Key Takeaways
- • Scotiabank released a white paper titled "Liquid Alternative Funds: A Guide for Mutual Fund Managers" on October 12, 2018, aimed at Canadian mutual fund managers considering launching alternative mutual funds.
- • The guide explains that Canadian Securities Administrators' newly implemented regulatory reforms now permit hedge-fund-style strategies within Canadian mutual fund prospectus rules.
- • Daniel Dorenbush, Managing Director and Head of Canadian Prime Services at Scotiabank, said the bank is positioned to partner with fund manufacturers as alternative products gain momentum in the Canadian retail market.
Summary
Scotiabank published a white paper on October 12, 2018, offering a guide for mutual fund managers interested in launching alternative mutual funds, according to a press release distributed via CNW. The document, titled "Liquid Alternative Funds: A Guide for Mutual Fund Managers," addresses how recent regulatory reforms from the Canadian Securities Administrators now allow hedge-fund-style investment strategies to operate within Canadian mutual fund prospectus rules. The bank's stated objective is to make these alternative investments more accessible to retail investors.
Daniel Dorenbush, Managing Director and Head of Canadian Prime Services at Scotiabank, said the bank has long supported hedge fund and alternative asset managers through a full-service global prime services operation. He added that as alternative investment products gain momentum in the Canadian retail space, Scotiabank is well positioned to partner with product manufacturers to bring new offerings to market.
The white paper was released by Scotiabank's Global Banking and Markets division. The press release notes that Scotiabank had assets of $947 billion as at July 31, 2018, and trades on the TSX and NYSE under the ticker BNS. Full details of the white paper's contents beyond the summary provided in the release were not available in the source material reviewed.
Daniel Dorenbush, Managing Director and Head of Canadian Prime Services at Scotiabank, said the bank has long supported hedge fund and alternative asset managers through a full-service global prime services operation. He added that as alternative investment products gain momentum in the Canadian retail space, Scotiabank is well positioned to partner with product manufacturers to bring new offerings to market.
The white paper was released by Scotiabank's Global Banking and Markets division. The press release notes that Scotiabank had assets of $947 billion as at July 31, 2018, and trades on the TSX and NYSE under the ticker BNS. Full details of the white paper's contents beyond the summary provided in the release were not available in the source material reviewed.
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