TORONTO, Nov. 19, 2012 /CNW/ - Scotia Asset Management L.P. today announced a portfolio advisor change to one of its funds.

Effective November 23, 2012, SCOTIA INVERLAT CASA DE BOLSA, S.A. DE C.V., GRUPO FINANCIERO SCOTIABANK INVERLAT ("Scotia Gestión de Activos") will become portfolio advisor for Scotia Latin American Fund, replacing TCW Investment Management Company.  Scotia Gestión de Activos and its affiliates have over $7 billion in assets under management* and is wholly-owned, directly and indirectly, by Scotiabank.  A respected asset manager in the Mexican wealth market, Scotia Gestión de Activos manages a broad array of fixed income and equity strategies for institutional and individual investors.  The firm's portfolio managers work in close partnership with a network of Scotia investment professionals and resources in Latin American as part of its bottom-up investment process that seeks to grow and protect clients' assets.

Scotia Gestión de Activos will join ScotiaFunds' already strong lineup of portfolio advisors. There will be no change to the investment objectives of Scotia Latin American Fund as a result of the portfolio advisor change.

About Scotia Asset Management

Scotia Asset Management L.P. is wholly-owned, directly and indirectly, by The Bank of Nova Scotia and is a manager of investment solutions for private clients, institutional clients, managed asset programs and mutual funds. Under the ScotiaFunds name, Scotia Asset Management L.P. provides a broad range of 41 mutual funds and 27 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.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

About Scotiabank

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 81,000 employees, Scotiabank 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 of $670 billion (as at July 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

*As at September 30, 2012.

SOURCE: Scotiabank