Scotia-branded ETFs rely on BlackRock's expertise

Multi-manager portfolios cover all major asset classes.

Rudy Luukko 30 May, 2018 | 5:00PM

Bank of Nova Scotia, the fourth major Canadian bank to sponsor a family of exchange-traded funds, has chosen to rely on the investment expertise of the biggest Canadian ETF provider.

Three equity ETFs -- Scotia Strategic Canadian Equity ETF Portfolio (SCAD), Scotia Strategic U.S. Equity ETF Portfolio (SUSA), Scotia Strategic International Equity ETF Portfolio (SINT) -- along with Scotia Strategic Fixed Income ETF Portfolio (SFIX), opened for trading today on the Toronto Stock Exchange.

All of them are multi-manager portfolios of underlying ETFs that will be selected and managed by BlackRock Asset Management Canada Ltd., which in turn draws on the expertise of other subsidiaries of its New York-based parent  BlackRock Inc. (BLK), the world's largest asset manager. The sponsor of the ETFs is Scotiabank subsidiary 1832 Asset Management L.P., which will have an oversight role while leaving day-to-day portfolio management to BlackRock.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
BlackRock Inc646.16 USD0.17

About Author

Rudy Luukko

Rudy Luukko  Rudy Luukko is a freelance writer who contributes to Morningstar.ca on topics involving fund industry trends and regulatory issues. He retired in May 2018 from his position as editor, investment and personal finance, at Morningstar Canada, where he had worked since 2004. He has also worked as an editor and writer for various general, specialty and institutional media, and he has co-authored courses for the Canadian Securities Institute. Follow Rudy on Twitter: @RudyLuukko.

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