November 15, 2007 - Toronto - IA Clarington
Investments Inc. (IA Clarington) today announces the introduction
of a new series of units of its Distinction Portfolios and lower
fees for existing units of the original five Distinction
Portfolios.
The Distinction Portfolio program today offers six fund-on-fund
portfolios, designed to meet specific investment objectives ranging
from conservative to growth-oriented. Each of the Portfolios holds
a diversified mix of assets achieved through a combination of IA
Clarington Funds and third party funds from other major Canadian
fund companies.
IA Clarington has lowered management fees on the existing Series A
units of the original five Distinction Portfolios by an average of
17 basis points per portfolio. The new Series M units of those
portfolios, which are available to investors with $25,000 or more
to invest, offer further fee reductions and enhanced reporting,
including a more detailed statement that features investors'
personal rates of return.
Responding to the growing demand for income-generating
investments, IA Clarington has also introduced Series M6 and M8
units (which offer targeted annual distribution rates of 6% and 8%,
respectively) of the Distinction Monthly Income
Portfolio.
"Portfolio programs, or wraps, are among Canada's fastest growing
investment segments," says David Scandiffio, President, IA
Clarington. "The Distinction Program has enjoyed considerable
success and has attracted over $450 million in assets. To further
enhance the program and broaden its appeal even further, we have
lowered fees and introduced a tiered pricing structure to better
serve our investors."
Distinction - Series M Management Fees
Distinction Prudent Portfolio 1.90%
Distinction Conservative Portfolio 2.00%
Distinction Balanced Portfolio 2.05%
Distinction Monthly Income Portfolio (M6 and M8) 2.00%
Distinction Growth Portfolio 2.10%
Distinction Bold Portfolio 2.20%
"The Distinction Portfolios offer an all-in-one investment
solution including funds from some of Canada's leading mutual fund
companies" says Eric Frape, Senior Vice President, Product and
Business Development at IA Clarington, "and we believe these
current changes will make them even stronger investments,
benefiting new and existing clients."
About IA Clarington Investments
IA Clarington Investments Inc., a subsidiary of Industrial
Alliance Insurance and Financial Services Inc., markets a wide
range of investment products, including mutual funds, segregated
funds, principal protected notes and closed end funds managed by
leading portfolio managers. IA Clarington and its subsidiaries
managed approximately $8 billion in assets as at October 31,
2007.