MONTREAL, Jan. 30 /CNW Telbec/ - Laurentian Bank of Canada, through its
LBC Financial Services subsidiary, a mutual fund broker, now offers the
Clarington Target Click Funds that are designed to provide investors with an
opportunity to participate in the growth potential of global equity markets
while protecting their invested capital and gains against downside risk. The
Clarington Target Click Funds guarantee, at their scheduled maturity date, the
highest month-end value ever achieved over the life of the Fund.
With the Clarington Target Click Funds, investors can choose from four
global balanced funds with laddered maturity dates. Automatic asset allocation
lowers risk as the Fund approaches its scheduled maturity date by increasing
allocation to fixed income and decreasing equity exposure, thus providing
downside protection if the Fund is held to maturity. There is no cap or limit
on returns, meaning investors receive the full benefit of the Funds' exposure
to international equity markets.
The Clarington Target Click Funds invest in a portfolio with the asset
mix of "active" and "passive" components. The allocation between the active
and the passive components changes as the Fund approaches maturity. The active
component is indirectly invested in global equity indices, including the
United States, Europe and the Far East. The passive component is comprised of
fixed-income securities, including strip bonds and T-bills, to support the
guaranteed value at the scheduled maturity date.
Key Features of the Clarington Target Click Funds
- Monthly "click" component automatically captures gains, guaranteeing
the highest month-end unit value at the scheduled maturity date,
regardless of the investment date, provided the Fund is held to
- Decreasing risk over time
- Global diversification
- Ability to buy and sell daily
- Laddered maturity dates: 2010, 2015, 2020 and 2025
- No cap or limit on returns
- Minimum initial investment of $500 (subsequent $100 investments, or
$50 in case of a systematic savings plan)
- Product eligibility: registered and non-registered accounts
- Management fees: from 2.85% to 1.25%, declining as the Fund nears
- Portfolio manager: ABN AMRO Asset Management Canada Limited, an
affiliate of ABN AMRO Asset Management (Netherlands) B.V.
- Guarantee with regard to the highest unit value ever achieved, provided
by ABN AMRO Bank N.V.
The Clarington Target Click Funds are offered at all 158 branches of
Laurentian Bank of Canada and LBC Financial Services as well as through the
Telebanking Centre at 514 522-1846 or 1 800 522-1846 (toll free).
Laurentian Bank of Canada is a Quebec banking institution operating
across Canada, dedicated to meeting the financial needs of its clients through
the excellence of its service, its simplicity and its proximity. The Bank
serves individual consumers, small and medium-sized businesses as well as,
through B2B Trust, independent financial advisors. It also provides
full-service brokerage solutions through the Laurentian Bank Securities
subsidiary. Laurentian Bank is well established in the Province of Quebec,
operating the third largest retail branch network and is a performing player
in specific market segments elsewhere in the country. Laurentian Bank of
Canada has over $17 billion in balance sheet assets and close to $15 billion
in assets under administration. Founded in 1846, the Bank employs more than
3,200 people. Its common shares are listed on the Toronto Stock Exchange (TSX:
LB). For more information, please visit www.laurentianbank.ca.
The simplified prospectus of the Clarington Target Click Funds contains
important information concerning the above-mentioned mutual funds distributed
by LBC Financial Services, including further information about the guarantee.
Please read this document prior to investing.
Commissions, trailing commissions, management fees and expenses all may
be associated with mutual fund investments. To obtain a copy of the simplified
prospectus, please contact a representative of LBC Financial Services
("LBCFS") at one of the branches of Laurentian Bank of Canada ("Laurentian
Bank") or by calling 1 800 BLC-1846. LBCFS is a legal entity, separate and
distinct from Laurentian Bank and Industrial Alliance Fund Management Inc.
Mutual funds are not guaranteed, their values change frequently and past
performance may not be repeated. However, in the case of the Target Click
Funds, a unit-value guarantee has been issued by ABN AMRO Bank in favour of
the Funds. The Clarington Target Click Funds are managed by IA Clarington
Investments Inc. IA Clarington is a trademark of IA Clarington Investments
The guarantee issued by ABN AMRO Bank N.V. guarantees payment, on the
Fund's scheduled maturity date, of the greater of: the highest month-end net
asset value per unit ever achieved by the relevant fund, or the net asset
value per unit on the maturity date of the Fund. If the Fund is terminated
prior to maturity, which can occur in certain circumstances, investors will
receive the greater of the net present value of the guaranteed amount on the
accelerated maturity date or the net asset value per unit on the accelerated
maturity date. The guarantee may be terminated in certain circumstances.
Investors who redeem their units prior to the scheduled maturity date will not
benefit from the guarantee. The guarantee is a corporate obligation of ABN
AMRO Bank N.V., and is therefore subject to the risk of ABN AMRO Bank N.V.
having insufficient assets to pay the guaranteed value.
For further information:
For further information: Laurentian Bank of Canada: Manon Stébenne,
Senior Advisor, Public Affairs and Communications, Office: (514) 284-4500,