TORONTO, Nov. 27, 2012 /CNW/ - Scotia Private Client Group today announced the launch of Scotia Private Real Estate Income Pool. The pool is offered as part of Scotia Private Client Group's Private Investment Counsel offering and is suitable for investors seeking income and long-term capital growth through exposure to the North American real estate market.

"Scotia Private Client Group continues to strategically expand our product offerings to cater to the needs of high net worth investors," said Tuula Jalasjaa, Managing Director and Head, Private Client Investments at Scotia Private Client Group. "Scotia Private Real Estate Income Pool is well positioned for the current low interest rate environment, offering attractive yield potential with enhanced diversification and lower volatility."

Scotia Private Real Estate Income Pool is managed by Oscar Belaiche, Vice President & Portfolio Manager, and co-managed by Tom Dicker, Portfolio Manager; both members of the award-winning Equity Income Team at GCIC Ltd.

"Real estate investment trusts offer some of the better opportunities to weather a slowing global economy and dramatic market swings," said Mr. Belaiche, lead manager for the pool. "The key to REITs is that aging baby boomers need income in the current environment to fund retirement, and that will drive demand for companies with predictable cash flow regardless of whether there are concerns about the market."

Scotia Private Real Estate Income Pool invests in a concentrated portfolio of North American equity securities, including REITs of businesses that own and/or operate a wide variety of real estate properties. The Equity Income team employs a Quality at a Reasonable Price (QUARP^®) philosophy and uses strict due diligence measures in determining "best in class" businesses with solid balance sheets, dominant positions in their respective industry sector and management holding a significant equity stake.

About Scotia Private Client Group

Scotia Private Client Group helps affluent clients become financially better off by helping them build, preserve and transfer their wealth. Scotia Private Client Group creates integrated and personalized wealth management strategies that incorporate investment management, estate and trust services and private banking.

Scotia Private Client Group consists of private client services from The Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, Scotia Asset Management L.P., Scotia Asset Management U.S. Inc., Scotia McLeod Financial Services Inc., WaterStreet Family Capital Counsel Inc., and ScotiaMcLeod, a division of Scotia Capital Inc. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. For more information, please visit www.scotiaprivateclientgroup.com.

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.

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.

SOURCE: Scotiabank - Products & Services