Anchor Managed Funds Launches Offering

TORONTO, Oct. 31, 2012 /CNW/ - Scotia Managed Companies Administration Inc. is pleased to announce the launch of three new mutual funds: the Anchor Managed Defensive Income Fund, the Anchor Managed Dividend Growth Fund and the Anchor Managed Defensive Income Fund (the "Funds").

The Anchor Managed Defensive Income Fund is for investors who are investing for the long term and want regular income, capital preservation and long term capital growth potential from exposure to investments in equities, preferred shares and debt securities and debt securities of large Canadian companies and REITS.

The Anchor Managed Dividend Growth Fund is for investors who are investing for the long term and want regular income, long term capital growth potential from exposure to investments in equities of large Canadian companies and REITs, but also, at certain times, in Canadian preferred shares and debt securities, and to maximize after-tax income by taking advantage of the Canadian dividend tax credit (which only applies to investments in non-registered accounts),

The Anchor Managed High Income Fund is for investors who are investing for the long term and want regular income, long term capital growth potential from exposure to investments in high dividend yielding equities of large TSX listed Canadian companies and REITs, and to maximize after-tax income by taking advantage of the Canadian dividend tax credit (which only applies to investments in non-registered accounts).

The Funds will not use derivatives, leverage or short selling to achieve their investment objectives.

Each Fund will offer Class A Units and the Class F Units which can be purchased or redeemed on a weekly basis at their net asset value.  These units are not listed on any stock exchange.

Units of the mutual funds are eligible investments for all registered accounts and TFSAs.

The portfolio adviser for the Funds is ScotiaMcLeod; Nick Majendie, who is employed by ScotiaMcLeod, is the individual portfolio manager responsible for managing the investment portfolio for each of the Funds.  Nick Majendie brings over 25 years of experience managing discretionary managed accounts.

Mr. Majendie is Chartered Accountant and alumni of Oxford University in the U.K.

The Funds are currently available for sale (on FundSERV), exclusively from Scotia McLeod and DWM Securities Inc.

You can find additional information about each fund in the Simplified Prospectus and Annual Information Form which can be found on our website at www.scotiamanagedcompanies.com

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The manager of the Funds, Scotia Managed Companies Administration Inc., is a wholly owned subsidiary of Scotia Capital Inc., a broker-dealer registered in all of the provinces and territories of Canada.  ScotiaMcLeod is a division of Scotia Capital Inc.  Scotia Capital Inc. is a subsidiary of The Bank of Nova Scotia.  DWM Securities Inc. is also a subsidiary of The Bank of Nova Scotia.

SOURCE: Anchor Managed Defensive Income Fund

Investor Relations
Anchor Managed Funds
Tel: [phone]
Website: www.scotiamanagedcompanies.com