TORONTO, Jan. 24, 2013 /CNW/ - Scotia Asset Management L.P. today announced portfolio advisor changes to Scotia Private Income Pool and Scotia Private U.S. Mid Cap Growth Pool.

Effective on or about April 22, 2013, Beutel Goodman & Company Ltd. ("Beutel Goodman") is scheduled to become portfolio advisor for Scotia Private Income Pool, replacing the current portfolio advisor. Founded in 1967, Beutel Goodman specializes in applying a value approach to the management of Canadian and non-domestic equities in addition to managing global equity, balanced and fixed income mandates.  The firm's core fixed income style is active and seeks to add value through management of duration, yield curve and credit risk.  Beutel Goodman is based in Toronto, serves both institutional and individual investors, and manages approximately $31 billion in assets as at September 30, 2012.

Effective on or about April 22, 2013, William Blair & Company L.L.C. ("William Blair") is scheduled to become portfolio advisor for Scotia Private U.S. Mid Cap Growth Pool, replacing the current portfolio advisor.  Founded in 1935, William Blair is a global investment banking and asset management firm with approximately $47 billion in assets under management as of September 30, 2012. The firm manages money for institutional, private and mutual fund investors across geographies and asset classes, drawing on an investment-centric culture, deep intellectual capital and disciplined research processes.  An independent and employee-owned firm, William Blair is based in Chicago and has offices on four continents. Partnership-focused, we are committed to delivering a disciplined, fundamental, research-driven approach to investing to create long-term sustainable value with proven, actively managed investment capabilities.

Scotia Asset Management L.P.'s manager selection process leverages the global research capabilities of investment management consultantconsultant, NT Global Advisors, Inc. a Northern Trust Corporation affiliate, in identifying and evaluating best in class investment managers for Scotia Private Pools. Beutel Goodman and William Blair's strong track record and proven team of investment professionals joins an already strong lineup of portfolio advisors to the Scotia Private Pools.

There will be no change to the investment objective of Scotia Private Income Pool or Scotia Private U.S. Mid Cap Growth Pool as a result of the portfolio advisor changes.

Scotia Private Pools are a family of investment pools offered and managed by Scotia Asset Management L.P. They are available through ScotiaMcLeod, a division of Scotia Capital Inc., a wholly-owned subsidiary of, and separate entity from, Scotiabank, and Scotia Private Client Group.  Scotia Private Client Group consists of private client services from Scotiabank, 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. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.

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 Scotia Asset Management
Scotia Asset Management L.P. is wholly-owned, directly and indirectly, by Scotiabank 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. In December 2012, Scotiabank became the first Canadian bank to be named Global Bank of the Year and Bank of the Year in the Americas by The Banker magazine, a Financial Times publication. With assets of $668 billion (as at October 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

This press release contains forward-looking information. The forward-looking information contained in this press release is not historical information but reflects the Fund's current intentions or expectations regarding future events. The forward looking information is subject to risks, uncertainties and other factors that could influence actual events and cause them to differ materially from current intentions or expectations. The forward-looking information contained in this press release constitutes the current intention of Scotia Asset Management L.P. and the funds, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking information contained in this press release represents the an intention as of any date other than the date of this press release and are cautioned not to place undue reliance on such information due to the inherent uncertainty therein. Except where required by under applicable securities legislation, Scotia Asset Management L.P. and the funds do not undertake to update any forward looking information.

SOURCE: Scotiabank - Products & Services