Scotia Private Pools has made portfolio advisor changes to Scotia Private Emerging Markets Pool and Scotia Private US Large Cap Growth Pool.

1832 Asset Management L.P. is the manager of the Pools.

On or about January 2, 2014, Lee Munder Capital Group is scheduled to become portfolio advisor for Scotia Private Emerging Markets Pool, replacing the current portfolio advisor.

Founded in 2000, Lee Munder is based in Boston, Massachusetts and manages approximately US$ 5.7 billion as at September 30, 2013. Lee Munder manages a variety of investment strategies including emerging markets equity, non-US developed small cap equity, and US large cap, mid cap and small cap equity for both institutional and private clients.

On or about January 2, 2014, Polen Capital Management is scheduled to become portfolio advisor for Scotia Private US Large Cap Growth Pool, replacing the current portfolio advisor. Founded in 1979, PCM is a privately owned firm based in Boca Raton, Florida that concentrates exclusively on its single Large Cap Growth strategy.

The strategy is built on the founder’s belief that a concentrated portfolio of only the highest-quality businesses could provide a good margin of safety and that share prices usually follow earnings growth.

PCM manages approximately US$ 4.7 billion in assets as at September 30, 2013 on behalf of public funds, endowments and foundations, corporate retirement plans, Taft-Hartley funds, family offices, as well as high net worth individuals and families.

The portfolio managers of the Pools use a manager selection process that leverage the global research capabilities of investment management consultant, NT Global Advisors, Inc., a Northern Trust Corporation affiliate, in identifying and evaluating best in class investment managers for Scotia Private Pools.

Lee Munder’s and PCM’s strong track record and proven team of investment professionals join an already strong lineup of portfolio advisors to the Scotia Private Pools.

There will be no change to the investment objective of the Pools as a result of the portfolio advisor change.