TORONTO, ON, November 15, 2002 - ClaringtonFunds today announced
the introduction of its Core Portfolios; three new mutual funds
designed to provide investors with a highly diversified investment
option. These Core Portfolios - Canadian, U.S. and Global will each
invest in several existing Clarington mutual funds and will be
broadly diversified so that the portfolio's return is not dependent
on any one asset class, investment style or investment manager.
The Clarington Canadian Core Portfolio, Clarington U.S.
Core Portfolio and Clarington Global Core
Portfolio will be diversified across growth, value, large,
mid and small cap funds. Given that different parts of the market
tend to move independently, Clarington's Core Portfolios will help
investors by relieving the burden of trying to determine when
different segments of the market will rise, fall or change
direction.
On the administration side, the Core Portfolios provide a simple
solution to investing and managing a diversified portfolio. Instead
of keeping track of prices, confirmations and performance for each
underlying fund, each of the Core Portfolios allow investors to
follow one fund with one price.
"Clarington's strategy is to seek out the most respected
investment managers in the industry, and make their expertise
available to Canadians by appointing them as sub-advisers to our
funds," says Terence Stone, Chairman and Founder of Clarington.
"Clarington's Core Portfolios now make it easier for investors to
diversify amongst these investment managers by providing a
complementary mix of investment styles and asset classes."
All three of the Clarington's Core Portfolios are equity funds
and will be rebalanced regularly according to pre-determined asset
allocation percentages as disclosed in the funds' prospectus. "One
of the benefits of regular portfolio rebalancing is that it can
eliminate the errors associated with trying to time or predict the
market and help investors utilize the time honoured strategy of
dollar cost averaging," Stone added.
ClaringtonFunds Inc., founded in 1995, has over $2.8 billion in
assets in 40 mutual 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.