AIC today announced the appointment of Pat Naccarato as portfolio manager, subject to regulatory approval.

Naccarato will join the investment team with a focus on U.S. equities and will work with the existing portfolio management team on the AIC Value Fund, AIC American Balanced Fund, and anticipated closed-end fund offerings.

Naccarato has over 18 years experience in the investment industry. Prior to joining AIC, Naccarato was a key asset at Phillips Hager & North Investment Management where his primary focus was on the management of U.S. equities.

“The addition of Pat to our team reinforces our ongoing commitment to our investors to provide the best quality talent in our research group,” said Jonathan Wellum, chief investment officer, in a news release.

AIC has assets under management of approximately $9 billion.