Toronto, Ontario, April 13, 2012 - IA
Clarington Investments Inc. ("IA Clarington") today announced
proposed changes to its fund family designed to streamline its
mutual fund line-up for investors.
Subject to receipt of investor and regulatory approval, it is
proposed that IA Clarington Global Small Cap Fund (the "Terminating
Fund") be merged into IA Clarington Global Equity Fund, effective
June 25, 2012. IA Clarington Global Equity Fund will continue to be
managed by Radin Capital Partners Inc. ("RCP"), and will change its
name to IA Clarington Global Opportunities Fund in June.
"These changes reflect an initiative to streamline the IA
Clarington mutual fund family and provide advisors and investors
with increased operational efficiencies," said David Scandiffio,
President of IA Clarington.
RCP is led by Brad Radin, who managed an award-winning global
small/midcap equity fund at a large Canadian mutual fund company
for more than 10 years prior to his departure in February 2011. RCP
is currently managing both funds using the same investment
approach, however the Terminating Fund has a greater bias towards
small cap stocks.
Investors in the Terminating Fund will be asked to ratify the
proposal at a meeting scheduled for June 18, 2012. A proxy voting
package and information circular detailing the proposed merger will
be sent to unitholders in late May. Please note that IA Clarington
Global Small Cap Fund will be closed to new sales, with the
exception of PACs, at the end of business on April 20, 2012.
The proposed merger was approved by the Board of Directors of IA
Clarington Investments Inc. at a meeting held on April 10, 2012.
The Independent Review Committee of the funds also considered the
matter and provided a positive recommendation that the merger would
achieve a fair and reasonable result for the funds.
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 and
segregated funds managed by leading portfolio advisors. IA
Clarington managed more than $10 billion in assets as at December
31, 2011. www.iaclarington.com
For further information
Equicom, a TMX Group Company
(416) 815-0700 ext. 251