AIC Ltd. today announced that after the close of business on December 13 the net assets of several funds were transferred into the continuing funds.
The funds were transferred as follows:
- AIC Global Advantage Fund exchanged for AIC World Advantage Fund(1)
The continuing funds marked (1) were renamed AIC Global Advantage Fund, AIC RSP Global Advantage Fund and AIC Global Advantage Corporate Class respectively.
The continuing funds marked (2) were renamed AIC Diversified Science & Technology Fund, AIC RSP Diversified Science & Technology Fund and AIC Diversified Science & Technology Corporate Class respectively.
Investors approved these mergers at special meetings held on November 27, in Burlington, Ont.
Investors in the terminating funds have become investors in the corresponding continuing funds as a result of the mergers. Under a dollar-for-dollar exchange formula, the dollar value of the investors’ investments in the terminating funds were transferred to the respective continuing funds.
Investors in AIC World Advantage Fund and AIC World Advantage Corporate Class approved a change in the investment objective of those funds to provide for a more global investment mandate, including investment in the United
States.
Investors in AIC Global Technology Fund and AIC Global Technology Corporate Class approved a change in the investment objective of those funds to more clearly provide for investments in Science & Technology.