TORONTO, Nov. 11, 2013 /CNW/ - IA Clarington Investments Inc. ("IA Clarington" or the "Company"), today announced the launch of two new mandates, the IA Clarington Floating Rate Income Fund and the IA Clarington Strategic U.S. Growth & Income Fund.
"These two offerings further strengthen our positioning in the large and growing market to meet investors' demand for income," said Eric Frape, Senior Vice-President, Investments and Products at IA Clarington. "We have two extremely talented money managers in Jeff Sujitno and Dan Bastasic."
The IA Clarington Floating Rate Income Fund, managed by Jeff Sujitno, Vice President and Portfolio Manager at IA Clarington, is well suited to the current potential rising interest rate environment and is an attractive alternative to rate-sensitive fixed income securities.
"While this is a relatively new asset class for Canadian advisors and investors, investing in floating rate senior loans has been my specialty for more than 13 years," said Mr. Sujitno. "Now, more than ever, Canadians need to diversify their income sources and floating rate loans provide them that opportunity."
In his most recent role, Mr. Sujitno was lead portfolio manager for the fixed income and credit mandates of a boutique Canadian investment firm. In this position, he managed several funds, led the fixed income team and created the firm's senior loan business.
The IA Clarington Strategic U.S. Growth & Income Fund is managed by Dan Bastasic, Senior Vice-President, Investments at IA Clarington. It will invest in U.S. equities and fixed income, emphasizing a monthly income stream.
"The U.S. has re-emerged as a key market for investors," said Mr. Bastasic. "Our full capital structure analysis puts us in the perfect position to act on catalysts whether it's on the equity side or the bond side."
Bastasic manages over $2.2 billion for IA Clarington in the Strategic family of funds.
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 $14.4 billion in assets as at October 31, 2013. www.iaclarington.com
SOURCE: IA Clarington Investments Inc.
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