IA Clarington Investments Inc. announced on Friday that IA Clarington Aston Hill Tactical Yield Fund successfully issued an additional 300,000 trust units and 300,000 warrants under an over-allotment option.

On April 19, 10 million units were issued under the initial public offering of the fund. Total gross proceeds are now $103 million.

The units and warrants now trade on the Toronto Stock Exchange independently under the symbols TYF.UN and TYF.WT, respectively.

The initial monthly cash distribution of $0.05 per trust unit is anticipated to be payable on May 14, 2010 to unitholders of record on April 30. Additionally, each warrant entitles the holder to purchase one trust unit at the subscription price of $10.00 each on or before 5:00 p.m. on April 29, 2011.

The fund’s investment objectives are to provide unitholders with monthly cash distributions, initially targeted to be 6% per unit per annum, to maximize total returns for unitholders, consisting of both cash distributions and capital appreciation, while reducing risk and preserving capital.

IE