IA Clarington changes managers on four funds

IA Clarington Investments has announced changes to the portfolio management on four of its funds, following the departure of Pierre Bernard on Friday.

Effective immediately, Marc Gagnon, of Industrial Alliance Investment Management (IAIM) will lead the IAIM portfolio management team for both the IA Clarington Canadian Leaders Fund and IA Clarington Canadian Leaders Class.

“With more than 10 years experience managing Canadian large-cap equities, Marc’s expertise is well suited to the portfolio he is assuming,” said IA Clarington president David Scandiffio. “And he will be fully supported by IAIM’s deep team of analysts and portfolio managers, who collectively manage about $3.5 billion of assets for us.”

The company also named Dan Bastasic as team leader for the IA Clarington Canadian Income Fund and IA Clarington Dividend Income Fund. Bastasic joined IA Clarington in May.

“We’ve strengthened our lineup of portfolio managers with the addition of Dan and we want to move quickly to leverage his expertise in income and equity income mandates,” said Scandiffio. “After evaluating our product lineup, it’s clear that Dan’s experience and active approach investing in a wide range of asset classes makes him the best fit for these mandates.”

The company says it will review the investment strategies of both the Canadian Income Fund and Dividend Income Fund to ensure that they are consistent with Bastasic’s approach. It will also review the number of purchase options available on the funds.

Staff

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