Skip navigation

Mutual Fund News


Larry Sarbit has been running money for nearly 20 years, but the clock starts again Monday.

His Sarbit U.S. Equity Trust and the IA Clarington U.S. Dividend Fund will be merged into the IA Clarington Navellier U.S. All Cap Fund. But he will pilot a fund under a new name - IA Clarington Sarbit U.S. Equity - with about $130-million in assets, and start building a new track record.

"It's a new world," the Winnipeg-based fund manager said yesterday. "I am not sure whether that is good thing or a bad thing, but I wish I had my track record out there going forward."

Sarbit U.S. Equity Trust posted an average annual loss of 8.3 per cent over three years ended April 30, compared with a 10.8-per-cent loss by the Russell 2000 index in Canadian dollars. Since 2000, IA Clarington Navellier U.S. Equity has been managed by Reno, Nevada-based growth manager Louis Navellier. It has had an average annual loss of 20 per cent for the three years ended April 30.

Mr. Sarbit's fund currently has 65 to 70 per cent cash after selling into the recent rally. "We hold cash because we can't find ideas," he said. "I look at [cash] it as huge opportunities - to buy things - but a lot of people don't agree."

IA Clarington last fall acquired Sarbit Asset Management Inc., which he founded in 2005.

See Shirley Won's Fund Watch blog at the new

© 2007 The Globe and Mail. All rights reserved.

Search Fund News

Advanced Search

Only GlobeinvestorGOLD combines the strength of powerful investing tools with the insight of The Globe and Mail.

Discover a wealth of investment information and and exclusive features.

Free E-Mail Newsletters

  • Morning news headlines
  • Morning business headlines
  • Financial highlights
  • Tech alert
  • Leisure

Sign-up for our free newsletters

Back to top