Scotia Private Client Group Tuesday announced the launch of Scotia Long Short Equity Fund, the first alternative investment product available through its Private Investment Counsel.
The new fund provides accredited investors with the ability to limit downside risk and volatility while participating in the upside potential of equity markets.
“Scotia Private Client Group continues to strategically expand our investment platform to meet the needs of high net worth investors, says Richard McIntyre, managing director and head, Scotia Private Client Group. “The addition of alternative investments underscores our commitment to continually look for innovative strategies to help meet our clients’ evolving needs, which include a focus on risk management and capital preservation.”
The new fund is sub-advised by Noah Blackstein, vice president & portfolio manager at Toronto-based GCIC Ltd. Blackstein’s investment history began in 1994 and since that time he has established himself as one of the premier U.S. and global growth fund managers, a reputation that is further strengthened by a seventeen-year track record of success and numerous industry awards.
With over a decade of experience managing a long/short strategy, Blackstein employs a conservative approach to long/short investing with a focus on providing absolute returns while protecting capital. He uses a fundamental, bottom-up approach to uncover investment opportunities on both the long and short side of the portfolio. Through active management and controlled market exposure, the fund aims to generate an enhanced risk-adjusted return regardless of the overall direction of the market.
Scotia Private Client Group consists of private client services from The Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, Scotia Asset Management L.P., Scotia Asset Management U.S. Inc., Scotia McLeod Financial Services Inc., WaterStreet Family Capital Counsel Inc., and ScotiaMcLeod, a division of Scotia Capital Inc.