IA Clarington converts Tactical Yield Fund

IA Clarington announced today that as of April 30, 2012, the Aston Hill Tactical Yield Fund will be converted into an open-end mutual fund. It will be merged into the IA Clarington Tactical Income Fund.

Current investors are being asked to consider that the same portfolio manager, Ben Cheng, will lead the new fund. He currently manages both independently, and the only change is that in its new form, the fund doesn’t use leverage.

All investments will remain equal to their current value, and management fees and dealer compensation will remain the same. In addition, the total management expense of the new IA Clarington Tactical Income Fund will be lower.

Aston Hill Tactical Yield Fund will make a final distribution to investors around April 26, 2012 and, following its conversion, investors can redeem their investments at the daily net asset value without brokerage costs.

Staff

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