IA Clarington Investments Inc. has filed a preliminary prospectus with securities regulators for two new corporate class funds, the company said Monday.
In addition, IA Clarington has filed amendments to the prospectuses of its other funds to announce certain changes.
IA Clarington Strategic Income Class and IA Clarington Strategic Corporate Bond Class will be managed by Dan Bastasic. The company intends to launch the funds by the end of January 2012. Both funds will provide tax-efficient income paid on a monthly basis through Series T investment options. In addition, the distribution policy for Series A units of IA Clarington Strategic Corporate Bond Fund has been amended to a monthly payout structure.
“We are committed in providing clients with more flexible options to access our award-winning portfolio management team,” says David Scandiffio, President of IA Clarington. “The addition of these mandates to our corporate class structure gives advisors tax-efficient solutions to use with their clients, something which is critically important in the financial planning process.”
Bastasic recently joined IA Clarington from Mackenzie Financial Corp., where he managed several funds with combined assets of more than $2.8 billion, the majority of which was in income and equity income oriented securities.
In addition, effective December 5, Industrial Alliance Investment Management Inc. will be assuming full portfolio management duties for the line up of IA Clarington Target Click Funds, replacing BNP Paribas Investment Partners Canada Limited. Industrial Alliance Insurance and Financial Services Inc. will assume the guarantee for the funds.
IA Clarington also announced plans to reopen Series A units of IA Clarington Canadian Dividend Fund strictly to allow switches from Series X units of the fund.