TORONTO, Feb. 21, 2012 /CNW/ - Scotia Asset Management L.P. today announced the addition of a sub-advisor to Scotia INNOVA Income Portfolio and Scotia INNOVA Balanced Income Portfolio.

Effective February 21, 2012, Aurion Capital Management Inc. (Aurion) will become sub-advisor for a portion of Scotia INNOVA Income Portfolio and Scotia INNOVA Balanced Income Portfolio (the Portfolios). Aurion is a registered investment advisory firm specializing in Canadian Equities, Fixed Income, Real Estate, Currency and Alternatives, primarily for institutional investors. Established in 1996 and headquartered in Toronto, Ontario, Aurion currently has approximately $5.9 billion in assets under management.

Aurion's strong track record and team of experienced professionals joins an already strong line-up of portfolio advisors and sub-advisors at Scotia Asset Management. There will be no change to the investment objective or strategies of either of the Portfolios as a result of the sub-advisor addition.

As part of the ScotiaFunds^® family of funds, Scotia INNOVA Portfolios^® are professionally managed solutions for clients with investable assets exceeding $50,000. They include five distinct portfolios offering exclusive investment management expertise, comprehensive portfolio diversification and ongoing monitoring and rebalancing. 

Scotia INNOVA Portfolios are managed by Scotia Asset Management L.P., a limited partnership wholly-owned directly and indirectly by The Bank of Nova Scotia. Scotia Asset Management L.P. is a manager of investment solutions for private clients, institutional clients, managed asset programs and mutual funds.

Aurion Capital Management Inc. is 60 per cent owned by DundeeWealth Inc., which is a wholly-owned subsidiary of The Bank of Nova Scotia.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 75,000 employees, Scotiabank Group and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $575 billion (as at October 31, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.