Series NBA and Series NBF of three funds will no longer exist while Series NBA will also no longer apply on one other fund
The bank’s subsidiary, 1832 Asset Management, will become portfolio advisor to Scotia Global Balanced Fund, Scotia U.S. Dividend Fund and Scotia Global Dividend Fund
The funds were developed for conservative clients and pre-retirees who seek relatively high returns but with lower risks
The new arrangement will result in a suite of new investment products that will draw on Morningstar’s “extensive, proprietary investment research”
The firm has launched Manulife International Equity Private Trust, which presents a new non-North American equity option for investors in Manulife Private Investment Pools
David Arpin and Dina DeGeer will be taking on some or all of the management of the funds currently managed by Ashley Misquitta, who is set to leave the firm next week
The two new funds offer clients access to U.S. and global equity strategies without having to worry of how currency fluctuations will affect their returns
Investors will be placed in corresponding continuing funds
The three new series provide flexibility for Canadians who are invested in two specific funds and are looking to hedge their exposure to U.S. currency
Management fees will be reduced on PIMCO Canadian Short Term Bond Fund and PIMCO Canadian Total Return Bond Fund