Series

Investment Approach

The fund manager employs a rigorous bottom-up strategy with a 12 to 18 month strategic outlook on the markets with a view to invest in a stable mix of income producing equity and fixed income securities demonstrating strong fundamentals while aiming to minimize volatility through all market conditions.

Key reasons to invest

Award winning manager

Seeks to provide stable income and capital appreciation

An investment approach that endeavours to strategically position the Fund through all market conditions

 Medium-Low Risk Image

Daily Price

Calendar Year Returns (%)

Distributions

Distribution Frequency: Monthly, 3.2¢ per unit

Category 2014 2013* 2012 2011 2010 2009
Income 0.02 0.01 0.04 0.00 0.01 0.01
Dividends 0.08 0.10 0.06 0.05 0.07 0.10
Capital Gains 0.00 0.00 0.00 0.00 0.00 0.00
Return of Capital 0.27 0.37 0.28 0.34 0.30 0.27
Total 0.37 0.48 0.38 0.39 0.38 0.38

Daily Price

Support Material

Commentaries

The second quarter of the year was not a positive one overall for equity markets. The portfolio manager has been calling for this year to be a transition year for the markets where dislocations of the past would change direction providing a more normalized market environment for the following year. The first signs were observed in the impact of higher interest rate expectations on the more defensive part of the markets, while at the same time cyclical and growth-oriented equities struggled under higher valuations and a lack of near-term catalysts for earnings growth. Sectors such as Consumer Staples and Utilities performed poorly on the defensive side of the ledger, while more growth-oriented stocks in the Industrials space struggled under the pressure of weaker earnings expectations. The portfolio manager believes the factors that are causing heightened volatility this year will lead to more positive market conditions next year. The portfolio manager also believes that Europe's economic prospects have improved, the U.S. Federal Reserve has fairly warned of higher but moderate increases in interest rates and economic growth in developed markets will likely improve as the year progresses.

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Dan_Bastasic

Dan Bastasic, MBA, CFA
Senior Vice President, Investments
IA Clarington Investments Inc.

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Facts & Fees

Purchase Minimums

Minimum Initial Buy: $500
Each Additional Investment:
(may be waived)
$50

Support Material

Financial Documents

Legal

*IA Clarington Investments Inc., manager of the IA Clarington Strategic Income Fund Y (the "Fund"), currently waives some of its management fees or absorbs some expenses that would normally be charged to the Fund. This is done at the manager’s discretion, and may continue for an indeterminate period of time but may also be terminated at any time. The management expense ratio ("MER") for this series of the Fund published above is calculated after waivers and absorptions have been taken into account, using information available from the interim period ending 03/31/2014. The actual MER of the this series of the Fund before waivers and or absorptions is 2.34%
Important information and disclaimer

*This represents a 15 month fiscal period ending March 31, 2014. The funds changed their fiscal year-end from December 31 to March 31, effective August 27, 2013.

The actual distributions could differ from the figures shown based on several factors, including dividend and interest income received by a fund, gains realized on securities sold, purchases and redemptions of a fund. The figures shown are also subject to change depending on market conditions, portfolio activity, redemptions, and income or dividends earned. The figures shown are based on information currently available, and are only an approximation. We take no responsibility for the accuracy of this information and recipients should exercise appropriate caution in using this information.