TORONTO, ON, August 10, 2001 - ClaringtonFunds Inc. is launching
two new mutual funds: Clarington Global Value Class and Clarington
RSP Global Income Fund.
Clarington Global Value Class, managed by Seamark Asset
Management, is offered as part of Clarington Sector Fund Inc., a
mutual fund corporation that allows investors to switch between
classes without incurring a capital gain. "With tax-efficient Class
funds, clients can switch between funds to diversify or rebalance
portfolios without immediate tax consequences," said Terry Stone,
Chairman and CEO of ClaringtonFunds Inc. This fund will be a
conservative global equity fund, investing predominantly in large
cap companies with very strong financials and industry leading
positions.
Clarington RSP Global Income Fund is a 100% RSP-eligible version
of the Clarington Global Income Fund, also managed by Seamark Asset
Management. This fund enables investors to hold a conservatively
managed global balanced fund in their registered plans without
foreign content restrictions.
ClaringtonFunds also announced that the name of the Clarington
U.S. Equity Fund has been changed to Clarington U.S. Growth Fund to
better reflect the investment strategy of the Fund.
Seamark Asset Management Ltd., based in Halifax, Nova Scotia,
was founded by Peter Marshall in 1982 as Atlantic Canada's first
full-service investment counsel firm. Seamark provides investment
management services to a broad range of clients, including
institutional clients, mutual fund companies, and private clients,
and participates in the wrap account programs of five of Canada's
leading investment dealers. As of June 30, 2001, Seamark managed
over $6 billion in assets on behalf of clients.
ClaringtonFunds manages 33 mutual funds and has attracted over
$2 billion since their inception in September 1996. Its family of
funds includes Canadian funds, global funds, 100% RSP-eligible
global funds and tax-efficient corporate funds.