TORONTO – September 4, 2024 /CNW/ - IA Clarington Investments Inc. (“iA Clarington” or “the Firm”) today announced a new partnership with renowned global fixed-income specialist Dan Janis and the expansion of the Firm’s longstanding relationship with Boston-based Loomis, Sayles & Company, L.P. (“Loomis Sayles”), a global leader in investment management with over US$359 billion in assets.1

These changes impact three iA Clarington funds:

  • IA Clarington Core Plus Bond Fund is now sub-advised by Mr. Janis’s new firm, Agile Investment Management, LLC (“Agile”). Mr. Janis, who previously was responsible for over US$30 billion in retail and institutional assets, 2 is Agile’s Chief Investment Officer and the fund’s lead portfolio manager. Peter Azzinaro, Jonathan Birtwell and Noelle Corum will be working closely with Mr. Janis as named portfolio managers on the fund.
  • IA Clarington Floating Rate Income Fund and IA Clarington U.S. Dollar Floating Rate Income Fund are now sub-advised by Loomis Sayles. Michael Klawitter and Heather Young are co-lead portfolio managers on both funds.

“This exciting news is a testament to our commitment to establishing enduring relationships with leading portfolio managers. Mr. Janis is an industry titan who has helped investors achieve their goals for over three decades, and we are thrilled that he and his experienced team have chosen iA Clarington as their new partner. Our partners at Loomis Sayles have built a reputation for excellence for almost a century, and this latest expansion of our relationship underscores our recognition of the value they bring to Canadian investors,” said Catherine Milum, President & CEO, iA Clarington.

“These important changes reflect our strategic focus on offering investors deep expertise and broad global opportunities across our suite of fixed-income solutions. In line with this focus, in the coming weeks we will be launching a new global fixed-income fund sub-advised by the Agile team,” said Kos Lazaridis, Senior Vice-President, Chief Product Officer & Head of Strategy, iA Clarington.

Core Plus

IA Clarington Core Plus Bond Fund will maintain its focus on income generation and capital preservation by investing primarily in short-duration investment grade corporate bonds, complemented with an allocation to securities offering enhanced yield potential, including a 25% max. to high yield. The differentiated approach employed by the Agile team broadens the opportunity set of the fund to include the full spectrum of global fixed-income opportunities.

Agile’s investment process features three key pillars:

  • Top-down sector selection driven by proprietary macroeconomic analysis.
  • Bottom-up security selection, complemented by interest rate and active currency strategies to enhance diversification and yield potential.
  • Continuous, rigorous monitoring of portfolio holdings to ensure comprehensive risk management.

“I am thrilled to be back with a handpicked, proven team at my new firm and a strong, stable partner in iA Clarington. With high interest rates and elevated levels of volatility, today’s market environment offers nimble, active fixed-income investors opportunities we have not seen in almost 20 years. We look forward to taking full advantage of those opportunities to help Canadian investors achieve their income and wealth-creation goals,” said Mr. Janis.

Visit iaclarington.com/Agile to learn more about Agile Investment Management and the IA Clarington Core Plus Bond Fund.   

Floating Rate Income

IA Clarington Floating Rate Income Fund and IA Clarington U.S. Dollar Floating Rate Income Fund will remain focused on generating attractive monthly income streams by investing primarily in floating rate loans. Both funds will now benefit from Loomis Sayles’ pioneering expertise in this space and the firm’s deep credit research capabilities.

Key features of Loomis Sayles’ disciplined approach include:

  • Security selection based on fundamental credit analysis of issuers, involving review of business fundamentals, financial position, cash flow and liquidity, as well as industry analysis and assessment of terms, covenants and creditor protection.
  • Top-down analysis of the interest rate and credit cycle, as well as market conditions.
  • Focus primarily on generating contractual returns rather than capital gain potential.

Click here to learn more about Loomis Sayles’ approach to managing iA Clarington’s Floating Rate Income mandates. 

