TORONTO, Nov. 6, 2017 /CNW/ - ScotiaFunds is streamlining and reducing fees on some of its cash-equivalent fund offerings for customers.

Effective November 10, 2017, the maximum management fees for Series A units of Scotia T-Bill Fund and Scotia Money Market Fund will be reduced from 1.00% to 0.75%. Furthermore, unitholders with $100,000 or more invested in Series A units of either Scotia T-Bill Fund or Scotia Money Market Fund will automatically begin to receive a 0.25% management fee distribution.

Also effective November 10, 2017, ScotiaFunds is closing Scotia Premium T-Bill Fund to new purchases. At this time, unitholders with $250,000 to $1,000,000 invested in this Fund will begin to receive an increased management fee distribution of 0.35% from 0.20%.

About ScotiaFunds

ScotiaFunds, a division of 1832 Asset Management L.P., offers a range of wealth management solutions, including mutual funds, and investment solutions for private clients, institutional clients and managed asset programs. 1832 Asset Management L.P. is a limited partnership, the general partner of which is wholly owned by Scotiabank.

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 or insured by the Canada Deposit Insurance Corporation or any other government deposit insurer, their values change frequently and past performance may not be repeated.

About Scotiabank

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $906 billion (as at July 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank