AIC Limited is a Canadian

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

 mutual fund

Mutual fund

A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities.- Overview :...

 company which commenced operations in 1985, as Total Finance. AIC was purchased in 1987, by Michael Lee-Chin

Michael Lee-Chin

The Honourable Michael Lee-Chin, OJ is a Jamaican-Canadian investor. He is the founder and Chairman of Portland Holdings Inc., a privately held investment company which owns a collection of diversified operating companies in sectors that include media, tourism, health care telecommunications and...

, Chairman, and has assets under management of just over $5.6 billion as of May 2008 IFIC

IFIC

IFIC may mean:*IFIC Bank, a private commercial bank in Bangladesh*Interim Forum for an Independence Convention, another term for Independence Convention, supporters of Scottish independence*NDLC-IFIC Bank, Pakistan*International Food Information Council...

numbers. As of October 2006, Jonathan Wellum has been the Chief Executive Officer

Chief executive officer

A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...

.

AIC is a firm specialized in the financial services sector and a strong believer in the use of leverage

Leverage (finance)

In finance, leverage is a general term for any technique to multiply gains and losses. Common ways to attain leverage are borrowing money, buying fixed assets and using derivatives. Important examples are:* A public corporation may leverage its equity by borrowing money...

, they coined the term "upvest" to try to remove some of the stigma

Social stigma

Social stigma is the severe disapproval of or discontent with a person on the grounds of characteristics that distinguish them from other members of a society.Almost all stigma is based on a person differing from social or cultural norms...

 associated with the term leverage.

The firms motto is "Buy, Hold and Prosper", and reflects a belief in purchasing value stocks and holding them for the long term.

AIC also has a series of Closed end fund under the Copernican Capital banner.

External links

• Official site
• Official upvest site
• Closed ended funds site
• Lee Chin to focus on developing AIC as international company - October 8, 2006 (Jamaica Gleaner Newspaper)