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.
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