Scotia Global Asset Management has introduced Scotia Low Carbon Funds.
There are three funds in the suite — the Scotia Low Carbon Canadian Fixed Income Fund, Scotia Low Carbon Global Balanced Fund and Scotia Low Carbon Global Equity Fund — all of which are designed for “clients who are looking for investment solutions with a lower carbon footprint,” said Neal Kerr, head of Scotia Global Asset Management (Canada), in a release.
The fixed income fund offers regular income and modest capital gains, while the balanced fund focuses on generating income and long-term capital growth. The equity fund is also designed to provide long-term capital growth.
All three products are sub-advised by Scotiabank subsidiary Jarislowsky Fraser Ltd. and have lower carbon intensity than their benchmark indexes, the release said.
The firm also outlined name changes to six funds that took effect Nov. 6. The strategies of the funds remain the same.
The Scotia Balanced Opportunities Fund is now the Scotia Diversified Balanced Fund; the Scotia Bond Fund is now the Scotia Canadian Bond Fund; the Scotia Canadian Index Fund is now the Scotia Canadian Equity Index Fund; the Scotia European Fund is now the Scotia European Equity Fund; the Scotia International Index Fund is now the Scotia International Equity Index Fund; and the Scotia U.S. Index Fund is now the Scotia U.S. Equity Index Fund.