AIC Limited
AIC Limited was a Canadian mutual fund company which commenced operations in 1985, as Total Finance.[1] AIC was purchased in 1987 by Michael Lee-Chin, Chairman. In May 2008, the company’s total assets under management were just over $5.6 billion (IFIC numbers). In October 2006, Jonathan Wellum was appointed chief executive officer. AIC was acquired by Manulife in 2009.[2]
AIC specialized in the financial services sector and is a strong believer in the use of leverage. They coined the term "upvest" to try to remove some of the stigma associated with the term leverage.
The firm’s motto was "Buy, Hold, and Prosper", and reflects a belief in purchasing value stocks and holding them for the long term.
AIC also had a series of closed-end funds under the Copernican Capital banner.
See also
References
- ↑ Francis (Diane), Who owns Canada Now
- ↑ "Manulife Financial closes transaction to acquire AIC Canadian retail investment funds". PR Newswire. 25 September 2009. Retrieved 26 April 2023.
External links
- Official upvest site
- Closed ended funds site
- Lee Chin to focus on developing AIC as international company - October 8, 2006 (Jamaica Gleaner Newspaper)
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