IA Clarington Aston Hill Tactical Yield Fund raises an additional $3 million
for total gross proceeds of $103 million as the Over-Allotment Option is
exercised by the Agents

TORONTO, April 30 /CNW/ - IA Clarington Investments Inc. (the "Manager") is pleased to announce that IA Clarington Aston Hill Tactical Yield Fund (the "Fund") successfully issued an additional 300,000 Trust Units and 300,000 Warrants pursuant to the exercise by the Agents of their Over-Allotment Option. Total gross proceeds are now $103 million. The Units issued at closing of the initial public offering on April 19, 2010 together with the Units issued pursuant to the Over-Allotment Option, have separated into Trust Units and Warrants and now trade on the Toronto Stock Exchange independently under the symbols TYF.UN and TYF.WT, respectively.

The initial monthly cash distribution of $0.025 per Trust Unit is anticipated to be payable on May 14, 2010 to Unitholders of record on April 30, 2010. Additionally, each Warrant entitles the holder to purchase one Trust Unit at the subscription price of $10.00 per Trust Unit on or before 5:00 p.m. (Toronto time) on April 29, 2011.

The Fund's investment objectives are:

    
    -  to provide unitholders with monthly cash distributions, initially
       targeted to be 6.0% per Trust Unit per annum on the original offering
       price of $10.00 per Unit ($0.05 per Trust Unit per month or $0.60 per
       Trust Unit per annum); and
    -  to maximize total returns for unitholders, consisting of both cash
       distributions and capital appreciation, while reducing risk and
       preserving capital.
    

The Fund's investment strategy is to invest in an actively managed, diversified portfolio comprised primarily of:

    
    -  Canadian common and preferred equity securities and income trust units
       that provide a consistent and stable source of current income; and
    -  fixed income securities, including high yield corporate debt
       securities, cash and cash equivalents.
    

Each of the equity portion and the fixed income portion generally will represent between one-third and two-thirds of the portfolio, with the allocation at any time being determined by the portfolio manager based on its view of market opportunities at the time of investment.

The Fund will be actively managed by Catapult Financial Management Inc., and Ben Cheng will be the lead portfolio manager responsible for the Fund.

On or before April 30, 2012, the Fund will either:

    
    -  convert to an open-ended mutual fund, or
    -  merge on a tax-deferred basis with an open-ended mutual fund to be
       managed by the Manager or an affiliate of the Manager.
    

The syndicate of agents was co-led by CIBC World Markets Inc. and RBC Capital Markets and included BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Financial Ltd., Desjardins Securities Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Industrial Alliance Securities Inc. and Rothenberg Capital Management Inc.

About IA Clarington Investments Inc.

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. IA Clarington managed more than $8.2 billion in assets as at March 31, 2010.

Catapult Financial Management Inc.

Catapult is a wholly-owned subsidiary of Aston Hill Financial Inc. ("Aston Hill"), which is listed on the TSX Venture Exchange under "AHF". As at March 31, 2010, Aston Hill had approximately $1.8 billion in assets under management.

The IA Clarington Funds and IA Clarington Target Click Funds are managed by IA Clarington Investments Inc. IA Clarington and the IA Clarington logo are trademarks of Industrial Alliance Insurance and Financial Services Inc. and are used under license.

All capitalized terms used in this news release but not defined have the meanings attributed to such terms in the prospectus of the Fund dated March 29, 2010.

SOURCE IA Clarington Investments Inc

For further information: For further information: Eric Frape, Senior Vice-President, Product and Business Development, IA Clarington Investments Inc., (416) 860-9880, Toll-Free 1-888-860-9888, Email: eric.frape@iaclarington.com, www.iaclarington.com

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IA Clarington Investments Inc

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