Scotia Global Asset Management announces fee reductions and year-end distribution estimates
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TORONTO, Nov. 28, 2024 /CNW/ - Scotia Global Asset Management today announced the reduction of the annual fixed administration fee (FAF) on several ScotiaFunds. The changes will be implemented on or about December 6, 2024. There will be no change to the investment objectives of the funds resulting from these fee reductions.
The funds with FAF adjustments are as follows:
| Fund | Series | New FAF | Current FAF |
| Scotia Canadian Small Cap Fund | A, F | 0.25 % | 0.26 % |
| Scotia Global Bond Fund | A, F | 0.15 % | 0.30 % |
| Scotia Global Dividend Class | A, F | 0.25 % | 0.30 % |
| Scotia Global Equity Fund | A, F | 0.25 % | 0.35 % |
| Scotia Low Carbon Global Equity Fund | A, F | 0.25 % | 0.35 % |
| Scotia U.S. Opportunities Fund | A, F | 0.25 % | 0.35 % |
Estimated year-end reinvested distributions for Scotia ETFs
Scotia Global Asset Management also announced the estimated year-end reinvested distributions for the Scotia ETFs listed on the Cboe Canada exchange for the 2024 tax year.
These distributions are typically reinvested in additional units of the respective Scotia ETF at year end, and do not include estimates of any monthly and/or quarterly cash distributions for the remainder of the year. The additional units will be immediately consolidated so that the number of units outstanding following the distribution will equal the number of units outstanding prior to the distribution.
These are estimated amounts only and have been calculated based upon forward-looking information as of October 31, 2024, so the actual distributions may differ materially from these estimates. We expect to announce updated estimates of the year-end reinvested distribution amounts (as well as any monthly and/or any quarterly cash distribution amounts, as applicable) on or about December 19, 2024. The record date for the 2024 final year-end distributions will be December 30, 2024, payable on January 7, 2025.
The actual taxable amounts of reinvested and cash distributions for 2024, including the tax characteristics of the distributions, will be reported to CDS Clearing and Depository Services Inc. in early 2025. Securityholders can reach out to their brokerage firm for this information.
The estimated reinvested distribution amounts are:
| Scotia ETF name | Ticker | Estimated |
| Scotia Canadian Bond Index Tracker ETF | SITB | 0.00000 |
| Scotia Canadian Large Cap Equity Index Tracker ETF | SITC | 0.00000 |
| Scotia Emerging Markets Equity Index Tracker ETF | SITE | 0.00000 |
| Scotia International Equity Index Tracker ETF | SITI | 0.00000 |
| Scotia Responsible Investing Canadian Bond Index ETF | SRIB | 0.00000 |
| Scotia Responsible Investing Canadian Equity Index ETF | SRIC | 0.21464 |
| Scotia Responsible Investing International Equity Index ETF | SRII | 0.30921 |
| Scotia Responsible Investing U.S. Equity Index ETF | SRIU | 0.97295 |
| Scotia U.S. Equity Index Tracker ETF | SITU | 0.00000 |
Forward-looking information
This notice contains forward-looking statements with respect to the year-end reinvested distributions for the Scotia ETFs. By their nature, these forward-looking statements involve risks and uncertainties that could cause the actual distributions to differ materially from the estimated distributions set forth in this notice. Factors that could cause the actual distributions to differ from the estimated distributions between now and the Scotia ETFs' tax year-end include, but are not limited to, the trading activity within the Scotia ETFs, and subscription and redemption activity.