TORONTO, Oct. 28, 2021 /CNW/ - Scotia Global Asset Management announced today that it has received securityholder approval at special meetings held on October 28, 2021 to (i) merge (the "Merger") Scotia CanAm Index Fund (the "Terminating Fund") into Scotia U.S. Equity Index Fund (the "Continuing Fund"), and (ii) to change the investment objectives of Scotia International Equity Index Fund and Scotia Nasdaq Index Fund (together, the "Investment Objective Changes"). Regulatory approvals for the Merger and Investment Objective Changes have also been received. The Merger and Investment Objective Changes are expected to become effective on or about November 8, 2021.

Following the Merger, securityholders of the Terminating Fund (which has been closed to new and additional purchases since July 24, 2015) can resume pre-authorized contributions and/or lump sum purchases in the Continuing Fund by contacting their advisor or registered dealer. Effective on the date of the Merger, the Manager will also reduce the fixed administration fee for Series A, Series D and Series F of the Continuing Fund from 0.17% to 0.16%. Series I fees of the Continuing Fund will not be impacted.

The investment objectives of Scotia Nasdaq Index Fund and Scotia International Equity Index Fund will be amended to permit the funds to track the performance of their respective reference index through direct investments through full replication or optimization, instead of index tracking futures contracts. In connection with the Investment Objective Changes, the fixed administration fees of the Funds will be reduced – for Scotia Nasdaq Index Fund (Series A, D and F units) from 0.23% to 0.22%, and for Scotia International Equity Index Fund (Series A, D and F units) from 0.32% to 0.24%. Any fees with respect to Series I units will not be impacted. In addition, the current reference index of Scotia International Equity Index Fund will change to the Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index.

Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus of the ScotiaFunds® before investing. Mutual funds are not guaranteed or insured by the Canada Deposit Insurance Corporation or any other government deposit insurer. The value of mutual funds, including ScotiaFunds®, changes frequently and past performance may not be repeated.

About Scotia Global Asset Management

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

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future" we help our customers, their families and their communities achieve success 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 over 90,000 employees and assets of approximately $1.2 trillion (as at July 31, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank