TORONTO, ON -- (Marketwired) -- 08/12/16

ScotiaFunds today announced portfolio advisor changes to Scotia Global Balanced Fund, Scotia U.S. Dividend Fund and Scotia Global Dividend Fund ("the Funds"). 1832 Asset Management L.P. ("1832 Asset Management") is the manager of the Funds and effective immediately, 1832 Asset Management will become portfolio advisor for Scotia Global Balanced Fund, Scotia U.S. Dividend Fund and Scotia Global Dividend Fund, replacing the current portfolio advisor. There will be no change to the investment objective of the Funds as a result of the portfolio advisor change.

"1832 Asset Management is increasingly focused on growing its capacity, expertise, and portfolio management bench strength across a broad spectrum of asset classes and strategies," said Neil Macdonald, Managing Director, ScotiaFunds. "Over the past few years, the firm has made a significant investment in expanding its fixed income and global equity expertise. The portfolio advisor changes announced today reflect ScotiaFunds' commitment to leverage 1832 Asset Management's internal capabilities and expertise to deliver appropriate risk-adjusted returns for investors."

About ScotiaFunds

ScotiaFunds are a division of 1832 Asset Management L.P., which offers a range of wealth management solutions, including mutual funds, and 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.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Mutual funds are not guaranteed or insured by the Canada Deposit Insurance Corporation or any other government deposit insurer, their values change frequently and past performance may not be repeated.

About Scotiabank

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 89,000 employees and assets of $895 billion (as at April 30, 2016), 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 and follow us on Twitter @ScotiabankViews.

For media enquiries only:
Debra Chan
Public, Corporate and Government Affairs
Scotiabank
(416) 866-6443
debra.chan@scotiabank.com