Scotia Securities Inc. is proposing to merge four mutual funds into four other funds, and to appoint new portfolio advisors.

“These proposed changes have been developed to improve our mutual fund products and services for our clients,” said Karen Fisher, president and CEO of Scotia Securities Inc. and head of Managed Assets for Scotiabank Group. “The merger of similar funds will generate greater operating efficiencies through economies of scale, while the change in portfolio managers demonstrates our vigilance in ensuring that our unitholders receive the best portfolio management possible.”

Effective September 18, Scotia International Growth Fund will be renamed Scotia Global Growth Fund.

Subject to unitholder approval, Scotia proposes five other changes. Scotia Canadian Short-Term Income Fund will merge into Scotia Mortgage Income Fund. Scotia Global Income Fund will merge into Scotia CanGlobal Income Fund. Scotia Canadian Mid-Large Cap Fund will merge into Scotia Canadian Blue Chip Fund. Scotia Emerging Markets Fund will merge into Scotia Latin American Growth Fund. Scotia Precious Metals Fund will be renamed Scotia Resource Fund and given broader investment objectives.

If approved by unitholders, the proposed mergers and the change to the name and investment objectives of Scotia Precious Metals Fund will take effect after the close of business on or about November 30.

Several funds will also see changes to their portfolio advisor.

Effective September 18, Scotia Cassels Investment Counsel Ltd. will become portfolio advisor to Scotia Canadian Growth Fund, replacing Montrusco Bolton Inc. Also effective September 18, Barclays Global Investors Canada Ltd. will become portfolio advisor to Scotia Canadian Bond Index Fund, Scotia Canadian Stock Index Fund, Scotia American Stock Index Fund, and Scotia International Stock Index Fund, replacing Scotia Cassels Investment Counsel Ltd.

Effective August 17, Scotia Capital Inc. will be appointed manager of the Copilot Account and Destination Account within the Scotia Asset Allocation Services, replacing Scotia Cassels Investment Counsel Ltd.