TORONTO, March 7 /CNW/ - Scotia Asset Management L.P. is pleased to announce a series of changes to the sub advisor or portfolio advisor for a number of mutual fund mandates.

"We are pleased to expand our working relationship with the world class group of investment managers at Goodman & Company, Investment Counsel Ltd.", said Glen Gowland, President & CEO of Scotia Asset Management.  "Based on the track record of Dynamic Funds held within our Scotia Partners Portfolios, we are confident that the team at Goodman & Company will continue to deliver strong performance for ScotiaFund unitholders."

Effective March 8^th 2011, Goodman & Company, Investment Counsel Ltd. will be appointed as sub advisor to Scotia Asset Management L.P. for the following mandates:

• Scotia Global Opportunities Fund - Lead Manager David L. Fingold.
• Scotia International Value Fund - Lead Manager Chuk Wong.
• Scotia Global Small Cap Fund - Lead Manager Alexander Lane.
• Scotia Pacific Rim Fund - Lead Manager Chuk Wong.
• Scotia Canadian Blue Chip Fund - Lead Manager Adam Donsky.
• Scotia Canadian Growth Fund - Lead Manager Rohit Sehgal. Co-Manager Alexander Lane.
• Scotia Canadian Small Cap Fund - Lead Manager Alexander Lane.
• Scotia U.S. Blue Chip Fund (formerly known as Scotia U.S. Growth Fund) - Lead Manager Adam Donsky.
• Scotia Resource Fund - Co-Managers Robert Cohen and Jennifer Stevenson.

Also effective March 8^th 2011, State Street Global Advisors Ltd. will be appointed portfolio advisor to Scotia Nasdaq Index Fund and Scotia CanAm® Index Fund.

Finally, on or about March 29^th 2011, the Scotia Asset Management investment management team will be joining Goodman & Company, Investment Counsel Ltd.  At that point in time, Goodman & Company, Investment Counsel Ltd. will be appointed sub advisor to Scotia Asset Management L.P. for the following mandates:

• Scotia Money Market Fund
• Scotia U.S. $ Money Market Fund
• Scotia T-Bill Fund
• Scotia Premium T-Bill Fund
• Scotia Short-Mid Government Bond Fund
• Scotia Short Term Bond Fund
• Pinnacle Short Term Income Fund
• Scotia Bond Fund
• Scotia U.S. $ Bond Fund
• Scotia Canadian Corporate Bond Fund
• Scotia Canadian Income Fund
• Scotia Mortgage Income Fund
• Scotia Global Bond Fund
• Scotia Advantaged Income Fund
• Scotia Diversified Monthly Income Fund
• Scotia Canadian Balanced Fund
• Scotia Canadian Dividend Income Fund
• Scotia Canadian Dividend Fund
• Scotia Canadian Equity Fund
• Scotia North American Equity Fund
• Scotia U.S. Equity Fund
• Scotia Cyclical Opportunities Fund

"We are pleased to welcome the investment managers and research analysts from Scotia Asset Management to the Goodman & Company team" said David Goodman, President & CEO of DundeeWealth.  "The investment professionals at Scotia Asset Management and Goodman & Company are highly complementary to one another.  Together we will broaden our range of investment styles and be well positioned to service clients in multiple segments of the asset management industry."

About Scotia Asset Management L.P.

Under the ScotiaFunds name, Scotia Asset Management L.P. provides a broad range of mutual funds and 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.

About Goodman & Company, Investment Counsel Ltd.

Goodman & Company, Investment Counsel Ltd., a wholly owned subsidiary of DundeeWealth Inc., is a leading Canadian asset management company tracing its roots back more than 50 years.  Goodman & Company offers a wide range of wealth management solutions through financial advisors. These include the mutual funds and hedge funds of Dynamic Funds, and the portfolio solutions of the Marquis Investment Program.

Scotia Asset Management L.P. and Goodman & Company, Investment Counsel Ltd. are each, directly or indirectly, owned by The Bank of Nova Scotia. Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $526 billion (as at October 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.