IA Clarington announces securityholder approval for fund mergers

TORONTO, Jan. 14, 2014 /CNW/ - IA Clarington Investments Inc. ("IA Clarington" or "the Company") is announcing that securityholders have approved a proposal to merge eight mutual fund trusts into their corresponding corporate class versions.

At a special meeting held in Toronto on January 10, 2014, securityholders of each of the continuing funds voted to approve the mergers, which did not involve changing any investment objectives of the funds. IA Clarington is lowering the management fees and MERs of the continuing funds to reflect the enhanced cost efficiency within its line-up.

Terminating Fund     
Distinction Prudent Portfolio    
Distinction Conservative Portfolio    
Distinction Balanced Portfolio    
Distinction Growth Portfolio   
Distinction Bold Portfolio    
IA Clarington Canadian Leaders Fund   
IA Clarington Canadian Growth Fund   
IA Clarington Dividend Growth Fund 
                         Continuing Corporate Class Fund
Distinction Prudent Class
Distinction Conservative Class
Distinction Balanced Class
Distinction Growth Class
Distinction Bold Class
IA Clarington Canadian Leaders Class
IA Clarington Canadian Growth Class
IA Clarington Dividend Growth Class
                           

"Investors in the terminating funds in non-registered accounts will now benefit from the ability to switch within the corporate class without triggering a taxable disposition and the mergers enable us to streamline our line-up and reduce the duplication of funds," said IA Clarington President David Scandiffio.

The mergers will be executed after the close of business on or about February 7, 2014.

About IA Clarington
IA Clarington Investments Inc., a subsidiary of Industrial Alliance Insurance and Financial Services Inc., markets a wide range of investment products, including mutual funds and segregated funds managed by leading portfolio advisors. The Company's philosophy is to select best in class money managers from across Canada and around the world to manage its funds. IA Clarington managed approximately $14.8 billion in assets as at December 31, 2013. www.iaclarington.com

SOURCE IA Clarington Investments Inc.

For further information:

Crystal Quast
Senior Director, Media Relations
TMX Equicom
(416) 815-0700 ext. 266
CQuast@tmxequicom.com