iA Clarington launches fund and three new ETFsBy The IJ Staff | November 05 2019 01:23PM
iA Clarington Investments announced a number of new changes this week, including the launch of a new global mutual fund and ETF series shares for three of its existing funds.
The company has also added five third-party portfolio managers and mandates to its managed asset program, and has renamed the iA Clarington Managed Portfolios program to iA Wealth Managed Portfolios.
A broader range of third-party managers
Along with its new name, the firm’s flagship managed asset program will now feature underlying fund components from a broader range of third-party managers. The program’s new sub-advisors include Dynamic Funds, Fidelity Investments Canada, Mackenzie Investments, Manulife Investment Management and PIMCO Canada Corp.
The company also announced the planned departure of portfolio manager, Jeff Sujitno who, along with his core portfolio management team, are leaving the company to establish a new investment management firm, Wellington Square. Sujitno will continue to manage the iA Clarington Core Plus Bond Fund, the Floating Rate Income Fund and the company’s U.S. Dollar Floating Rate Income Fund.
New actively-managed fund
The new iA Clarington Loomis Global Equity Opportunities Fund, meanwhile, is an actively-managed “unconstrained, high-conviction strategy” fund, which invests in a portfolio of 35-65 holdings. Sub-advised by Loomis, Sayles & Company, L.P., the medium-risk fund for investors seeking possible capital appreciation, invests in a broad range of equity securities of companies anywhere in the world.
Finally, the company also announced that it is launching active ETF series share for the iA Clarington Floating Rate Income Fund, the iA Clarington Global Allocation Fund and the iA Clarington Strategic Income Fund. Active ETF series shares provide access to the same strategies, exposures and portfolio managers as the company’s standard mutual fund series, but in an investment that trades like a stock.