TORONTO, Nov. 4, 2019 /CNW/ - IA Clarington Investments Inc. ("iA Clarington" or "the Firm") today announced:
- the launch of IA Clarington Loomis Global Equity Opportunities Fund;
- the addition of five leading third-party portfolio managers and mandates to our flagship managed asset program, and its renaming from IA Clarington Managed Portfolios to iA Wealth Managed Portfolios;
- the launch of Active ETF Series for IA Clarington Floating Rate Income Fund, IA Clarington Global Allocation Fund and IA Clarington Strategic Income Fund; and
- the planned departure of Jeff Sujitno from iA Clarington and the establishment, subject to all requisite approvals, of a sub-advisory relationship with Mr. Sujitno's newly formed investment management company, Wellington Square,1 to ensure seamless continuity in the management of IA Clarington Core Plus Bond Fund, IA Clarington Floating Rate Income Fund and IA Clarington U.S. Dollar Floating Rate Income Fund.
IA Clarington Loomis Global Equity Opportunities Fund
Derived from the equity component of IA Clarington Global Allocation Fund, and modeled after a strategy2 that has helped clients of Loomis Sayles3 across the globe achieve their financial goals, IA Clarington Loomis Global Equity Opportunities Fund is an actively managed, concentrated global equity solution that seeks to provide investors with superior potential for risk-adjusted outperformance. Key features of the Fund include:
- an unconstrained, high-conviction strategy that aims to identify high-quality companies with excellent prospects for attractive total return potential;
- a disciplined, bottom-up approach to security selection; and
- a concentrated portfolio of 35–65 holdings, representing Loomis Sayles' best ideas.
"At Loomis Sayles, every investment decision we make is rooted in the disciplined, research-driven approach that has defined our firm since its founding over 90 years ago. We are very excited to expand our partnership with iA Clarington and look forward to the opportunity to provide Canadian investors with a truly active global equity solution," said Eileen Riley, Co-Portfolio Manager at Loomis Sayles.
"Loomis Sayles is one of the oldest and most highly respected investment management firms in the world, and iA Clarington is privileged to be the exclusive Canadian provider of a concentrated global equity strategy that complements the highly successful IA Clarington Global Allocation Fund," said Rob Martin, Vice-President, Product Management & Marketing, iA Clarington.
To learn more about the Fund and Loomis Sayles, speak with your financial advisor or visit iaclarington.com/GEOF
iA Wealth Managed Portfolios
Formerly known as IA Clarington Managed Portfolios, the Firm's flagship managed asset program has been renamed iA Wealth Managed Portfolios and will now feature underlying fund components from a much broader range of third-party investment managers. The new additions are leading mandates from:
- Dynamic Funds;
- Fidelity Investments Canada ULC;
- Mackenzie Investments;
- Manulife Investment Management; and
- PIMCO Canada Corp.
These mandates complement existing portfolio components managed by:
- Loomis Sayles;
- MacKay Shields LLC;
- PineBridge Investments LLC;
- QV Investors Inc;
- iA Investment Management Inc; and
- iA Clarington
"The addition of several industry-leading mandates provides even greater flexibility for me and my team as we navigate an increasingly complex and volatile global market landscape," said Clément Gignac, First Vice-President, Diversified Funds & Chief Economist, iA Investment Management Inc. and lead portfolio manager for the iA Wealth Managed Portfolios.
"We are very excited to provide Canadian investors and their advisors with a comprehensive, all-in-one portfolio solution that now features an even wider range of exceptionally talented portfolio management teams," said Adam Elliott, Senior Vice-President & National Sales Manager, iA Clarington.
A number of changes have also been made to the asset allocation parameters of the portfolios, details of which may be found at iaclarington.com/enhancements
In line with these changes, the individual portfolios have been renamed as follows:
IA Clarington Conservative Portfolio
IA Wealth Conservative Portfolio
IA Clarington Moderate Portfolio
IA Wealth Moderate Portfolio
IA Clarington Balanced Portfolio
IA Wealth Balanced Portfolio
IA Clarington Growth Portfolio
IA Wealth Growth Portfolio
IA Clarington Maximum Growth Portfolio
IA Wealth High Growth Portfolio
For more information on iA Wealth Managed Portfolios, speak with your financial advisor or visit iaclarington.com/iAWMP
Active ETF Series for three additional mandates
Active ETF Series provide access to the same strategies, exposures and portfolio managers as iA Clarington's standard mutual fund series, but in an investment that trades like a stock. In addition to IA Clarington Core Plus Bond Fund (TSX: ICPB), IA Clarington Global Bond Fund (TSX: IGLB) and IA Clarington Emerging Markets Bond Fund (TSX: IEMB), Active ETF Series are now available for the following iA Clarington funds:
- IA Clarington Floating Rate Income Fund (TSX: IFRF). Managed by Jeff Sujitno, the Fund seeks to generate a stream of current monthly income by investing primarily in senior floating rate loans, other floating rate securities and debt obligations of investment grade and non-investment grade North American and global corporate issuers. The management fee for the ETF series is 0.70%.4
- IA Clarington Global Allocation Fund (TSX: IGAF). Sub-advised by Loomis Sayles, the Fund seeks to provide a consistent stream of income and capital appreciation by investing primarily in equity securities, fixed-income investments and money market instruments from around the world. The management fee for the ETF series is 0.85%.4
- IA Clarington Strategic Income Fund (TSX: ISIF). Managed by Dan Bastasic, the Fund seeks to provide a consistent stream of income and capital appreciation by investing primarily in Canadian equity and fixed-income investments. The management fee for the ETF series is 0.70%.4
The fee structure of Active ETF Series is the same as Series F, the Funds' fee-based series.
