TORONTO, June 26, 2013 /CNW/ - IA Clarington Investments Inc. ("IA
Clarington" or "the Company"), the manager of IA Clarington Distinction
Bold Class (the "Fund"), is announcing that investors in the Fund have
approved a proposal to change the method of charging operating expenses
to the Fund to a fixed rate administration fee model at an adjourned
meeting held on June 26, 2013. Investors in all other mutual funds
managed by IA Clarington approved the same proposal on June 19, 2013.
The fixed rate administration fee for each series of the Fund will be
lower than the actual operating expenses paid by each series of the
Fund during its most recently completed financial year. The full impact
of the fee reductions may not be fully realized until the new fixed
rate administration fee model is in place for a full reporting cycle.
In addition, some fees may vary further due to the impact of federal
and provincial sales tax harmonization by additional provinces.
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 $13.5
billion in assets as at May 31, 2013. www.iaclarington.com
SOURCE: IA Clarington Investments Inc.
For further information:
Senior Director, Media Relations
(416) 815-0700 ext. 266