IA Clarington Appoints QV Investors to Global Equity Mandate
TORONTO, June 11, 2014 /CNW/ - IA Clarington Investments Inc. ("IA Clarington" or the "Company") today announced that QV Investors Inc. ("QV") will assume lead portfolio sub-advisory responsibility for the IA Clarington Global Dividend Fund (the "Fund") effective July 2, 2014 in place of the existing sub-advisor. IA Clarington is also announcing it intends to change the name of the Fund to IA Clarington Global Equity Fund.
QV is widely recognized in the Canadian investment community for their disciplined approach to investing, focusing on long-term ownership of companies and building portfolios that differ from the index to provide investors with superior risk-adjusted returns. With nearly $11 billion in assets under management, QV strives for excellence in security selection and portfolio management, centering their processes on "quality and value."
"QV has a proven track record managing global portfolios that is aligned with our active investment philosophy and consistent with the strong results they have delivered on the other funds they manage on behalf of our clients," said Eric Frape, Senior Vice President, Product and Investments at IA Clarington. "We are very pleased to be extending the relationship between IA Clarington and QV and adding this global mandate that will complement our broad selection of active investment solutions across Canadian, U.S. and global funds."
The portfolio managed by QV will be focused on 25-40 mid and large-cap names in developed countries around the world. QV has managed the IA Clarington Canadian Small Cap Fund since 1997 and was appointed to manage the IA Clarington Canadian Balanced Fund in 2009. Both mandates have been recognized at the Canadian Investment Awards.
"We remain optimistic with the long term prospects of investing in some of the world's strongest franchises and continue to see opportunities in the marketplace," said Joe Jugovic, QV President, CIO & CEO. "We are very excited to continue to expand our partnership with IA Clarington, one of our longest standing and highly respected clients," said Jugovic, who will be the lead portfolio manager for the Fund.
The investment strategies of the Fund will be amended to reflect QV's investment process. All changes are subject to regulatory approvals.
Segregated fund options are available through the IA Clarington GIF and IA Ecoflex programs.
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 $15 billion in assets as at May 31, 2014. www.iaclarington.com
About QV Investors
QV Investors Inc. is an independent, Canadian investment manager committed to providing excellence in security selection, portfolio management and client communication. Founded in 1996, QV stands for "Quality" and "Value". These characteristics resonate through the firm's culture and investment principles; from the analysis of investments to the competitive fees that it offers to clients. QV manages money on behalf of pension funds, insurance companies, mutual fund companies, foundations, endowments and high net worth private clients. www.qvinvestors.com
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