Strengthens Canadian fund line-up and makes key funds available
to Clarington investors
Toronto, Ontario, January 17, 2006 - ClaringtonFunds Inc. today
announced that it has filed a preliminary prospectus for three new
funds to be available for sale on the Clarington platform: the IA
Clarington Canadian Conservative Equity Fund, the IA Clarington
Dividend Income Fund, and the IA Clarington Dividend Growth Fund.
Each of the three funds will invest directly in a mutual fund
currently managed by Industrial Alliance Fund Management Inc.
"We are excited to add three of Industrial Alliance's top
products to our fund family," said Terence Stone, Vice-Chairman of
ClaringtonFunds Inc. "This gives our investors and their advisors
greater selection and the ability to easily purchase or exchange
into one of these funds."
The funds are being launched under the new IA Clarington name,
which will be included in all joint sales and marketing initiatives
and which will soon be part of the legal name of the combined
organization.
"The new name reflects Industrial Alliance's commitment to build
on Clarington's strong platform and brand - a commitment backed by
the full strength and resources of one of Canada's leading
financial services providers," said David Scandiffio, President of
ClaringtonFunds Inc.
"These funds are a perfect complement to Clarington's already
strong line-up of cash distribution funds," Scandiffio added.
IA Clarington Canadian Conservative Equity
Fund
The IA Clarington Canadian Conservative Equity Fund, which is
managed by ClaringtonFunds Inc., will invest in units of the IA
Canadian Conservative Equity Fund. The fund seeks to achieve
long-term capital growth and maintain value by investing primarily
in equity securities of Canadian companies. The IA Clarington
Canadian Conservative Equity Fund will undertake to pay a quarterly
distribution.
IA Clarington Dividend Growth Fund
The IA Clarington Dividend Growth Fund, which is managed by
ClaringtonFunds Inc., will invest in units of the IA Dividend
Growth Fund. The fund seeks to achieve a consistent level of
dividend income with moderate capital appreciation. The IA
Clarington Dividend Growth Fund will undertake to pay a monthly
distribution.
IA Clarington Dividend Income Fund
The IA Clarington Dividend Income Fund, which is managed by
ClaringtonFunds Inc., will invest in units of the R Dividend Income
Fund. The objective of the fund is to generate regular dividend and
interest income and moderate long-term capital growth. The fund
invests primarily in high-quality, dividend-paying common and
preferred shares of Canadian and U.S. issuers, income trust units
and/or fixed income securities of Canadian and U.S. issuers. The IA
Clarington Dividend Income Fund will undertake to pay a monthly
distribution.
A preliminary simplified prospectus relating to the three funds
has been filed with certain Canadian securities commissions or
similar authorities. Investors cannot buy units of the funds until
the relevant securities commissions or similar authorities issue
receipts for the simplified prospectus of the fund. Units of the
funds will be available on a front end, low load, or deferred sales
charge basis.
For further information, please read the simplified prospectus
available on www.SEDAR.com.
About ClaringtonFunds Inc.
ClaringtonFunds Inc., a subsidiary of Industrial Alliance
Insurance and Financial Services Inc., offers a wide variety of
mutual funds managed by leading Canadian and international
portfolio managers. Based in Toronto, Clarington maintains regional
offices in major Canadian centres.