IA Clarington launches three funds

Toronto-based IA Clarington Investments Inc. has launched IA Clarington Focused Canadian Equity Class Fund, IA Clarington Focused Balanced Fund and IA Clarington Focused Balanced Class Fund. David Taylor, portfolio manager with Toronto-based Taylor Asset Management Inc., will manage IA Clarington Focused Canadian Equity Class and will partner with income specialist Dan Bastasic, portfolio manager with IA Clarington, to manage IA Clarington Focused Balanced Fund and IA Clarington Focused Balanced Class Fund. IA Clarington Focused Canadian Equity Class Fund will invest in Canadian equities, with the flexibility to invest up to 49% of assets under management in U.S. and other foreign securities. The other two funds will include a blend of equities and corporate bonds to provide a balance of long-term capital growth and a moderate level of income. IA Clarington Focused Balanced Class Fund will provide monthly tax-efficient distributions. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales or 2.5% for the low-load option. Redemption fees begin at 5.75% in Year 1 and end at zero after Year 7 for the regular deferred sales charge schedule, or at 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions are 1% for front-end sales, and 0.5% for low-load and deferred sales. Management fees for all funds are 2% for A-class units and 1% for F-class units. Minimum investment is $500.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).