Toronto-based IA Clarington Investments Inc. on Friday announced the launch of three new mutual funds. The new product offerings include a diversified, multi-asset income fund, a tax-advantaged fund for registered accounts, and a pure U.S. dollar income fund.
IA Clarington Yield Opportunities Fund,seeks to provide a steady monthly income stream and modest return by investing in a mix of investment grade and high-yield fixed-income securities, equity securities that pay dividends and other securities that distribute income. The lead portfolio manager of this fund is Clément Gignac.
“Investors need to look for alternative sources of income in today’s low interest rate environment. The IA Clarington Yield Opportunities Fund provides multiple streams of income from several different sources, ensuring not only effective diversification, but a more durable portfolio for all market environments,” says Eric Frape, senior vice president, products and investments at iA Clarington, in a statement.
IA Clarington U.S. Dividend Growth Registered Fund seeks to provide long-term capital appreciation and total return while protecting capital by investing primarily in a diversified portfolio of equity securities of large capitalization U.S. corporations with a focus on dividend growth. The fund is available through registered accounts only. Pierre Trottier is the portfolio manager.
“The IA Clarington U.S. Dividend Growth Registered Fund, with its tax-advantaged solution, eliminates the 15% withholding tax on income from U.S. securities, enabling investors to potentially increase and compound returns,” adds Frape.
IA Clarington U.S. Dollar Floating Rate Income Fund is a pure U.S. dollar income solution designed for investors looking to buy and invest in U.S. currency. The fund seeks to provide a stream of current monthly income in U.S. dollars by investing primarily in senior floating rate loans, other floating rate securities and debt obligations of investment grade and non-investment grade North American and global corporate issuers. the fund’s lead portfolio manager is Jeff Sujitno,