AIC Limited was a Canadian
mutual fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV ...
company which commenced operations in 1985, as Total Finance. AIC was purchased in 1987, by
Michael Lee-Chin
Michael Lee-Chin, (born 3 January 1951) is a Jamaican-Canadian billionaire businessman, and philanthropist and the chairman and CEO of Portland Holdings Inc, a privately held investment company in Ontario, Canada.
Lee-Chin was appointed to th ...
,
Chairman. In May 2008, the company's total assets under management was just over $5.6 billio
IFICnumbers. In October 2006, Jonathan Wellum was appointed
Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...
. AIC was acquired by Manulife in 2009.
[http://www.manulife.com/public/news/detail/0,,lang=en&artId=145541&navId=630002,00.html]
AIC specialized in the
financial service
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, ...
s sector and is a strong believer in the use of
leverage
Leverage or leveraged may refer to:
*Leverage (mechanics), mechanical advantage achieved by using a lever
* ''Leverage'' (album), a 2012 album by Lyriel
*Leverage (dance), a type of dance connection
*Leverage (finance), using given resources to ...
, they coined the term "upvest" to try to remove some of the
stigma associated with the term leverage.
The firms motto was "Buy, Hold and Prosper", and reflects a belief in purchasing
value stock
Value investing is an investment paradigm that involves buying securities that appear underpriced by some form of fundamental analysis. The various forms of value investing derive from the investment philosophy first taught by Benjamin Graham an ...
s and holding them for the long term.
AIC also had a series of
closed-end funds under the Copernican Capital banner.
See also
*
List of mutual fund companies in Canada
This is a list of mutual-fund families in Canada ranked by Canadian mutual fund assets under management (AUM), as of May 31, 2008.
Footnotes
See also
* List of investment management firms
{{DEFAULTSORT:List Of Mutual-Fund Families In Canada
...
References
External links
Official siteOfficial upvest siteClosed ended funds site- October 8, 2006 (Jamaica Gleaner Newspaper)
Mutual fund companies of Canada
Financial services companies established in 1985
1985 establishments in Canada
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