TORONTO, June 29, 2015 /CNW/ - IA Clarington Investments Inc. ("IA Clarington" or the "Company") announced today it is making enhancements to its Elite Program allowing for further flexibility and additional fee discounts for investors. IA Clarington originally launched its Elite Program for high net worth investors in October 2014.
With the launch of the new Series FE, investors who are in fee-for-service accounts are eligible for significant fee discounts with a minimum investment of $100,000 in a single IA Clarington fund in a single account. The new series provides all of the benefits of the Elite Program including tiered rebates as assets grow as well as lower initial management fees.
"We recognize advisors are increasingly adopting fee-for-service models and in response are enhancing our Elite Program to provide qualifying investors with premium pricing. We continue to offer fee discounts back to dollar one," says Eric Frape, Senior Vice President, Products and Investments. "Our Elite Program allows advisors to do business the way they want with competitive pricing benefits for their clients."
Also effective June 29, 2015, IA Clarington is introducing additional Series available for purchase. IA Clarington U.S. Dividend Growth Fund will now be available in Series FE, L, L6, T6, F6. U.S. dollar (USD) purchase options for IA Clarington U.S. Dividend Growth Fund, Series A, E, F, F6, FE, L, L6, P, and T6 will also be available. Series L6 is being launched for the IA Clarington Monthly Income Balanced Fund. Effective June 15, 2015, IA Clarington lowered the risk classification on the IA Clarington Target Click 2020 Fund to low risk from low to medium. Additionally, the Company announced effective July 1, 2015, that it is hard capping U.S. dollar purchase options for four of its funds; IA Clarington Sarbit U.S. Equity Fund, IA Clarington Floating Rate Income Fund, IA Clarington Core Plus Bond Fund, and IA Clarington Strategic U.S. Growth & Income Fund.
Lastly, IA Clarington has elected not to renew the simplified prospectus of the IA Clarington Canadian Mid Cap Dividend Fund. Effective June 1, 2015 all Series are no longer available for purchase, with the exception of Series I and O, which remain open, subject to investors meeting the necessary eligibility requirements.
About IA Clarington
IA Clarington Investments Inc., a subsidiary of Industrial Alliance Insurance and Financial Services Inc., markets a wide range of distinctive and outcome-based investments, including actively managed mutual funds, portfolio solutions, socially responsible investments and target date funds. As at May 31, 2015, IA Clarington has over $15 billion in assets under management and distributes its investment solutions to retail investors through advice-based distribution channels. For more information please visit www.iaclarington.com.
SOURCE IA Clarington Investments Inc.
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