Toronto, Ontario, February 13, 2008 - IA
Clarington Investments Inc. ("IA Clarington" or the "Company")
today announced that it is broadening its range of cash
distribution options with its launch of Series T10 and F10
units of the IA Clarington Dividend Growth
Fund. The company also announced changes to the distribution
policies of two existing cash distribution funds and a cap on the
Series A and F units of IA Clarington Canadian Dividend
Fund.
Beginning March 17, 2008, the Company will offer Series T10
and Series F10 units of the IA Clarington Dividend Growth
Fund. This fund has a similar investment objective to the IA
Clarington Canadian Dividend Fund, and both funds are managed by
Gil Lamothe of Industrial Alliance Investment Management Inc.
The Series T10and F10 units will aim to provide monthly
distributions, targeted at a rate of 10%.
"We believe these new series are an attractive option for clients
who are seeking to draw a higher rate of cash flow from their
investments, even if that means potentially drawing down capital
over time," said Eric Frape, Senior Vice President, Product and
Business Development at IA Clarington. "For an aging Canadian
population, especially those entering retirement, investments that
can provide tax efficient cash flow are very important. We are
committed to providing funds with a wide range of distribution
options, including T6, T8 and now T10, to meet the diverse needs of
Canadian investors."
IA Clarington also announced changes to the distribution policies
of the IA Clarington Canadian Dividend Fund and IA Clarington
Global Income Fund.
Effective April 30 2008, the Series A and F units of the IA
Clarington Canadian Dividend Fund will be closed to new purchasers,
other than investors who purchase under pre-existing systematic
plans. In addition, the distribution policy for these two series
will be amended to provide greater clarity.
In addition, effective April 30, 2008, the monthly distribution on
the Series A and Series F units of IA Clarington Global Income Fund
will be reduced to $0.025 from $0.06. The distribution policy of
those series of units of the Fund will be adjusted, starting in
January, 2009, to target an annualized distribution rate of
8%.
"These changes provide our clients with clarity and greater
certainty on the future distribution levels for these funds," Frape
added. "Our focus is to continue to offer a broad selection of cash
distribution options which meet the various needs of
investors."
About IA Clarington
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 $7.7 billion in assets as at December 31,
2007. The company's website address is
www.iaclarington.com.
Commissions, trailing commissions, management fees and expenses
all may be associated with mutual fund investments. Please read the
prospectus before investing. Mutual funds are not guaranteed, their
values change frequently and past performance may not be
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The payment of distributions is not guaranteed and may fluctuate.
The payment of distributions should not be confused with a fund's
performance, rate of return, or yield. If distributions paid by the
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investor's original investment will shrink. Distributions paid as a
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pay capital gains tax on the amount below zero.