TORONTO, June 17, 2019 /CNW/ - 1832 Asset Management L.P., as Trustee and Manager of ScotiaFunds, today announced that it has received securityholder approval at special meetings held on June 14, 2019 to merge certain mutual funds. Regulatory approval for the mergers has also been received.

The following mergers will take effect after the close of business on or about July 12, 2019:

Purchases of units of the Terminating Funds, including pre-authorized contribution plans were suspended effective as of the close of business March 15, 2019.  Following each merger, unitholders can re-establish a pre-authorized contribution plan or automatic withdrawal plan with respect to the Scotia International Equity Fund by contacting their advisor or registered dealer.

Effective on the date of the mergers, the Manager will also reduce the Fixed Administration Fee for Series A and Series F of the Scotia International Equity Fund from 0.35% to 0.25%.

Commissions trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the 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 1832 Asset Management

1832 Asset Management 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 is a limited partnership, the general partner of which is wholly owned by Scotiabank. 

About Scotiabank

Scotiabank is Canada's international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 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 99,000 employees and assets of over $1 trillion (as at April 30, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank