Mr. Devinder Lamsar reports
SCOTIAFUNDS(R) ANNOUNCES PORTFOLIO ADVISOR CHANGE
Bank of Nova Scotia's ScotiaFunds, managed by 1832 Asset Management LP, has made a portfolio adviser change to Scotia U.S. Low Volatility Equity LP.
Effective Aug. 4, 2015, LSV Asset Management will become portfolio adviser to the fund, replacing the former adviser. Formed in 1994, LSV is a quantitative value equity manager, providing active management for institutional investors through the application of proprietary investment models. LSV manages approximately $90-billion in value equity portfolios for approximately 350 clients as of March 31, 2015.
The manager uses a portfolio adviser selection process that leverages the global research capabilities of investment management consultant NT Global Advisors Inc., a Northern Trust Corp. affiliate, in aiming to identify and evaluate best-in-class investment managers.
Earlier this month, the former portfolio adviser ceased servicing the fund. The manager assumed full portfolio adviser responsibility and will continue to do so until LSV's appointment is effective.
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