Toronto-based IA Clarington Investments Inc.announced a number of portfolio management changes Friday.
The changes come after the resignation of Terry Thib, who is leaving to pursue opportunities outside the mutual fund industry, IA Clarington says in a statement.
Effective Friday, Michael Formuziewich and Peter Prattas will be co-lead portfolio managers for a number of funds, taking over from Thib. These are: IA Clarington Growth & Income Fund, IA Clarington North American Opportunities Class, IA Clarington Canadian Conservative Equity Fund, IA Clarington Canadian Conservative Equity Class and IA Clarington Canadian Conservative Equity GIF.
Jeff Sujitno continues as a portfolio manager for IA Clarington Growth & Income Fund, contributing to the mandate’s allocation to floating- and fixed-rate income securities.
Formuziewich has been on the investment management team for IA Clarington Canadian Conservative Equity Fund, IA Clarington Canadian Conservative Equity Class and IA Clarington Canadian Conservative Equity GIF since 2009, and has been a portfolio manager for all three mandates since 2016.
Prattas has been a portfolio manager for the funds since 2017.