Scotia Private Client Group has launched its Scotia Private Corporate Class Pools—a new class of funds geared to wealthy Canadians looking to boost their portfolios by deferring and minimizing the taxes paid on non-registered investments.
The funds cater to clients who favour a more conservative investment approach, says Tuula Jalasjaa, Managing Director and Head, Investment Management Distribution at Scotia Private Client Group.
Read: Affluent investors go conservative, for more on how rich clients became conservative in the midst of the 2008/2009 financial crisis
Under the management of Scotia Asset Management, each fund will be offered as a separate class of shares within the corporation. Investors can switch from one class of shares to another without triggering an immediate taxable event.
Fixed income and conservative dividend mandates feature prominently in the fund line-up, which includes:
- Scotia Private U.S. Equity Class
- Scotia Private U.S. Dividend Class
- Scotia Private Canadian Equity Class
- Scotia Canadian Dividend Class
- Scotia Canadian Corporate Bond Capital Yield Class
- Scotia Conservative Government Bond Capital Yield Class
- Scotia Short Term Yield Class
“Managing the impact of taxes on investment returns is crucial for clients who may have maxed out their RRSP and TFSA limits, and who have additional taxable wealth,” says Jalasjaa.
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