TORONTO, ON - January 09, 2017 /CNW/ - ScotiaFunds® today announced a new simplified pricing model for its lineup, effective January 10, 2017. The new model results in lower management fees on 51 ScotiaFunds that span long-term, actively-managed asset classes and portfolio solutions. Investors will have access to a full suite of actively managed funds that combine simplicity and greater value. ScotiaFunds is managed by 1832 Asset Management L.P.

"The simplified approach to pricing for ScotiaFunds enables our clients to better understand the cost of their investments while saving money on fees and making their investments go further," said Neil Macdonald, Managing Director, ScotiaFunds. "Through a combination of tailored advice, traditional and innovative investment solutions and competitive fees, our clients are uniquely positioned to achieve their personal financial goals."

ScotiaFunds has equalized management fees by product category and eliminated pricing premiums on foreign and specialty mandates. Management Fees have been simplified by offering four distinct pricing levels for fixed income, equity income/dividend income, balanced and equity funds. This means there will no longer be a premium within a category for specialty, foreign or focused mandates. The pricing changes to the ScotiaFunds lineup will provide clients with a greater value to their portfolios.

For more information on the changes introduced, please see attached Backgrounder.

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 23 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 $896 billion (as at October 31, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

Attachment Available: http://www.marketwire.com/library/MwGo/2017/1/8/11G126765/Backgrounder_Changes_to_ScotiaFunds_Mutual_Funds_P-0a1ea95feb26b38fbc286bd557f21e7c.pdf

For media enquiries only:
Debra Chan
Public, Corporate and Government Affairs
Scotiabank
(416) 866-6443 
debra.chan@scotiabank.com