TORONTO, Nov. 2 /CNW/ - IA Clarington Investments Inc. ("IA Clarington"), today announced that it has changed its policies regarding the waiver and absorption of fees and expenses applicable to the Series A, B and X units of IA Clarington Money Market Fund (the "Fund").
With the current low interest rate environment, IA Clarington has decided to temporarily waive a portion of its management fee in order to ensure that the Fund does not see a negative yield, and permit it to possibly see a positive yield. In order to facilitate this waiver of IA Clarington's management fee, it will reduce the trailer fee applicable to the Series A, B and X units of the Fund to 0%, effective December 16, 2009. It will continue to monitor its management fee and applicable trailer fees in light of market conditions and may discontinue or change its fee waiver or trailer fee rate from time to time as it deems fit.
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 just over $7.1 billion in assets as at October 31, 2009.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. IA Clarington is a trademark of IA Clarington Investments Inc. and the IA Clarington logo is a trademark of Industrial Alliance Insurance and Financial Services Inc.
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: email@example.com