IA Clarington Hires Award-Winning Portfolio Manager Dan Bastasic

TORONTO, May 30, 2011 /CNW/ - IA Clarington Investments Inc. ("IA Clarington"), a wholly owned subsidiary of Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance"), today announced the hiring of award-winning portfolio manager Dan Bastasic as Senior Vice President, Portfolio Manager.

"We are extremely pleased to add a talented money manager like Dan Bastasic to our team," said David Scandiffio, President, IA Clarington. "Dan's hiring further strengthens our capabilities in the large and growing market for income and equity income mandates. We see tremendous opportunities in this segment, driven by Canadian investors' appetite for income. Dan will bolster our roster of income-oriented portfolio managers, which includes Aston Hill Financial, Industrial Alliance Investment Management, and Leon Frazer & Associates."

In his most recent role, Mr. Bastasic was lead portfolio manager for the high yield and income-oriented equity mandates and co-lead of the fixed income team for a large Canadian investment firm. In this position, he managed several mutual funds with a combined $2.8 billion in assets under management ("AUM"). Mr. Bastasic has more than 15 years of investment experience. He has an MBA and holds a Chartered Financial Analyst (CFA) designation.

"Dan's hiring gives us additional capacity to build on our positive momentum and increase our AUM," added Scandiffio.  "We expect to introduce new funds for Dan to manage that will be consistent with his approach and complement our other successful income-oriented products, including those managed by Ben Cheng of Aston Hill."

IA Clarington is one of the fastest growing mutual fund companies in Canada. It currently manages more than $10.6 billion in assets, an increase of almost 40% since December 31, 2009.

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. 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 $10.6 billion in assets as at March 31, 2011. www.iaclarington.com

SOURCE IA Clarington Investments Inc.

For further information:

Crystal Quast
Senior Director, Media Relations
Equicom, a TMX Group Company
(416) 815-0700 ext. 252


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