TORONTO, Nov. 29, 2013 /CNW/ - JovFinancial Solutions Inc. ("JovFinancial"), the manager of the JOV LEON FRAZER BOND FUND, the JOV LEON FRAZER DIVIDEND FUND, the JOV LEON FRAZER PREFERRED EQUITY FUND, the JOV HAHN CONSERVATIVE ETF PORTFOLIO, the JOV HAHN INCOME & GROWTH ETF PORTFOLIO, the JOV HAHN GROWTH ETF PORTFOLIO, the JOV CANADIAN EQUITY CLASS of Jov Corporate Funds Ltd., and the JOV LEON FRAZER ENHANCED OPPORTUNITIES FUND INC. (the "Funds"), announces that, following securityholder approval at the Funds' Special Meeting of Securityholders held today, the securityholders of each of the Funds have approved a change of manager of the Funds from JovFinancial to IA Clarington Investments Inc. ("IA Clarington") pursuant to a planned amalgamation of JovFinancial and IA Clarington anticipated to take place in early 2014, subject to receipt of all necessary authorizations and approvals. The merged company will continue as IA Clarington Investments Inc.
In addition to this change of manager, further potential changes to the Funds will be considered including the possible integration of the wholesale and client support system used by JovFinancial into that of IA Clarington and the possible exchangeability between the Funds and the IA Clarington mutual funds. It is also anticipated that Philip Armstrong and J. Russell Lindsay will resign from the board of directors of JovFinancial, and David Scandiffio and Andrew Dalglish will be appointed as directors, such that the board of directors of JovFinancial will be comprised of Mark Arthur, David Scandiffio and Andrew Dalglish.
About JovFinancial Solutions Inc.
JovFinancial is an investment fund manager and member of the Industrial Alliance group of companies. JovFinancial manages in excess of $255 million of client assets. The line-up of quality investment products includes one of Canada's first family of mutual funds that features a tactical investment approach by investing in exchange traded funds (ETFs).
SOURCE: JovFinancial Solutions Inc.
For further information:
Grant Rush, President, JovFinancial Solutions Inc., 1-877-273-2156 ext. 7254