TORONTO, March 1, 2021 /CNW/ - Scotia Global Asset
Management ("Scotia GAM") today announced its intention to
terminate two ScotiaFunds (the "Funds") and four Scotia ETFs (the
"ETFs").
The two terminating Funds are:
- Scotia Private Diversified International Equity Pool (Series
I)
- Scotia Private Global Low Volatility Equity Pool (Series
M)
The Funds will be terminated on or about March 12, 2021, and currently have no
unitholders.
The four terminating ETFs are:
- Scotia Strategic Canadian Equity ETF Portfolio (SCAD)
- Scotia Strategic Fixed Income ETF Portfolio (SFIX)
- Scotia Strategic International Equity ETF Portfolio (SINT)
- Scotia Strategic U.S. Equity ETF Portfolio (SUSA)
No further direct subscriptions for units of the ETFs will be
accepted effective today. Scotia GAM will request that the ETFs be
delisted from the Toronto Stock Exchange ("TSX") following market
close on or about May 14, 2021.
Until such date, units of the ETFs will continue to be listed
on the TSX. The ETFs will be terminated effective on or about
May 19, 2021 (the "Termination
Date"). All units of the ETFs still held by investors will be
subject to a mandatory redemption as of the Termination Date.
On or about the Termination Date, Scotia GAM will liquidate the
assets of the ETFs and, after paying or making adequate provision
for the liabilities of each ETF, distribute the cash proceeds
on a pro rata basis to the investment account of ETF unitholders of
record on the Termination Date.
Scotia GAM will issue an additional press release on or about
the Termination Date confirming the final details of each
terminating ETF. A notice of termination will also be mailed
to unitholders of the terminating ETFs at least 60 days prior to
the Termination Date.
For further information regarding Scotia Global Asset
Management's Funds and ETFs, please visit
scotiafunds.com.
Commissions, trailing commissions, management fees and expenses
all may be associated with investments in the Funds and ETFs.
Please read the prospectus before investing. Investments in the
Funds and ETFs are not guaranteed; their values change 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, 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
approximately 90,000 employees and assets of approximately
$1.2 trillion (as at January 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