
A special meeting of unitholders, is expected to be held on or about Aug. 27, 2015, to consider the proposed change. The record date for the purpose of determining which unitholders are entitled to receive notice and vote at the special meeting will be the close of business on or about July 17, 2015. The information circular containing a complete description of the matter to be considered at the special meeting will be sent to unitholders shortly thereafter. The change is subject to the receipt of all necessary approvals.
Other changes
Scotia funds adviser series
Effective July 24, 2015, the manager will lower the management fee on the adviser series of the funds in the attached table.
Fund New Current
management fee management fee
Scotia Diversified Monthly Income Fund 1.25% 1.50%
Scotia Balanced Opportunities Fund 1.75% 1.95%
Scotia Canadian Dividend Fund 1.50% 1.75%
Scotia Canadian Growth Fund 1.85% 1.95%
Scotia Selected Balanced Income Portfolio 1.60% 1.80%
Scotia Selected Balanced Growth Portfolio 1.75% 1.95%
Scotia Selected Growth Portfolio 1.90% 2.10%
Scotia Selected Maximum Growth Portfolio 2.10% 2.20%
The manager has capped all adviser series on Scotia funds to new purchases. All Scotia funds with an adviser series are available for purchase in an equivalent no-load Series A version.
Scotia CanAm Index Fund
Effective July 24, 2015, the manager will be lowering the fixed administration fee on Series A and Series F of the Scotia CanAm Index Fund to 0.17 per cent and capping the fund to new purchases.
Scotia Short Term Yield Class
The manager also announced that Scotia Short Term Yield Class will be terminated on or about July 20, 2015. Effective immediately, the fund has ceased distributing its shares.
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