There is no change to the investment objectives of IA Clarington Core Plus Bond Fund, IA Clarington Floating Rate Income Fund and IA Clarington U.S. Dollar Floating Rate Income Fund. With today’s announcement, Wellington Square3 is no longer the sub-advisor of these mandates.

1Source: Loomis Sayles, as at June 30, 2024. Includes the assets of Loomis, Sayles & Co., L.P., and Loomis Sayles Trust Company, LLC. Loomis Sayles Trust Company is a wholly owned subsidiary of Loomis, Sayles & Company, L.P.).

2Source: eVestment, as at March 31, 2023. Dan Janis was Head of Global Multi-Sector Fixed Income, Senior Portfolio Manager and Lead Portfolio Manager at a major asset management firm from 1999 to 2023, with responsibility for over US$30 billion in retail and institutional assets across several global fixed-income mandates.

3Wellington Square refers to Wellington Square Capital Partners Inc. and Wellington Square Advisors Inc.

About IA Clarington Investments Inc.

A subsidiary of Industrial Alliance Insurance and Financial Services Inc. – Canada’s fourth-largest life and health insurance company – iA Clarington offers a wide range of investment products, including actively managed mutual funds, managed portfolio solutions, Active ETF Series and socially responsible investments. As of July 31, 2024, iA Clarington has over $20 billion in assets under management. Visit iaclarington.com for more information.

About Agile Investment Management, LLC

Agile Investment Management, LLC is a U.S.-based, SEC-registered boutique asset manager. Founded by Dan Janis and Kai Sotorp, Agile operates as an operator-owned partnership, specializing in global fixed-income investment management for institutional and retail clients.

About Loomis, Sayles & Company, L.P.

Since 1926, Loomis, Sayles & Company has helped fulfill the investment needs of institutional and mutual fund clients worldwide. The firm’s performance-driven investors integrate deep proprietary research and integrated risk analysis to make informed, judicious decisions. Teams of portfolio managers, strategists, research analysts and traders collaborate to assess market sectors and identify investment opportunities wherever they may lie, within traditional asset classes or among a range of alternative investments. Loomis Sayles has the resources, foresight and the flexibility to look far and wide for value in broad and narrow markets in its commitment to deliver attractive sustainable returns for clients. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages US$359 billion in assets (as of June 30, 2024; includes the assets of Loomis, Sayles & Co., L.P., and Loomis Sayles Trust Company, LLC. Loomis Sayles Trust Company is a wholly owned subsidiary of Loomis, Sayles & Company, L.P.).

For definitions of technical terms in this piece, please visit iaclarington.com/glossary and speak with your investment advisor.

The information provided should not be acted upon without obtaining legal, tax and investment advice from a licensed professional. Statements by the portfolio manager or sub-advisor represent their professional opinion and do not necessarily reflect the views of iA Clarington. Specific securities discussed are for illustrative purposes only and should not be considered a recommendation to buy or sell. Mutual funds may purchase and sell securities at any time and securities held by a fund may increase or decrease in value. Past investment performance may not be repeated. Unless otherwise stated, the source for information provided is the portfolio manger.  Statements that pertain to the future represent the portfolio manager’s current view regarding future events. Actual future events may differ.

Commissions, trailing commissions, management fees, brokerage fees and expenses all may be associated with mutual fund investments, including investments in exchange-traded series of mutual funds. The information presented herein may not encompass all risks associated with mutual funds. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The iA Clarington Funds are managed by IA Clarington Investments Inc. iA Clarington and the iA Clarington logo, iA Wealth and the iA Wealth logo, and iA Global Asset Management, iAGAM and the iA Global Asset Management logo are trademarks of Industrial Alliance Insurance and Financial Services Inc. and are used under license. iA Global Asset Management and iAGAM are trademarks and tradenames under which Industrial Alliance Investment Management Inc. and its subsidiary iA Global Asset Management Inc. operate.

For further information: Rob Martin, VP, Marketing & Communications, iA Clarington Investments, rob.martin@iaclarington.com