IA Clarington Investments Inc. said Monday that it has changed its policies regarding the waiver and absorption of fees and expenses applicable to the Series A, B and X units of IA Clarington Money Market Fund.

With the current low interest rate environment, IA Clarington has decided to temporarily waive a portion of its management fee in order to ensure that the fund does not see a negative yield, and permit it to possibly see a positive yield.

In order to facilitate this waiver of IA Clarington’s management fee, it will reduce the trailer fee applicable to the Series A, B and X units of the fund to 0%, effective December 16.

IA Clarington says it will continue to monitor its management fee and applicable trailer fees in light of market conditions and may discontinue or change its fee waiver or trailer fee rate from time to time as it deems fit.

IE