TORONTO, Aug. 12 /CNW/ - Scotia Asset Management L.P. announced July total net sales of $38.5 million for ScotiaFunds, with long-term net sales of $127 million. Assets under management increased by $3.8 billion, or 18.7 per cent from July 2009.*

Scotia INNOVA Portfolios, Scotia Diversified Monthly Income Fund and Scotia Selected Portfolios were among the top selling funds for the month.

About Scotia Asset Management

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 Canadian 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 $526 billion in assets (as at April 30, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

*Preliminary estimates.