Introduces Loomis, Sayles & Company as new sub-advisor for IA Clarington Global Tactical Income Fund
TORONTO, Feb. 13, 2015 /CNW/ - IA Clarington Investments Inc. ("IA Clarington" or the "Company") announced today it intends to appoint three portfolio managers to replace the current sub-advisor on the IA Clarington Tactical Income Fund, IA Clarington Tactical Bond Fund and IA Clarington Global Tactical Income Fund, subject to receipt of required approvals, including the approval of IA Clarington's independent review committee.
Dan Bastasic, Senior Vice-President, Investments, IA Clarington, will assume portfolio management responsibilities for IA Clarington Tactical Income Fund. Jeff Sujitno, Vice-President, Investments, IA Clarington, will assume portfolio management responsibilities for IA Clarington Tactical Bond Fund. It is intended that portfolio management responsibilities for IA Clarington Global Tactical Income Fund will be assumed by Loomis, Sayles & Company, L.P. ("Loomis Sayles"), a new sub-advisor relationship for IA Clarington.
"We developed our family of tactical income funds to provide investors with a unique and flexible approach to generate an attractive and stable level of income in various market environments," said David Scandiffio, President, IA Clarington Investments. "After careful review, we believe our investors will benefit from the added depth, strong track records and expertise that these new investment teams bring to the funds."
"The addition of Loomis Sayles will bring a highly regarded performance-driven firm to the IA Clarington stable of active portfolio managers," said Scandiffio. With more than US$230 billion in global assets under management, Loomis Sayles, founded in 1926, has a long, successful history managing global income portfolios. The global equity & income portfolio management team offers superior global diversification and flexibility. "We are very excited to be able to offer Canadian investors access to Loomis Sayles' depth of investing experience, deep research and strong long-term track record," said Scandiffio.
Dan Bastasic joined IA Clarington in 2011 and manages IA Clarington's Strategic family of funds. He has more than 15 years of experience managing income focused portfolios across both equities and fixed income. He is an award-winning manager and has an impressive track record managing asset allocation portfolios that deliver consistent returns, income and downside protection.
Jeff Sujitno joined IA Clarington in 2013 and manages IA Clarington's Core Plus Bond Fund and Floating Rate Income Fund, which has been a top fund in its category since its inception. Mr. Sujitno has extensive experience managing portfolios that focus on corporate credit, high yield bonds and other fixed income securities.
In conjunction with the change in portfolio managers, the investment strategies of the IA Clarington Tactical Income Fund, IA Clarington Tactical Bond Fund and IA Clarington Global Tactical Income Fund are intended to be updated.
About IA Clarington
IA Clarington Investments Inc., a subsidiary of Industrial Alliance Insurance and Financial Services Inc., markets a wide range of distinctive and outcome-based investments, including actively managed mutual funds, portfolio solutions, socially responsible investments and target date funds. As at January 31, 2015, IA Clarington has over $15 billion in assets under management and distributes its investment solutions to retail investors through advice-based distribution channels. For more information please visit www.iaclarington.com.
SOURCE IA Clarington Investments Inc.
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