TORONTO, March 1, 2019 /CNW/ - IA Clarington Investments Inc. ("iA Clarington" or "the Firm") is pleased to announce the launch of two new funds:
- IA Clarington U.S. Equity Opportunities Fund, a long/short, active U.S. equity mandate sub-advised by MacKay Shields LLC ("MacKay Shields"), and
- IA Clarington International Equity Fund, a low-cost, active core solution managed by Industrial Alliance Investment Management Inc. ("iAIM")
With these new additions to its lineup, iA Clarington brings its high-conviction, active philosophy to the burgeoning liquid alternatives market and further expands its popular suite of attractively priced core solutions.
"Recent regulatory changes provide retail mutual funds with significantly wider latitude in the use of short selling, leverage and other alternative strategies. IA Clarington U.S. Equity Opportunities Fund, which features a long/short approach to equity investing, is a liquid alternative solution that offers Canadians a new way of generating enhanced return potential from the U.S. equity market," said Eric Frape, Senior Vice-President, Product & Investments, iA Clarington. "With the launch of IA Clarington International Equity Fund, iA Clarington continues to demonstrate its commitment to providing Canadian investors with active, diversified core solutions at attractively low fees," said Frape.
IA Clarington U.S. Equity Opportunities Fund
Modeled after one of MacKay Shields' most successful U.S.-based strategies,1 IA Clarington U.S. Equity Opportunities Fund aims to provide broad exposure to the U.S. equity market with potential for enhanced returns.
Key features:
- 130/30 approach to long/short investing
- Long-only sleeve aims for market-like returns and some alpha (100% of fund assets)
- Long/short market neutral sleeve aims for pure alpha generation (typically 30% long/30% short)
- Systematic investment process ensures high-conviction, rules-based security selection
- Diversified portfolio across sector, industry, style and market capitalization
- Comprehensive risk controls to help minimize downside potential
"MacKay Shields' long, successful track record of managing long/short strategies made them the logical choice for iA Clarington's new alternative equity offering," said Frape.
"We are very excited to bring to Canadian investors a strategy that for many years has been a key pillar of the value we bring to our U.S. clients," said Migene Kim, Managing Director & Portfolio Manager, MacKay Shields.
To learn more about IA Clarington U.S. Equity Opportunities Fund, visit iaclarington.com/130-30
IA Clarington International Equity Fund
The newest addition to iA Clarington's suite of low-cost, active core solutions managed by iAIM, IA Clarington International Equity Fund is modeled after an iAIM mandate2 with an attractive track record that spans more than 10 years.
Key features:
- Invests in industry-leading companies outside of Canada and the U.S.
- Growth at a reasonable price (GARP) investment style
- Combines bottom-up and top-down analysis for a comprehensive approach to security selection
- Diversified portfolio of 65–75 securities
"Last October, iA Clarington implemented significant fee reductions across a wide range of funds, including our active core solutions managed by iAIM. With the launch of IA Clarington International Equity Fund, we are reaffirming our commitment to providing Canadian investors with access to low-cost, actively managed core solutions," said Frape.
"We believe that an active approach is critical to successful investing, particularly when investing abroad. Our research-intensive approach aims to identify high-quality companies with excellent prospects for long-term growth," said Sevgi Ipek, Head of International Investments, iAIM.
To learn more about IA Clarington International Equity Fund and iA Clarington's suite of low-cost core active solutions, visit iaclarington.com/core
About IA Clarington Investments Inc.
An indirect wholly owned subsidiary of iA Financial Corp Inc. and a wholly owned 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 December 31, 2018, iA Clarington has more than $14 billion in assets under management. For more information, please visit iaclarington.com
About Industrial Alliance Investment Management Inc.
Industrial Alliance Investment Management Inc. 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, iAIM manages general portfolios, segregated funds and mutual funds for the Industrial Alliance group. As of December 31, 2018, iAIM has more than $89 billion in assets under management.
About MacKay Shields LLC
MacKay Shields LLC is an indirect wholly-owned subsidiary of New York Life Insurance Company and a wholly-owned subsidiary of New York Life Investment Management Holdings LLC. MacKay Shields is an equity and fixed income investment management firm with US$108 billion in assets under management, as of December 31, 2018, with offices in London, Los Angeles, Princeton and New York. MacKay Shields manages equity and fixed income strategies for high-net worth individuals, institutional clients, and mutual funds. For more information, visit: www.mackayshields.com
1Refers to the MacKay Shields U.S. Equity Opportunities composite. The purpose of the information presented on the MacKay Shields U.S. Equity Opportunities composite is to indicate the portfolio manager's ability to manage a strategy that may have a similar investment objective and/or strategy to the IA Clarington U.S. Equity Opportunities Fund. It does not imply similar or future performance. There may be differences between the fund and the composite strategy that may affect performance.
2Refers to the iA International Equity Fund, offered by iAIM. The purpose of the information presented on the iA International Equity Fund is to indicate the portfolio manager's ability to manage a fund that may have a similar investment objective and/or strategy to the IA Clarington International Equity 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.
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.
Rob Martin, VP, Product Management & Marketing, iA Clarington Investments, [email protected], T: 416-860-9880 ext. 8070
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