Copernican World Financial Infrastructure Trust

AIC Diversified Canada Split Corp.

AIC Diversified Canada Split Corp.
AIC Global Financial Split Corp.

AIC Global Financial Split Corp.
Global Banks Premium Income Trust

International Financial Income and Growth Trust

Copernican Capital Corp.

Copernican Capital Corp.
Copernican World Banks Income and Growth Trust

August 04, 2006 12:38 ET

Copernican World Financial Infrastructure Trust Announces Closing of $23.5 Million Initial Public Offering of Trust Units

BURLINGTON, ONTARIO--(CCNMatthews - Aug. 4, 2006) -

This press release is not for distribution in the United States.

Copernican Capital Corp. (the "Manager") is pleased to announce that Copernican World Financial Infrastructure Trust (the "Trust") has completed its initial public offering of 2,350,000 units of the Trust (the "Units") at a price of $10.00 per Unit for gross proceeds of $23,500,000. The Trust has granted the agents an over-allotment option to acquire up to 352,500 Units, which is exercisable at any time during the next 30 days.

The Trust Units commenced trading today on the Toronto Stock Exchange under the symbol "CIW.UN".

The Trust is a closed-end investment trust whose investment objectives are:

(i) to provide Unitholders with monthly cash distributions (which for the initial 18 months of the Trust is expected to be $0.50 per Unit per annum, representing a yield of 5% per annum based on the $10.00 per unit issue price, and commencing in 2008 will be determined and announced by the Trust on an annual basis); and

(ii) to preserve and enhance the net asset value of the Trust.

AIC Investment Services Inc. (the "Investment Manager") will be responsible for the Trust's overall investment strategy. The Trust will invest in an actively managed diversified portfolio of securities consisting of equity securities of issuers that underpin the world's financial infrastructure, including those whose businesses dominate custodian and wealth management, securities exchanges, insurance brokerage, financial networks and processing and financial information.

As at July 18, 2006, the Investment Manager's assets under management totalled approximately $8.1 billion of which approximately $4.0 billion was invested in the global financial services industry.

The offering was made through a syndicate of agents, led by CIBC World Markets Inc. and that included RBC Dominion Securities Inc., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., TD Securities Inc., Berkshire Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Bieber Securities Inc., Blackmont Capital Inc., Dundee Securities Corporation, Raymond James Ltd. and Wellington West Capital Inc.

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

Contact Information

  • Media Contact:
    AIC Limited, Burlington ON
    Terri Oswald
    Director, Media Relations
    (905) 331-4242, ext. 4345 or 1-888-710-4242, ext. 4345