Scotia Asset Management L.P. announced Thursday that Scotia Private Cyclical Opportunities Pool will be terminated on or about December 31. Effective immediately, the fund has ceased distributing its units.
Fund holdings may be redeemed or switched on or prior to the termination date. For unitholders in the fund with a discretionary portfolio manager at Scotia Asset Management, their portfolio manager will redeem their investment prior to the closing date and pay the proceeds of the redemption to their account on their behalf. The portfolio manager will then reinvest such proceeds in a manner consistent with the client’s portfolio objective. Any remaining unitholders will have their units redeemed and the redemption proceeds will be paid out to the unitholder’s account. No fees or charges will be applied to unitholders upon redemption of their units or the termination of the fund.
The Scotia Private Pools are a family of investment pools offered and managed by Scotia Asset Management L.P. and are selectively available through Scotia Private Client Group.