International Financial Income and Growth Trust
TSX : FIT.UN

AIC Global Financial Split Corp.
TSX : ASC

AIC Global Financial Split Corp.
Global Banks Premium Income Trust
TSX : GBP.UN

August 01, 2006 16:47 ET

International Financial Income and Growth Trust Announces Change in Investment Strategy

BURLINGTON, ONTARIO--(CCNMatthews - Aug. 1, 2006) -

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

AIC Limited, Manager and Trustee of International Financial Income and Growth Trust (the "Trust")(TSX:FIT.UN) announced today that it is adjusting its investment strategy with respect to hedging the Trust's non-Canadian dollar currency value. AIC Limited intends that at least 50% of the Trust's non-Canadian dollar currency value will be hedged back to the Canadian dollar at all times. Prior to this announcement, AIC Limited's intent was to hedge at least 90% of the Trust's non-Canadian dollar currency value back to the Canadian dollar at all times.

Since July 31, 2005, the Canadian dollar has increased approximately 8.2% against the U.S. dollar. AIC Limited believes that because of this rapid and significant increase it is in the best interests of Unitholders of the Trust to adjust the Trust's hedging strategy to provide greater flexibility given current market conditions.

AIC commenced operations in 1985 and has grown to become one of Canada's largest privately held mutual fund company with assets under management of approximately $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
    toswald@aic.com
    www.aic.com