The move follows the earlier launch of of Scotia Corporate Class Funds, a retail-focused tax-smart solution available through Scotiabank branches.
Tuula Jalasjaa, managing director and head, Investment Management Distribution at Scotia Private Client Group remarked "The funds within Scotia Private Corporate Class Pools were specially selected to meet the needs of our high net worth clients who typically favour a more conservative investment approach."
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"Our new offering will form part of an already strong base of customized solutions that will now include both tax-efficient fixed income investing and greater flexibility," she added.
Each fund within Scotia Private Client Group Pools will be offered as a separate class of shares within the corporation and investors will be able to switch from one class of shares to another without triggering an immediate taxable event.
Further, to reflect the investment style of high net worth Canadians, fixed income as well as conservative dividend mandates feature prominently in the various fund line-up.
"Managing the impact of taxes on investment returns is an important consideration for high net worth Canadians who have maxed out their RRSP and TFSA limits and have additional taxable wealth. Scotia Private Corporate Class Pools meets the needs of this investor segment looking for a tax-efficient income investing strategy, with tax-deferred switching, rebalancing and the potential for smaller taxable distributions," added Jalasjaa.
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