Exchange-traded series for each of IA Clarington Floating Rate Income Fund, IA Clarington Global Allocation Fund and IA Clarington Strategic Income Fund will begin trading on the Toronto Stock Exchange when the markets open today.
"Advisors and self-directed investors who prefer to transact on an exchange now have access to three of iA Clarington's most popular and successful mandates," said Mr. Martin.
Speak with your financial advisor or visit iaclarington.com/ETF to learn more about Active ETF Series.
Jeff Sujitno to form Wellington Square
iA Clarington today announced the planned departure of portfolio manager Jeff Sujitno, who, together with his core portfolio management team, is leaving the company to establish a new investment management firm, Wellington Square.
Through a sub-advisory relationship between iA Clarington and Wellington Square, Jeff will continue to manage IA Clarington Core Plus Bond Fund, IA Clarington Floating Rate Income Fund and IA Clarington U.S. Dollar Floating Rate Income Fund. There will be no change to the investment objectives, strategies or fees of these mandates and no action is required by investors or advisors.
The change is subject to regulatory approval and will have no impact for investors or advisors.
"Establishing our own firm makes it possible for us to offer our unique strategies to institutional investors, while still allowing us to collaborate with iA Clarington to bring stability and steady, predictable income to the portfolios of retail investors," said Mr. Sujitno.
"Jeff's disciplined, repeatable investment process and exceptional track record have earned the trust of investors and advisors across Canada. We are very pleased that, with the planned establishment of Wellington Square, there will be no change to the objectives and strategies of the funds Jeff manages for iA Clarington. For investors and advisors, it's business as usual," said Mr. Elliott.
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 has over $15 billion in assets under management. For more information, please visit iaclarington.com
About iA Investment Management Inc.
Industrial Alliance Investment Management Inc. (iA Investment Management) operates as a subsidiary of Industrial Alliance Insurance and Financial Services Inc. It was founded in 2004 and is based in Quebec. With over 100 investment professionals, iA Investment Management manages general portfolios, segregated funds and mutual funds for the Industrial Alliance group. As of June 30, 2019, iA Investment Management has almost $97 billion in assets under management.
About iA Wealth
iA Wealth provides a full range of financial advisory and wealth management services to Canadian investors though iA Securities Inc., Investia Financial Services Inc. and FundEX Investments Inc. iA Wealth's investment fund manufacturing arm, IA Clarington Investments Inc., offers a wide range of products, including actively managed mutual funds, managed portfolio solutions, Active ETF Series and socially responsible investments. iA Wealth strives to be the leader in creating and preserving wealth for individual Canadians working with independent advisors.
About Loomis, Sayles & Company, L.P.
Since 1926, Loomis, Sayles & Company has helped fulfill the investment needs of institutional and mutual fund clients worldwide. The firm's performance-driven investors integrate deep proprietary research and integrated risk analysis to make informed, judicious decisions. Teams of portfolio managers, strategists, research analysts and traders collaborate to assess market sectors and identify investment opportunities wherever they may lie, within traditional asset classes or among a range of alternative investments. Loomis Sayles has the resources, foresight and the flexibility to look far and wide for value in broad and narrow markets in its commitment to deliver attractive sustainable returns for clients. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages $286 billion USD* in assets (as of September 30, 2019).
*Includes the assets of Loomis, Sayles & Co., L.P., and Loomis Sayles Trust Company, LLC. Loomis Sayles Trust Company is a wholly owned subsidiary of Loomis, Sayles & Company, L.P.
1Refers to Wellington Square Capital Partners Inc. and Wellington Square Advisors Inc. Upon receipt of all requisite approvals, the sub-advisor of IA Clarington Core Plus Bond Fund, IA Clarington Floating Rate Income Fund and IA Clarington U.S. Dollar Floating Rate Income Fund will be changed to Wellington Square Capital Partners Inc. and Wellington Square Advisors Inc. will be added as a sub-advisor.
2Refers to Loomis Sayles Global Equity Opportunities, which is not available for sale in Canada. The purpose of the information presented on the Loomis Sayles Global Equity Opportunities strategy is to indicate the portfolio manager's ability to manage a fund that may have similar investment objectives and/or strategies to the IA Clarington Loomis Global Equity Opportunities Fund. It does not imply similar or future performance. There may be differences between the funds that may affect performance, including but not limited to fee structures.
3Loomis Sayles is the trade name of Loomis, Sayles & Company, L.P. Effective February 23, 2015, the sub-advisor of IA Clarington Global Allocation Fund changed from Aston Hill Asset Management Inc. to Loomis, Sayles & Company, L.P. and IA Clarington Investments Inc.
4Management fees do not include administration fees and applicable taxes.
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