Scotia Private Pools Announces Portfolio Advisor Change

TORONTO, ON--(Marketwired - May 16, 2016) - Scotia Private Pools® today announced a portfolio advisor change to Scotia Private U.S. Value Pool (the "Pool"). 1832 Asset Management L.P. (the "Manager") is the manager of the Pool. There will be no change to the investment objective of the Pool as a result of the portfolio advisor change.

On July 5, 2016, Coho Partners, Ltd. ("Coho") is scheduled to become portfolio advisor for Scotia Private U.S. Value Pool, replacing the current portfolio advisor. Founded in 1999, Coho is an independent, employee-owned investment firm headquartered in Berwyn, Pennsylvania, and advises approximately $4.1 billion in assets on behalf of institutions, endowments, foundations, and high-net-worth clients. Coho's investment philosophy is that the most effective way to create and sustain wealth is by investing in high quality, stable and defensive companies whose dividends and earnings tend to grow regardless of the economic environment. They utilize a bottom-up investment approach, with a primary investment objective of protecting principal in a declining market.

The Manager uses a manager selection process that leverages the global research capabilities of investment management consultant, NT Global Advisors, Inc., a Northern Trust Corporation affiliate, in aiming to identify and evaluate best in class investment managers for Scotia Private Pools. Coho joins an already strong line-up of portfolio advisors to the Scotia Private Pools.

Scotia Private Pools are a family of investment pools managed by 1832 Asset Management L.P. and distributed through ScotiaMcLeod®, a division of Scotia Capital Inc. (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 Scotiabank.

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 89,000 employees and assets of $920 billion (as at January 31, 2016), Scotiabank trades on the Toronto (BNS.TO) and New York Exchanges (BNS.TO). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

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