BURLINGTON, ONTARIO -- 12/01/08 --
AIC Limited today announced the completion of 12 previously announced fund mergers:
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TERMINATING FUND CONTINUING FUND
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November 28th, 2008 Mergers
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AIC Diversified Income Portfolio Fund Value Leaders Income Portfolio
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Value Leaders Balanced Income
AIC Balanced Income Portfolio Fund Portfolio
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Value Leaders Balanced Growth
AIC Balanced Growth Portfolio Fund Portfolio
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AIC Core Growth Portfolio Fund Value Leaders Growth Portfolio
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AIC Diversified Science & Technology Fund AIC Value Fund
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AIC Diversified Science & Technology
Corporate Class AIC Value Corporate Class
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AIC Global Banks Fund AIC Global Advantage Fund
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AIC Global Insurance Fund AIC Global Advantage Fund
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Value Leaders Balanced Income
AIC PPC Balanced Income Portfolio Pool Portfolio
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Value Leaders Balanced Growth
AIC PPC Balanced Growth Portfolio Pool Portfolio
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AIC PPC Core Growth Portfolio Pool Value Leaders Growth Portfolio
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AIC Global Premium Dividend
Income Fund (formerly known
as "AIC Global Diversified
AIC Private Portfolio Counsel Global Pool Diversified Fund")
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The following funds will be merged on December 15th, 2008:
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TERMINATING FUND CONTINUING FUND
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AIC World Financial Infrastructure
Income and Growth Fund AIC Global Wealth Management Fund
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AIC Private Portfolio Counsel Bond Pool AIC Bond Fund
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A positive recommendation from the Independent Review Committee for the mergers of the Terminating and applicable Continuing Funds was received on September 24th, 2008, regulatory approval was received on October 30th, 2008, and securityholder approval was received on November 19th, 2008 and November 24th, 2008. Investors in the Terminating Funds have become investors in the corresponding Continuing Funds as a result of the mergers. For the Corporate Class merger, under a dollar-for-dollar exchange formula, the dollar value of the investors' investments in the Terminating Funds were transferred to the respective class of the Continuing Funds.
For the mergers of the Trust Funds, the holders of Mutual Fund Units, Class F Units and Class O Units of the Terminating Funds (except as otherwise indicated) received Mutual Fund Units, Class F Units and Class O Units of the applicable Continuing Funds.
The holders of Class T5 Units and Class T8 Units of AIC Global Insurance Fund and AIC Global Banks Fund received Mutual Fund Units of AIC Global Advantage Fund. The holders of Class T Units of AIC PPC Balanced Income Portfolio Pool received Class T5 Units of Value Leaders Balanced Income Portfolio, and the holders of Class T Units of AIC PPC Balanced Growth Portfolio Pool received Class T6 Units of the Value Leaders Balanced Growth Portfolio.
For the December 15th mergers, the holders of Mutual Fund Units of AIC World Financial Infrastructure Income and Growth Fund will receive Class T5 Units of AIC Global Wealth Management Fund, the holders of Class F Units of AIC World Financial Infrastructure Income and Growth Fund will receive Class F Units of AIC Global Wealth Management Fund and the holders of U.S. Dollar ("USD") currency Mutual Fund Units of AIC World Financial Infrastructure Income and Growth Fund will receive USD currency Mutual Fund Units of AIC Global Wealth Management Fund.
Additionally, as previously announced, the following funds will be renamed on December 15th, 2008:
- AIC Private Portfolio Counsel Canadian Pool to be renamed AIC Canadian
Equity Fund
- AIC Private Portfolio Counsel Global Fixed Income Pool to be renamed AIC
Global Fixed Income Fund
- AIC Private Portfolio Counsel U.S. Small to Mid Cap Pool to be renamed
AIC American Small to Mid Cap Fund
AIC commenced operations in 1985 and has grown to become one of Canada's largest privately-held mutual fund companies with assets under management of approximately $3.7 billion.
Contacts:
Media Contact: AIC Limited, Burlington ON
Terri Oswald
Director, Media Relations
(905) 331-4242, ext. 4345
Email: toswald@aic.com
Website: www.aic.com
