TORONTO, ON, October 11, 2002 - ClaringtonFunds Inc.
("Clarington") today announced that KBSH Capital Management Inc.
(previously known as Knight, Bain, Seath & Holbrook Capital
Management Inc.) based in Toronto, will assume the sub-advisory
responsibilities for the Clarington U.S. Growth Fund, replacing
Nicholas-Applegate Capital Management effective November 1,
2002.
"We are delighted that KBSH has agreed to manage the Clarington
U.S. Growth Fund. They have an excellent performance record and a
very impressive investment management team," says Terry Stone,
Clarington's Chairman and Founder.
For more than 20 years KBSH has successfully managed U.S.,
Canadian and International equity portfolios for various clients
including pension accounts, WRAP accounts and private assets.
KBSH's growth approach is based upon disciplined security selection
that focuses on fundamental financial analysis. They invest in
quality growth companies, seeking investments with a combination of
strong sales growth, superior cash flow and earnings growth, high
return on equity and reasonable valuations. KBSH is also the
sub-advisor for the Clarington Canadian Growth Fund.
KBSH was incorporated in 1980 and currently has approximately $8
billion in assets under management. Ownership is entirely in the
hands of the firm's principals, which allows for a completely
independent investment management operation.
ClaringtonFunds Inc., founded in 1995, has over $2.7 billion in
assets in 37 funds, with offices in Vancouver, Calgary, Toronto and
Montreal. All of ClaringtonFunds' mutual funds are sub-advised by
well known Canadian and international investment managers.