SCOTIABANK LAUNCHES TWO NEW MUTUAL FUNDS
By Adnews Staff
Scotiabank of Toronto launched two new mutual funds this week called the Scotia Excelsior European Growth Fund and the Scotia CanAm Money Market Fund. The former is designed to capitalize on projected growth and opportunity in Europe due to the growth of the European Economic Community and the privatization trend in eastern Europe. It will invest primarily in high-quality, listed equity securities, including closed-end country funds from a broad range of European nations. The CanAm fund provides interest income in U.S. dollars and U.S. currency exposure while still being 100% RRSP/RRIF-eligible because the debt securities and money market instruments are issued by Canadian federal, provincial or municipal governments. The new offerings will be advertised as part of Scotiabank's family of mutual funds, in an ongoing campaign that emphasizes the bank's integrated Guaranteed Income Certificates (GICs) and its mutual funds. The national campaign uses newspapers and selected magazines, as well as occasional television spots. Cossette Communication-Marketing of Montreal creates ads for Scotiabank.