AIC Ltd. is adjusting its investment strategy with respect to hedging the company’s non-Canadian dollar currency value, it announced on Tuesday.
AIC intends that at least 50% of the its non-Canadian dollar currency value will be hedged back to the Canadian dollar at all times. Prior to this announcement, AIC’s intent was to hedge at least 90% of the its non-Canadian dollar currency value back to the Canadian dollar at all times.
Since May 31, 2004, the Canadian dollar has increased approximately 20.6% against the U.S. dollar. AIC believes that because of this rapid and significant increase, it is in the best interests of its shareholders to adjust its hedging strategy in order to provide greater flexibility given current market conditions.
AIC changes C$ investment strategy
At least 50% of the company’s non-Canadian dollar currency value will be hedged back to the C$ at all times
- By: IE Staff
- August 1, 2006 August 1, 2006
- 16:29