(November 8) – Scotia Securities has launched the Scotia International Stock Index Fund and Scotia Canadian Bond Index Fund. These two new funds are both 100% RRSP eligible and are designed for long-term investors wishing to diversify their portfolios.
The first of the new funds, the Scotia International Stock Index is designed specifically to take advantage of the potential of foreign markets. Through futures contracts and money market instruments, the fund will invest in stock market indices in Europe, Australia and the Far East.
The second fund, the Scotia Canadian Bond Index fund, will generate income by tracking the Scotia Capital Markets Universe Bond Index – Canada’s leading bond index and a benchmark for many mutual, pooled and pension funds.
Portfolio advisors on the two funds will be Scotia Cassels Investment Counsel Limited, one of Canada largest personal money management companies. Sub-advisory services for the Scotia Canadian Bond Index will be provided by Scotia Capital Inc. and Barclays Global Investors Canada Ltd. will act as sub-advisors on the Scotia International Stock Index Fund.
In another move to take advantage of foreign markets, Scotia Securities announced changes to its asset allocation portfolios. On long-term RRSP portfolios, foreign exposure will be increased up to 45%, more than double the current 20%.
-IE Staff
For more please see:
www.scotiabank.ca