TORONTO, Jan. 11 /CNW/ - ScotiaFunds(TM) today announced the launch of Scotia INNOVA Portfolios(TM) Class T - a professionally managed income solution for investors with non-registered assets exceeding $50,000. Scotia INNOVA Portfolios Class T combine consistent monthly cash flow and the potential for greater tax efficiency with the same convenience, exclusive investment management and comprehensive diversification of ScotiaFunds' highly successful Scotia INNOVA Portfolios.

"ScotiaFunds continues to broaden our product offerings with customized solutions for a wide range of investors," said Glen Gowland, President and CEO, Scotia Asset Management. "Scotia INNOVA Portfolios Class T address the growing need for predictable distributions for investors nearing or in retirement. With interest rates at historical lows, the Portfolios offer investors regular income that might otherwise be difficult to achieve in today's low interest rate environment."

Scotia INNOVA Portfolios Class T provide investors access to three portfolios each with a distinct target monthly distribution.

-   Scotia INNOVA Income Portfolio Class T
    -   Scotia INNOVA Balanced Income Portfolio Class T
    -   Scotia INNOVA Balanced Growth Portfolio Class T

The cash flow strategy of each Class T Portfolio is aligned against its growth potential in order to better sustain investors' long-term cash flow needs.

Under the ScotiaFunds name, Scotia Asset Management L.P. provides a broad range of 33 mutual funds and 21 professionally managed portfolios. ScotiaFunds are available from Scotia Securities Inc., through domestic Scotiabank branches, ScotiaMcLeod Direct Investing, ScotiaMcLeod, as well as leading investment dealers, independent brokers, advisors and financial planners.

Scotia Asset Management L.P. is wholly-owned, directly and indirectly, by The Bank of Nova Scotia. Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 68,000 employees, Scotiabank Group and its affiliates serve approximately 14.6 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With more than $496 billion in assets (as at October 31, 2009), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

(TM) Trademarks of The Bank of Nova Scotia, used under license.