TORONTO, Nov. 12, 2019 /CNW/ - IA Clarington Investments Inc. ("iA Clarington") today announced that all mandates in the IA Clarington Inhance SRI suite of standalone mutual funds and all-in-one portfolios ("the Funds"), are now fossil fuel free.
The IA Clarington Inhance SRI lineup, sub-advised by socially responsible investing pioneer Vancity Investment Management Ltd. ("VCIM"), consists of four standalone mutual funds and three portfolio solutions:
Standalone mutual funds
- IA Clarington Inhance Bond SRI Fund
- IA Clarington Inhance Monthly Income SRI Fund
- IA Clarington Inhance Canadian Equity SRI Class
- IA Clarington Inhance Global Equity SRI Class
All-in-one portfolio solutions
- IA Clarington Inhance Conservative SRI Portfolio
- IA Clarington Inhance Balanced SRI Portfolio
- IA Clarington Inhance Growth SRI Portfolio
The Funds' fossil fuel-free mandate means the portfolio management team does not invest in the following:
- Oil, gas and coal producers
- Pipeline companies
- Natural gas distribution utilities
- Liquefied natural gas operations
"Climate change is arguably the greatest challenge of our time, and VCIM believes investment decisions can meaningfully advance the goal of mitigating the most dangerous consequences of human interference in the climate system," said Andrew Simpson, Portfolio Manager, VCIM.
The fossil fuel-free mandate is the culmination of an effort begun in 2015, when the VCIM portfolio management team divested from all fossil fuel producers in IA Clarington Inhance Global Equity SRI Class. Also in 2015, the team removed all heavy oil producers from IA Clarington Inhance Monthly Income SRI Fund and IA Clarington Inhance Canadian Equity SRI Class. The following year brought the launch of IA Clarington Inhance Bond SRI Fund, which has been fossil fuel free since its inception. "We're pleased to now manage a lineup that is fossil fuel free across the board, and at the same time fully diversified to help meet the financial goals of Canadian investors," said Mr. Simpson.
"We are very proud of our nearly decade-long partnership with VCIM, and look forward to continued collaboration with a team of portfolio managers who excel at helping environmentally conscious investors meet their financial goals in a way that aligns with their desire to combat the dangers of climate change," said Adam Elliott, Senior Vice-President, National Sales, iA Clarington.
Learn more about the IA Clarington Inhance SRI suite's fossil fuel-free mandate.
About IA Clarington Investments Inc.
A subsidiary of Industrial Alliance Insurance and Financial Services Inc.—Canada's fourth-largest life and health insurance company—iA Clarington offers a wide range of investment products, including actively managed mutual funds, managed portfolio solutions, Active ETF Series and socially responsible investments. As of September 30, 2019, iA Clarington more than $15 billion in assets under management. For more information, please visit iaclarington.com
About Vancity Investment Management Ltd.
Vancity Investment Management (VCIM) is a rapidly growing leader in responsible investing in Canada. We offer individual, institutional and mutual fund clients an integrated investment process that utilizes shareholder engagement and incorporates environmental, social and governance (ESG) analysis and traditional financial analysis in the construction and management of investment portfolios. For more information, please visit vcim.ca
Commissions, trailing commissions, management fees, brokerage fees and expenses all may be associated with mutual fund investments, including investments in exchange-traded series of mutual funds. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The iA Clarington Funds are managed by IA Clarington Investments Inc. iA Clarington and the iA Clarington logo are trademarks of Industrial Alliance Insurance and Financial Services Inc. and are used under license.
SOURCE IA Clarington Investments Inc.
For further information: Rob Martin, VP, Product Management & Marketing, iA Clarington Investments, [email protected], T: 416-860-9880 ext. 8070