TORONTO, ON - January 09, 2017 /CNW/ - ScotiaFunds® today announced a simplified pricing framework that includes lower management fees on select Scotia Aria Portfolios and equalized management fees across Series A and Premium Series. These changes ensure all current and future clients in the Scotia Aria Retirement Program will receive the lowest possible fee on their investment in the Scotia Aria Portfolios. The new management fee structure will take effect January 10, 2017.

The Scotia Aria Retirement Program is ScotiaFunds' premier retirement solution. Unlike more generic approaches, Aria offers clients customized portfolio allocations that align to their investment needs at each stage of their retirement journey -- spanning long-term capital appreciation in the earlier years, to an increased emphasis on mitigating risk as retirement approaches, to a focus on cash flow while in retirement.

"Planning for retirement is the most important goal that Canadian investors will prepare for. Working with a Scotiabank Advisor, the Scotia Aria Retirement Program offers a uniquely differentiated investment experience to help prepare for and live a retirement vision," said Neil Macdonald, Managing Director, ScotiaFunds. "The pricing changes we have announced today combined with the value of financial advice will create meaningful long-term benefits for clients and will help ensure their retirement savings go further."

Scotia Aria Portfolios are managed by 1832 Asset Management L.P. 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/2017/1/8/11G126766/Aria_Backgrounder_Jan_9_FINAL-fe73c1acfa66bfb0a5a2eeba0a218fb5.pdf

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