Toronto-based IA Clarington Investments Inc. has renamed one of its mutual funds. IA Clarington Global Tactical Income Fund now is named IA Clarington Global Allocation Fund. The IA Clarington fund is modelled after another allocation fund run by its subadvisor, Boston-based Loomis Sayles & Co. LP. The IA fund’s new name is meant to reflect that similarity. The fund’s investment objective and strategy, a bottom-up securities selection that allows for investments across the spectrum of global equities and fixed-income, remain the same. Advisor commissions are 0%-5% for front-end sales; 5% for deferred sales; and 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 DSC schedule; or begin 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; 0.5% for the first seven years of deferred sales, and 1% thereafter; and 0.5% for the first three years of low-load sales, and 1% thereafter. Management fees are 2% for A-class units and 0.95% for F-class units. Minimum investment is $500.
(fcollie@investmentexecutive.com).