TORONTO, Feb. 12 /CNW/ - IA Clarington Investments Inc. ("IA Clarington")
today announced several proposed changes to integrate two Sarbit funds into
the IA Clarington fund family.
IA Clarington will merge the Sarbit Money Market Trust and Sarbit
Canadian Bond Trust (the "Funds") into IA Clarington Money Market Fund and IA
Clarington Bond Fund, respectively. The changes have been approved by the
independent review committee of the Funds and the mergers will occur on or
about April 17, 2009. All of the Funds involved are managed by IA Clarington,
and investors in the Sarbit funds will see a decrease in fees as a result of
Units of the Funds will continue to be available in exchange for units of
other Sarbit Funds until the close of business on April 9, 2009, following
which time the Funds will cease distribution of new units, except under a
pre-authorized chequing plan or similar systematic plan established prior to
April 9, 2009. Unitholders of each Fund will have the right to redeem their
units up to the close of business on the business day immediately preceding
the effective date of the mergers.
About IA Clarington Investments Inc.
IA Clarington managed approximately $5.9 billion in mutual fund and
closed-end fund assets as at December 31, 2008. IA Clarington maintains
offices in Toronto, Calgary, Vancouver, Montreal and Quebec City.
For further information:
For further information: Eric Frape, Senior Vice-President, Product and
Business Development, IA Clarington Investments Inc., (416) 860-9880,
Toll-Free 1-888-860-9888, Email: firstname.lastname@example.org