IA Clarington Target Click 2015 Fund, closed to new sales

TORONTO, Nov. 4, 2011 /CNW/ - IA Clarington Investments Inc. ("IA Clarington") today announced that it is closing the IA Clarington Target Click 2015 Fund (the "Fund") to new sales effective 4 p.m. ET on November 11, 2011.

IA Clarington Target Click Funds are global balanced funds that guarantee their highest month-end value at maturity. As each Target Click Fund approaches its respective maturity date, its allocation to fixed income increases and its allocation to equities is reduced. This natural change in the funds allocation is carried out to protect clients as the Funds near their maturity.

"Since their inception, the Target Click Funds have provided investors with a unique combination of growth and security, two things which are highly sought after, particularly in volatile markets," said David Scandiffio, President, IA Clarington Investments Inc. "The Target Click Funds have delivered as designed, with the Target Click 2015 Fund outperforming many global balanced funds and with over 97% of all unitholders in a gain position."

At this point, however, the persistent and unprecedented low interest rate environment and shorter term to maturity of the shortest date fund, the IA Clarington Target Click 2015 Fund, requires the majority of the Fund's assets to be invested in federal and provincial strip bonds in order to meet its guarantee obligation, leaving very little exposure to global equities.

In order to protect the exposure of existing investors, the IA Clarington Target Click 2015 Fund will be closed to new investors at this time, IA Clarington will commence waiving a portion of its management fees and will continue to actively manage the MER.

The other IA Clarington Target Click Funds have higher equity exposure and will remain open for sale. They provide investors with the security of knowing their investments are protected, provided they hold the Funds to maturity, while at the same time offering exposure to international equity markets.

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 $9.9 billion in assets as at September 30, 2011. www.iaclarington.com

SOURCE IA Clarington Investments Inc.

For further information:

Tim Foran
Account Executive
Equicom, a TMX Group Company
(416) 815-0700 ext. 251
Tforan@equicomgroup.com


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