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Scotia Private Client Group has launched the Scotia Long Short Equity Fund, the first alternative investment solution available through its private investment counsel.
The new fund provides accredited investors with the ability to limit downside risk and volatility while participating in the upside potential of equity markets.
"In today's ever-changing environment, Scotia Private Client Group continues to strategically expand our investment platform to meet the needs of high net worth investors,” says Richard McIntyre, managing director and head, Scotia Private Client Group. "We are pleased to provide this new investment solution to eligible clients. The addition of alternative investments underscores our commitment to continually look for innovative strategies to help meet our clients' evolving needs, which include a focus on risk management and capital preservation."
Scotia Long Short Equity Fund is sub-advised by Noah Blackstein, vice president and portfolio manager at GCIC Ltd. Blackstein's investment history began in 1994 and since that time he has established himself as one of the premier US and global growth fund managers.
With over a decade of experience managing a long/short strategy, Blackstein employs a conservative approach to long/short investing with a focus on providing absolute returns while protecting capital. He uses a fundamental, bottom-up approach to uncover investment opportunities on both the long and short side of the portfolio. Through active management and controlled market exposure, the fund aims to generate an enhanced risk-adjusted return regardless of the overall direction of the market.
"As part of a diversified portfolio, alternative investments have historically demonstrated the ability to lower downside risk while providing more consistent absolute returns," says Wes Mills, chief investment officer, Scotia Asset Management. "The new fund is an example of our growing efforts to integrate alternative investments into portfolio construction and asset allocation."
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