ClaringtonFunds Inc. announced today that Toronto-based KBSH Capital Management Inc. will assume the sub-advisory responsibilities for the Clarington U.S. Growth Fund.

KBSH will replace Nicholas-Applegate Capital Management.

“We are delighted that KBSH has agreed to manage the Clarington U.S. Growth Fund. They have an excellent performance record and a very impressive investment management team,” said Terry Stone, Clarington’s chairman and founder in a news release.

For more than 20 years KBSH, previously known as Knight, Bain, Seath & Holbrook Capital Management Inc., has managed U.S., Canadian and International equity portfolios for clients including pension accounts, WRAP accounts and private assets. KBSH’s growth approach is based upon disciplined security selection. The team invests in quality growth companies, seeking investments with a combination of strong sales growth, superior cash flow and earnings growth. KBSH is also the sub-advisor for the Clarington Canadian Growth Fund.

KBSH currently has approximately $8 billion in assets under management, while wnership is entirely in the hands of the firm’s principals.

ClaringtonFunds Inc. has over $2.7 billion in assets in 37 funds, with offices in, Calgary, Toronto and Montreal. All of ClaringtonFunds’ mutual funds are sub-advised by well-known Canadian and international investment managers.