TORONTO, March 27, 2013 /CNW/ - IA Clarington Investments Inc. ("IA Clarington" or the "Company") today announced the launch of IA Clarington Sarbit Activist Opportunities Class (the "Fund"). Managed by portfolio sub-advisor Larry Sarbit, the Fund is the first of its kind in Canada as it will invest in companies where an activist investor has disclosed an intention to change or influence the management or control of a company.
"This fund is in keeping with our philosophy of providing investors with actively managed investment solutions, and we're extremely pleased to be adding it to our line-up as it gives retail investors access to an area of the market place that hasn't been available to them until now," said David Scandiffio, President of IA Clarington. "Larry has an excellent track record of success, and he's well equipped to find the opportunities within the activist investment universe."
Mr. Sarbit started his investment career in 1979 as an analyst with Richardson Securities. He is the founder and CIO of Sarbit Advisory Services, and currently manages the IA Clarington Sarbit U.S. Equity Fund and Class, the former being a top quartile performer since its launch in 2010.
"Significant shareholder value is created when an attractively priced business deploys its assets in an efficient manner," says Mr. Sarbit, a 30-year financial industry veteran. "Investor activism can be a catalyst in unlocking the true value of a business, should these inefficiencies exist."
For financial advisors wishing to learn more about the IA Clarington Sarbit Activist Opportunities Class, please register here for the upcoming April 18th webcast.
About IA Clarington
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 best in class money managers from across Canada and around the world to manage its funds. IA Clarington managed approximately $12.3 billion in assets as at February 28, 2013. www.iaclarington.com
SOURCE: IA Clarington Investments Inc.
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