IA Clarington Investments Inc. is launching a new program offering flexible options and fee discounts to high net worth investors, and is also making changes to some of its series.

The IA Clarington Elite Program and preferred pricing, will launch on Monday, November 3, and applies to a full range of the company’s funds and is intended for investors who have $100,000 or more invested.

Investors become eligible for preferred pricing once they hold $100,000 in Series E or P in a single IA Clarington fund in a single account. They receive additional discounts at $250,000 in a single account, and again at $500,000 and $1 million.

At the $250,000 level, investors can also participate in Family Pricing by linking eligible accounts to combine assets and take advantage of discounts.

“We’ve designed the program to be very flexible and easy to understand with features such as automatic discounts back to dollar one,” says Eric Frape, senior vice president, product and investment. “Our Elite Program allows advisors to do business the way they want with great pricing benefits for their clients.”

The program includes a variety of features designed to help advisors with the many challenges they face:

  • Flexible purchase options make it easier for advisors to use the program with their particular business model and comply with new securities regulations on fee disclosure.
  • Administrative work is minimized, since reductions are applied automatically, starting at $250,000, and the program is available in almost all fund options.
  • The Elite Program includes all of IA Clarington’s leading active managers, socially responsible investing choices, and tax-efficient payout options within a corporate class structure.
  • Discounts are automatic, right back to dollar one.

Series redesignations on selected funds

In a related announcement, IA Clarington says it will be capping and redesignating Series E and F purchase options on a number of its funds and launching replacement series. For a list of affected Series E and F funds, click here.

The changes are designed to accommodate the new Elite Program and better align pricing within IA Clarington’s overall fund line-up. The changes are scheduled for completion as of the close of business on Friday, October 24.

All of the series redesignations will be completed as non-taxable switches with no impact on investors and no action required by advisors, IA Clarington says.

Caps to new purchases

IA Clarington is also capping the following series to new purchases:

  • IA Clarington Strategic Equity Income Fund Series E, Series E6, Series F, Series F6
  • IA Clarington Global Opportunities Fund Series E, Series F (CDN and USD)
  • IA Clarington Canadian Conservative Equity Fund Series F5
  • IA Clarington Canadian Conservative Equity Class Series F5

Lower fees

IA Clarington is lowering the fees on the following funds:

  • IA Clarington Strategic Equity Income Class Series F & F6 management fee, from 0.95 to 0.90
  • IA Clarington Global Opportunities Class Series F fixed rate administration fee, from 0.41 to 0.32
  • IA Clarington Monthly Income Balanced Fund Series T6 fixed rate administration fee, from 0.28 to 0.18
  • IA Clarington Strategic Corporate Bond Fund Series E5 fixed rate administration fee, from 0.22 to 0.19
  • IA Clarington Canadian Conservative Equity Class Series E5 fixed rate administration fee, from 0.11 to 0.10