IA Clarington changes its line-up

IA Clarington Investments has filed a preliminary prospectus for two new corporate class funds: IA Clarington Strategic Income Class and IA Clarington Strategic Corporate Bond Class, both of which will be managed by Dan Bastasic.

Both will provide tax-efficient income paid on a monthly basis through Series T investment options. The distribution policy for Series A units of IA Clarington Strategic Corporate Bond Fund has been amended to a monthly payout structure.

“We are committed in providing clients with more flexible options to access our award-winning portfolio management team,” says David Scandiffio, president of IA Clarington. “The addition of these mandates to our corporate class structure gives advisors tax-efficient solutions to use with their clients, something which is critically important in the financial planning process.”

The new funds are expected to launch by the end of January 2012, pending regulatory approval.

The company also announced that it will assume full portfolio management duties for its line-up of IA Clarington Target Click Funds, replacing BNP Paribas Investment Partners Canada Limited, effective December 5, 2011. Industrial Alliance Insurance and Financial Services Inc. will assume the guarantee for the funds.

IA Clarington has also announced plans to reopen Series A units of IA Clarington Canadian Dividend Fund strictly to allow switches from Series X units of the fund.

Staff

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