TORONTO, Sept. 26, 2011 /CNW/ - IA Clarington Investments Inc. ("IA
Clarington" or the "Company"), today announced the launch of the IA
Clarington Strategic Corporate Bond Fund. The Fund will focus on
corporate and high yield fixed income securities with an expected
average credit rating of between B and BBB and will be run by
award-winning portfolio manager Dan Bastasic.
Mr. Bastasic recently joined IA Clarington from Mackenzie Financial
Corporation, where he managed several funds with combined assets of
more than $2.8 billion, more than half of which was in the Mackenzie
Sentinel Corporate Bond Fund.
"The economic realities facing investors have changed dramatically,"
said Mr. Bastasic. "An aging population combined with historically low
interest rates creates a significant challenge for those in need of
income. Opportunities are present in the corporate and high yield
credit markets that allow us to seek out equity-like return profiles
with considerably less risk than most equity investments. I believe
that our active approach to providing an alternative to traditional
fixed income vehicles will create more viable options for investors."
The fund offers a variety of purchase options, including Series A,
Series T and Series F securities, as well as IA Clarington's new elite
pricing series, Series E, which offers investors a reduction in fees
for a minimum investment of $150,000.
Dan Bastasic currently also manages the IA Clarington Strategic Income
Fund and the IA Clarington Strategic Equity Income Fund, the underlying
fund of both the IA Clarington Dividend Income GIF and the IA
Ecoflextra Dividend Income Fund.
"We're extremely pleased to offer investors a successful and experienced
portfolio manager like Dan and we believe the IA Clarington Strategic
Corporate Bond Fund will be a fantastic complement to our existing
income-oriented products," said Eric Frape, Senior Vice President of
Product and Business Development. "We see exceptional growth
opportunities in income-oriented products, driven primarily by Canadian
investors' appetite for income."
Income-oriented funds represented over 60% of the Canadian mutual fund
industry's assets as of March 31, 2011, according to an IA Clarington
calculation based on statistics from The Investment Funds Institute of
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 outstanding money managers from across Canada and around the
world to manage its funds. IA Clarington managed more than $10.3
billion in assets as at August 31st, 2011. www.iaclarington.com
SOURCE IA Clarington Investments Inc.
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