IA Clarington Investments Inc. says QV Investors Inc. will assume lead portfolio sub-advisory responsibility for the IA Clarington Global Dividend Fund effective July 2, in place of the existing sub-advisor, BNP Paribas Investment Partners Canada Ltd.
Toronto-based IA Clarington says it intends to change the name of the fund to IA Clarington Global Equity Fund.
With nearly $11 billion in assets under management, Calgary-based QV is widely recognized in the Canadian investment community for their disciplined approach to investing, focusing on long-term ownership of companies and building portfolios that differ from the index to provide investors with superior risk-adjusted returns.
The portfolio managed by QV will be focused on 25-40 mid and large-cap names in developed countries around the world. QV has managed the IA Clarington Canadian Small Cap Fund since 1997 and was appointed to manage the IA Clarington Canadian Balanced Fund in 2009.
“We remain optimistic with the long term prospects of investing in some of the world’s strongest franchises and continue to see opportunities in the marketplace,” said Joe Jugovic, QV president, CIO & CEO. “We are very excited to continue to expand our partnership with IA Clarington, one of our longest standing and highly respected clients,” said Jugovic, who will be the lead portfolio manager for the fund.
The investment strategies of the fund will be amended to reflect QV’s investment process. All changes are subject to regulatory approvals.
Segregated fund options are available through the IA Clarington GIF and IA Ecoflex programs.