TORONTO, Oct. 21, 2014 /CNW/ - IA Clarington Investments announced today that it is launching the Elite Program, offering flexible options and fee discounts to high net worth investors, and also making changes to some of its series.
The IA Clarington Elite Program and preferred pricing, will launch on Monday, November 3, and applies to a full range of the company's funds and is intended for investors who have $100,000 or more invested.
"Today's increasingly transparent environment demands flexible and competitive options for investors and the advisors that work with them. Our announcement today reinforces our commitment to delivering pricing options that acknowledge investors when we are trusted to manage a large portion of their investments," says David Scandiffio, Executive Vice President, Industrial Alliance, and President of IA Clarington Investments.
Investors become eligible for preferred pricing once they hold $100,000 in Series E or P in a single IA Clarington fund in a single account. They receive additional discounts at $250,000 in a single account, and again at $500,000 and $1 million.
At the $250,000 level, investors can also participate in Family Pricing by linking eligible accounts to combine assets and take advantage of discounts.
"We've designed the Program to be very flexible and easy to understand with features such as automatic discounts back to dollar one," says Eric Frape, Senior Vice President, Product and Investment. "Our Elite Program allows advisors to do business the way they want with great pricing benefits for their clients."
IA Clarington put the needs of financial advisors and investors at the forefront when developing the Elite Program. It includes a variety of features designed to help advisors with the many challenges they face:
- Flexible purchase options make it easier for advisors to use the program with their particular business model and comply with new securities regulations on fee disclosure.
- Administrative work is minimized, since reductions are applied automatically, starting at $250,000, and the program is available in almost all fund options.
- The Elite Program includes all of IA Clarington's leading active managers, socially responsible investing choices, and tax-efficient payout options within a corporate class structure.
- Discounts are automatic, right back to dollar one.
Series redesignations on selected funds
In a related announcement, IA Clarington Investments Inc. says it will be capping and redesignating Series E and Series F purchase options on a number of its funds and launching replacement series.
The changes are designed to accommodate its new Elite Program for high net worth investors and better align its pricing within its overall fund line-up. The changes are scheduled for completion as of the close of business on Friday, October 24, 2014.
The funds and series listed below will be redesignated to a new "EX" or "FX" designation and will be replaced with a new Series E or F.
All of the series redesignations will be completed as non-taxable switches with no impact on investors and no action required by advisors.
| Series E redesignations
|IA Clarington Strategic Income Fund||E||EX|
|IA Clarington Strategic Income Fund||E6||EX6|
|IA Clarington Focused Balanced Fund||E||EX|
|IA Clarington Focused Balanced Fund||E5||EX5|
|IA Clarington Canadian Balanced Class||E||EX|
|IA Clarington Canadian Balanced Class||E5||EX5|
|IA Clarington Tactical Income Fund||E||EX|
|IA Clarington Tactical Income Fund||E6||EX6|
|IA Clarington Focused Canadian Equity Class||E||EX|
|IA Clarington Focused Canadian Equity Class||E5||EX5|
|IA Clarington Global Opportunities Class||E||EX|
| Series F redesignations
|IA Clarington Canadian Balanced Fund||F||FX|
|IA Clarington Canadian Balanced Fund||F5||FX5|
|IA Clarington Canadian Balanced Class||F||FX|
|IA Clarington Canadian Balanced Class||F5||FX5|
|IA Clarington Tactical Income Fund||F||FX|
|IA Clarington Tactical Income Fund||F6||FX6|
|IA Clarington Tactical Income Fund||F8||FX8|
In addition to the redesignations, IA Clarington is capping the following series to new purchases:
- IA Clarington Strategic Equity Income Fund Series E, Series E6, Series F, Series F6
- IA Clarington Global Opportunities Fund Series E, Series F (CDN and USD)
- IA Clarington Canadian Conservative Equity Fund Series F5
- IA Clarington Canadian Conservative Equity Class Series F5
Lastly, IA Clarington is lowering the fees on the following funds:
- IA Clarington Strategic Equity Income Class Series F & F6 management fee, from 0.95 to 0.90
- IA Clarington Global Opportunities Class Series F fixed rate administration fee, from 0.41 to 0.32
- IA Clarington Monthly Income Balanced Fund Series T6 fixed rate administration fee, from 0.28 to 0.18
- IA Clarington Strategic Corporate Bond Fund Series E5 fixed rate administration fee, from 0.22 to 0.19
- IA Clarington Canadian Conservative Equity Class Series E5 fixed rate administration fee, from 0.11 to 0.10
IA Clarington is proud to present the Elite Program as a competitive and effective way for advisors to work with high-net-worth clients, in a rapidly changing industry.
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 September 30, 2014, 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.
For further information:
please contact IA Clarington Client Services at 1.800.530.0204 or
Senior Director, Media Relations
TMX Equicom (416) 815-0700 ext. 266