AIC Ltd. today announced plans to reduce the minimum initial investment required to purchase AIC Private Portfolio Counsel (PPC) Pools and also announced changes to the equity weightings in AIC PPC Balanced Income Portfolio Pool and AIC PPC Balanced Growth Portfolio Pool, effective immediately.
“AIC Ltd. is very proud of its AIC PPC Pools fund family,” said Jonathan Wellum, AIC CEO and chief investment officer, in a news release. “These funds offer four of North America’s leading value investing managers – AIC Ltd., Third Avenue Management LLC, Ariel Capital Management, LLC and Loomis Sayles & Co., L.P. The products also feature automatic rebalancing and enhanced statements. We believe that lowering the initial investment threshold into the AIC PPC Pools will enable an even greater number of Canadian investors to have the opportunity to access these best in class managers, each offering proven track records in capital preservation and growth.”
As part of AIC Ltd.’s special fall and RRSP season promotion, AIC Ltd. has reduced the minimum initial investment in the AIC PPC Pools to $250 from $25,000 effective immediately. The initial investment in any one of the AIC PPC Pools for Mutual Fund Units, Class F Units and Class T Units must be at least $250, except for investments made pursuant to a Pre-Authorized Chequing Plan. The minimum limit of $250 is subject to change at the discretion of the Manager. Each additional investment must be at least $50.
There are 5 individual funds available for investment in the AIC PPC Pools fund family including AIC PPC Canadian Pool; AIC PPC Global Pool; AIC PPC Bond Pool; AIC PPC U.S. Small to Mid-Cap Pool (sub-advised by Ariel Capital Management, LLC); AIC PPC Global Fixed Income Pool (sub-advised by Loomis Sayles & Company, L.P.). There are also 3 fund-of-fund portfolio pools available including AIC PPC Balanced Growth Portfolio Pool; AIC PPC Balanced Income Portfolio Pool; and AIC PPC Core Growth Portfolio Pool. Combined assets in the AIC PPC Pools fund family exceed $169 million.
AIC Ltd. will be adding AIC Global Focused Fund to the allocation mix for two of its fund-of-fund portfolio pools — specifically, AIC PPC Balanced Income Portfolio Pool and AIC PPC Balanced Growth Portfolio Pool. AIC Global Focused Fund is currently sub-advised by the New York based investment firm, Third Avenue Management, LLC. Third Avenue was founded in 1986 by the legendary Marty Whitman — one of the most respected names in value investing in the U.S.
The allocation of AIC PPC Balanced Income Portfolio Pool in the underlying Pools will be as follows:
- AIC Private Portfolio Counsel Bond Pool, 45%;
- AIC Private Portfolio Counsel Global Pool, 15%;
- AIC Private Portfolio Counsel Global Fixed Income Pool, 15%;
- AIC Private Portfolio Counsel Canadian Pool, 15%;
- AIC Private Portfolio Counsel U.S. Small to Mid Cap Pool, 5%; and
- AIC Global Focused Fund, 5%>
The allocation of AIC PPC Balanced Growth Portfolio Pool in the underlying Pools will be as follows:
- AIC Private Portfolio Counsel Bond Pool, 30%;
- AIC Private Portfolio Counsel Global Pool, 20%;
- AIC Private Portfolio Counsel Canadian Pool, 20%;
- AIC Private Portfolio Counsel Global Fixed Income Pool, 10%;
- AIC Private Portfolio Counsel U.S. Small to Mid Cap Pool, 10%;
- AIC Global Focused Fund, 10%.