TORONTO, ON - January 27, 2014 /CNW/ - ScotiaFunds, one of Canada's premier fund families, today announced the launch of Scotia Conservative Income Fund. The Fund intends to generate income and manage interest rate risk by investing primarily in a diversified blend of conservative fixed income funds.

"Scotia Conservative Income Fund rounds out ScotiaFunds' fixed income lineup by providing conservative investors with an alternative to more traditional short-term bond funds," said Neil Macdonald, Managing Director, ScotiaFunds. "When compared to traditional bond funds, the Fund aims to provide investors with lower volatility, modest income and the potential for greater capital preservation."

Scotia Conservative Income Fund is managed by 1832 Asset Management L.P. The Fund invests primarily in underlying funds that invest in fixed income securities, such as but not limited to: bonds issued by Canadian and U.S. federal, provincial and municipal governments; bonds and preferred shares issued by U.S. and Canadian investment grade corporations and non-investment grade corporations; and residential mortgages.

ScotiaFunds are managed by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by The Bank of Nova Scotia. ScotiaFunds are available through Scotia Securities Inc. and from other dealers and advisors, including ScotiaMcLeod and Scotia iTRADE, which are divisions of Scotia Capital Inc. Scotia Securities Inc. and Scotia Capital Inc. are wholly owned by The Bank of Nova Scotia. 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 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 L.P. 
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 The Bank of Nova Scotia.

About Scotiabank 
Scotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Through our team of more than 83,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking to over 21 million customers. With assets of $744 billion (as at October 31, 2013), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using CNW. For more information please visit www.scotiabank.com.

For further information please contact 
Joe Konecny 
(416) 933-1175 
joe.konecny@scotiabank.com