IA Clarington proposes changes to fund line-up

TORONTO, Oct. 25, 2013 /CNW/ - IA Clarington Investments Inc. ("IA Clarington" or "the Company") is announcing a proposal to merge eight mutual fund trusts into their corresponding corporate class versions.

"Investors in non-registered accounts will benefit from the ability to switch within the corporate class without triggering a taxable disposition and the mergers also enable us to streamline our line-up and reduce the duplication of funds," said IA Clarington President David Scandiffio.

A special meeting of investors will be held on or about January 10, 2014 to consider the proposal, which does not involve changing any investment objectives or strategies of the funds. IA Clarington intends to lower the management fees and MERs of the continuing funds to reflect the enhanced cost efficiency within its line-up.

Terminating Fund				Continuing Corporate Class Fund
Distinction Prudent Portfolio				Distinction Prudent Class
Distinction Conservative Portfolio				Distinction Conservative Class
Distinction Balanced Portfolio				Distinction Balanced Class
Distinction Growth Portfolio				Distinction Growth Class
Distinction Bold Portfolio				Distinction Bold Class
IA Clarington Canadian Leaders Fund				IA Clarington Canadian Leaders Class
IA Clarington Canadian Growth Fund				IA Clarington Canadian Growth Class
IA Clarington Dividend Growth Fund				IA Clarington Dividend Growth Class

Investors who will be impacted by the proposal and who hold investments in the continuing funds as of the date of record at the close of business on November 29, 2013 will receive an information circular with full details of the proposed changes as well as a proxy form. The proposed changes are subject to the applicable funds obtaining all necessary approvals, including investor approval for the continuing funds.

Notice of the proposed mergers will be provided to the securityholders of the terminating funds at least 60 days prior to the effective date of the mergers, including further details of the proposal.

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 $13.8 billion in assets as at September 30, 2013. www.iaclarington.com

SOURCE: IA Clarington Investments Inc.

For further information:

Crystal Quast
Senior Director, Media Relations
TMX Equicom
[phone] ext. 266
[e-mail]