ClaringtonFunds Inc. ("Clarington") and Industrial Alliance Fund
Management Inc. ("IA Fund Management") today announced that they
expect to integrate their business operations effective on or soon
after June 30, 2006. The change is subject to regulatory
approval.
To reflect the integration of its business with that of
Clarington, IA Fund Management will be renamed "IA Clarington
Investments Inc." ("IA Clarington") at the time of the integration.
"The new name reflects Industrial Alliance's commitment to build on
Clarington's strong platform, which is now backed by the full
strength and resources of one of Canada's leading diversified
financial institutions," said David Scandiffio, President of
Clarington and IA Fund Management.
At the time of the integration, the manager of all of the mutual
funds managed by Clarington (the "Clarington Funds") will change to
IA Clarington. The change of manager will not affect the existing
portfolio advisory relationships for any of the Clarington
Funds.
"We are pleased to announce that the integration of Clarington
and IA Fund Management is moving ahead as planned. One of the
important benefits of this partnership is an even deeper product
selection and access to top-quality money managers for all our
clients. We are on track to provide full exchangeability across the
fund line-ups by the end of the summer," said Scandiffio.
Each of Clarington and IA Fund Management is a subsidiary of
Industrial Alliance Insurance and Financial Services Inc.