ScotiaMcLeod announced today that it will wind down its nine Pinnacle RSP funds on Sept. 16, 2005.

With the elimination of the foreign content limits within registered investment plans on June 29, 2005, ScotiaMcLeod terminated the forward contracts used by the Pinnacle RSP funds on July 20, 2005, immediately reducing the costs of the RSP funds and rendering the RSP funds redundant, the company said in a release.

As part of the termination process, effective immediately, ScotiaMcLeod said it will not accept new purchases into the RSP funds. Redemptions will be processed until the termination date, it said.

As the result of these terminations, the company explained that unitholders of each of the following Pinnacle RSP funds will receive a distribution of a pro-rata share of units of the corresponding underlying fund:
– Pinnacle RSP American Core-Plus Bond Fund
– Pinnacle RSP Global Real Estate Securities Fund
– Pinnacle RSP American Value Equity Fund
– Pinnacle RSP American Mid Cap Value Equity Fund
– Pinnacle RSP American Large Cap Growth Equity Fund
– Pinnacle RSP American Mid Cap Growth Equity Fund
– Pinnacle RSP International Equity Fund
– Pinnacle RSP International Small to Mid Cap Value Equity Fund
– Pinnacle RSP Global Equity Fund

Investors are not required to take any action, the company said.