TORONTO, June 8, 2012 /CNW/ - IA Clarington Investments Inc. ("IA Clarington" or the "Company"), today announced the launch of three new investment solutions to be managed by award-winning portfolio manager David Taylor of Taylor Asset Management Inc. ("Taylor Asset Management"). Mr. Taylor will manage IA Clarington Focused Canadian Equity Class, and will partner with award-winning income specialist Dan Bastasic of IA Clarington to manage IA Clarington Focused Balanced Fund and IA Clarington Focused Balanced Class.
Mr. Taylor has over 24 years of experience in the investment industry. Most recently he oversaw more than $8 billion in assets and managed a number of funds at a large Canadian investment management firm, before leaving in 2011 to form Taylor Asset Management. Funds under the direction of Mr. Taylor have received several industry awards in the Canadian equity and balanced fund categories.
"At IA Clarington, we believe that together, active advice and active portfolio management can help investors maximize their wealth and reach their financial goals. Partnering with David Taylor is consistent with our philosophy of appointing experienced managers with high conviction views and proven track records of outperformance," said David Scandiffio, President of IA Clarington.
These core funds will provide investors with access to a distinct investment strategy for their portfolios.
"I am excited to be managing these funds for IA Clarington," said Mr. Taylor. "The firm is well respected in the advisor community and it is important for me to partner with a team that shares my commitment to advisors. IA Clarington has a very strong stable of reputable portfolio managers, and I'm proud to now be part of that line-up."
A core equity fund, IA Clarington Focused Canadian Equity Class will invest in a concentrated mix of Canadian equity securities with the flexibility to invest up to 49% in U.S. and other foreign securities. The fund will capitalize on Mr. Taylor's strict fundamentals-based research methodology aimed at finding attractively priced stocks of quality companies.
IA Clarington Focused Balanced Fund and Class will include a blend of equities and corporate bonds, to provide a balance of long-term capital growth and a moderate level of income, relying on Dan Bastasic for its fixed income component. IA Clarington Focused Balanced Class will provide monthly tax efficient distributions.
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 outstanding money managers from across Canada and around the world to manage its funds. IA Clarington managed more than $11.2 billion in assets as at April 30, 2012. www.iaclarington.com
About Taylor Asset Management
Taylor Asset Management Inc. is an independent investment management firm, founded by award-winning portfolio manager David Taylor to meet the needs of individual and institutional investors. Our research-intensive, risk-sensitive, fundamentals-based investment process focuses on identifying securities that are undervalued to develop portfolios that deliver strong long-term growth consistent with core investments.
For further information:
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(416) 815-0700 ext. 251