IA Clarington Investments is appointing new portfolio managers to replace Aston Hill Asset Management and its chief investment officer Ben Cheng as sub-advisor on the IA Clarington Tactical Income Fund, the IA Clarington Tactical Bond Fund, and the IA Clarington Global Tactical Income Fund.
In a press release issued on Feb. 13, IA Clarington announced that it plans to bring management for two funds back in-house. Dan Bastasic, senior vice-president of investments at IA Clarington, will assume portfolio management responsibilities for the IA Clarington Tactical Income Fund while Jeff Sujitno, vice-president of investments at IA Clarington, will assume responsibilities for the IA Clarington Tactical Bond Fund. As for the IA Clarington Global Tactical Income Fund, it will be managed by Loomis, Sayles & Company, which is a new sub-advisor relationship for IA Clarington.
"We developed our family of tactical income funds to provide investors with a unique and flexible approach to generate an attractive and stable level of income in various market environments," comments IA Clarington’s president David Scandiffio. "After careful review, we believe our investors will benefit from the added depth, strong track records and expertise that these new investment teams bring to the funds."