AIC Limited

AIC Limited

September 17, 2007 10:45 ET

AIC Limited Selects Citi to Provide Transfer Agency and Output Management Services

BURLINGTON, ONTARIO--(Marketwire - Sept. 17, 2007) - AIC Limited today announced that it has selected Citi to provide Transfer Agency and Output Management Services for its investment funds. This follows an agreement announced in March of this year whereby Citi was chosen to provide Fund Accounting, Global Custody and Securities Lending services to AIC.

As part of this agreement, over 60 AIC professionals will become Citi employees who will continue to provide Transfer Agency and Output Management Services as employees of Citi and will remain in Burlington.

"Citi has provided excellent service to our firm and we are pleased with the relationship. The quality of service we have received from Citi is exceptional," says Jonathan Wellum, Chief Executive Officer of AIC Limited. "By outsourcing the Transfer Agency and Output Management Services function to Citi, we can continue to concentrate on what we do best: delivering tax efficient, above-average returns over the long run to our investors. We expect this agreement to reduce costs for our investors and provide our Transfer Agency and Output Management staff with enhanced career opportunities with a global leader in fund services."

AIC commenced operations in 1985 and has grown to become one of Canada's largest privately-held mutual fund companies with assets under management exceeding $8 billion.

Contact Information

  • AIC Limited, Burlington ON
    Terri Oswald
    Director, Media Relations
    (905) 331-4242, ext. 4345 or 1-888-710-4242, ext. 4345
    Email: toswald@aic.com
    Website: www.aic.com