TORONTO, July 19 /CNW/ - IA Clarington Investments Inc. (the "Manager") is pleased to announce the introduction of IA Clarington Tactical Bond Fund and Class, IA Clarington Short-Term Bond Fund, IA Clarington Energy Class and IA Clarington Global Tactical Income Class.
Both IA Clarington Tactical Bond Fund and IA Clarington Tactical Bond Class seek to achieve a steady flow of monthly income by investing in a mix of high quality Canadian fixed income securities as well as investment grade and higher yielding securities of North American corporate issuers. The portfolio manager, Ben Cheng of Catapult Financial Management Inc. ("Catapult Financial"), has the flexibility within these portfolios to make broad adjustments in the allocation between higher yielding securities and higher quality securities, depending on market outlook.
The IA Clarington Energy Class seeks to provide long-term capital growth primarily through investments in a diversified portfolio of energy, alternative energy or related companies. The Energy Class is expected to have a relatively concentrated portfolio of 40-60 holdings, and will primarily invest in equity and equity-related securities of companies of all market capitalizations that are involved in the exploration, development, production and distribution of oil and gas and other related activities in the Canadian and global energy resource sector.
The Energy Class will be sub-advised by Catapult Financial and the portfolio managers will be Joanne Hruska and Ben Cheng. They will employ fundamental "bottom-up" analysis, seeking to identify superior investment opportunities with the potential for capital appreciation over the long term. This is accomplished by seeking out undervalued companies backed by strong management teams and solid business models that can benefit from both industry and macro-economic trends.
The new IA Clarington Short-Term Bond Fund will be managed by Industrial Alliance Investment Management Inc. ("IAIM"). It seeks to achieve a steady flow of monthly income while simultaneously preserving investment capital and liquidity by investing primarily in debt securities of Canadian issuers maturing in five years or less and in short-term notes.
"We see these products as a nice complement to our line-up," says David Scandiffio, President, IA Clarington. "The IA Clarington Tactical Bond Fund fits well between our IA Clarington Bond Fund and our extremely popular IA Clarington Tactical Income Fund, also managed by Ben Cheng. With the rising demand for fixed income investments, the IA Clarington Short-Term Bond Fund is a good addition between money market investments and traditional bond funds. The IA Clarington Energy Class provides a more focused exposure to this definitively Canadian sector than any of our other products."
IA Clarington is also renaming IA Clarington Canadian Equity Fund to better reflect its mandate; it will now be known as IA Clarington Canadian Growth Fund, while IA Clarington Global Income Fund will now be known as IA Clarington Global Tactical Income Fund. This latter change has been made to better reflect the dynamic management style the sub-advisor applies to the Fund. IA Clarington has also launched IA Clarington Global Tactical Income Class, which replicates this fund in a corporate class structure.
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 $8.1 billion in assets as at June 30, 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 1, 2010, Aston Hill had approximately $1.7 billion in assets under management.
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: firstname.lastname@example.org, www.iaclarington.com