IA Clarington Investments Inc. has named Catapult Financial Management Inc. as sub-advisor to IA Clarington Tactical Income Fund (formerly IA Clarington Income Trust Fund) effective today. It also named Catapult, a wholly owned subsidiary of Aston Hill Financial Inc., as sub-advisor to IA Clarington Global Income Fund, effective September 15. The portfolio management team will be headed by Aston Hill president Ben Cheng and vice president of portfolio management Joanne Hruska.

The name change from IA Clarington Income Trust Fund to IA Clarington Tactical Income Fund occurs today. At the same time, the investment strategies of the Tactical Income Fund will be amended to reflect that it will generally seek to invest approximately two-thirds of its portfolio in equity securities and trust units and about one third in fixed-income securities, cash and cash equivalents.

IA Clarington Investments is a subsidiary of Industrial Alliance Insurance and Financial Services Inc.

Aston Hill is an investment manager specializing in high-yield income products and the purchase and development of Canadian oil and gas assets and securities for retail and institutional clients.