Selecting the right portfolio advisor is critical to the success of any investment. That's why we've chosen a variety of proven investment advisors from around the world to manage the ScotiaFunds.
Our portfolio advisors include:
Scotia Cassels Investment Counsel Limited
Scotia Cassels Investment Counsel Limited (Scotia Cassels) is one of Canada's top-ranking money managers, with over $26 billion in total assets under management (as of December 31, 2007). It is a leading provider of investment management expertise to mutual funds, pension funds, foundations, estates and trusts. The Scotia Cassels investment team has over 200 years of collective experience in the asset management business.
Scotia Cassels takes a long term, conservative, capital preservation approach to managing money. Its disciplined process ensures that portfolio construction balances rate of return expectations with acceptable risk tolerances. Scotia Cassels teams interact daily and meet formally on a regular basis to review asset mix strategies and assess all factors affecting individual funds.
Connor, Clark & Lunn Investment Management Ltd.
Established in 1982, Connor, Clark & Lunn (CC&L) is a private independent investment-counselling firm that is 100% owned by its principals. The firm is part of the Connor, Clark & Lunn Financial Group of companies with $23 billion in assets under management (as of December 31, 2007).
The firm provides professional asset management for pension fund sponsors, capital accumulation plans, corporations, not-for-profit organizations, mutual funds and individual investors. CC&L first identifies opportunities, then relative values, and then constructs the most efficient portfolio on a risk-adjusted basis based on each client's needs.
State Street Global Advisors, Ltd.
State Street Global Advisors Ltd. (SSgA) was established in 1978, as the investment management division of State Street Bank & Trust Company. In 1995, all of State Street's investment related business units were organized under one umbrella, named State Street Global Advisors Limited. The Canadian presence of SSgA was established in 1991.
Indexing is the foundation of SSgA's investment management business. SSgA is one of the world's largest managers of both U.S. and non-U.S. indexed strategies. SSgA offers a broad array of investment strategies, including passive, enhanced and active management using quantitative and fundamental methods for both global equities and global fixed income.
The objective of SSgA's approach to index investing is to provide cost-efficient implementation while closely tracking the index.
AllianceBernstein Canada, Inc.
AllianceBernstein Canada Inc. is a wholly-owned subsidiary of AllianceBernstein L.P., a global leader in institutional investment management and research with approximately $800 million U.S. in assets under management (as of December 31, 2007). It brings together more than three decades of AllianceBernstein's expertise in growth investing and excellence in value management. The firm believes that research is the ultimate source of superior investment returns and boasts one of the largest global research commitments in the investment management industry.
Its investment processes pay close attention to fundamentals and are highly disciplined. Its growth, value and core equity teams, and fixed-income teams adhere to clearly defined rules for security and portfolio construction to ensure that clients get products with the characteristics and long-term performance patterns they seek.
TCW Investment Management Company
Founded in 1971, TCW Investment Management Company (TCW) is an indirect subsidiary of Société Générale, S.A. TCW offers U.S. and global investments for clients with diverse objectives, and specializes in managing taxable and tax-exempt pools of capital for pension and profit sharing funds, financial institutions, endowments and foundations as well as high net worth individuals.
Combining top-down and bottom-up approaches enables the portfolios managed by TCW to adapt to different market conditions and prevents the managers from missing investment opportunities. Internationally, TCW and its affiliates invest in almost every stock market in the world. Their investment strategies include country and regional portfolios invested in either developed or emerging markets in Asia, Europe, Japan and Latin America.
Baillie Gifford
Baillie Gifford is one of the leading privately owned investment management firms in the U.K. Founded in 1908 and based in Edinburgh, with more than $110 billion U.S. in assets under management (as of December 31, 2007). The portfolio managers at Baillie Gifford are true active managers that maintain a strong focus on individual companies while building portfolios from the bottom up. Their investment philosophy is to invest in well managed companies with strong prospects for growth and sustainable competitive advantages.
Baillie Gifford believes that share prices will ultimately follow a company’s ability to grow their earnings. By focusing its efforts on researching companies with above-average growth in earnings and cash flow, it has been able to generate strong long-term performance for their investors.
GlobeFlex Capital, L.P. (“GlobeFlex”)
Based in San Diego, California, GlobeFlex is an independent, employee-owned investment firm specializing in equity management for the institutional marketplace with $7.4 billion U.S. in assets under management (as of December 31, 2007). GlobeFlex manages investment accounts for pension plans, foundations, endowments and individual investors. It is a research-driven firm with a disciplined systematic process that identifies growth companies that are undervalued. GlobeFlex believes that through consistent and objective research, analyzing both the return and risk components of the equity markets, it can maintain an investment edge and deliver strong performance over the long term.
Metropolitan West Capital Management, LLC (“MetWest Capital”)
Founded in 1992 with $6 billion U.S. in assets under management (as of December 31, 2007), MetWest Capital oversees and manages investment portfolios for clients throughout the United States and abroad. Based in Newport Beach, California, the company specializes in Domestic Value Equity (large cap and small cap), International Core Value Equity and Balanced portfolios. It has an investment team of highly experienced managers who research high-quality businesses from an objective, global perspective. They seek to identify companies selling below fair value to produce superior long-term returns with lower-than-market risk.
Pzena Investment Management, LLC (“Pzena”)
Pzena Investment Management, a New York-based investment advisor founded in 1995, is a value investment manager with $23 billion U.S. in assets under management (as of December 31, 2007). Using a disciplined, research driven process, Pzena's investment team screens stocks that are in the most undervalued or “deep” value portion of their universe, based on normal earnings. Companies considered for investment must have a competitive advantage such as a superior distribution network, low cost structure, or, simply, tangible assets. Pzena has a seventeen-person research team with extensive experience managing or advising large public businesses and institutions.
Thornburg Investment Management, Inc. ("Thornburg")
Thornburg Investment Management is a privately-held investment management company based in Santa Fe, New Mexico, with over $53.6 billion in assets under management (as of December 31, 2007). Founded in 1982, the firm manages equity funds, bond funds, and portfolios for select institutions and individuals. Thornburg’s equity research team uses a fundamental, comprehensive, and analytical approach. It invests when and where it perceives the most compelling value. Thornburg’s equity funds focus on a limited number of securities so that each holding can have a material impact on performance. The equity team searches for businesses believed to have a promising future and seek to buy shares of those companies that are undervalued. Thornburg was awarded the Fund Manager of the Year (International) award from Morningstar in 2003. In 2006, it was awarded the prestigious Equity Manager of the Year by the Public Pension Awards.
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