AIC rolls out new Preferred Income Fund

Tue. April 21, 2009; Posted: 08:30 AM

Apr 21, 2009 (Datamonitor via COMTEX) -- PFD | Quote | Chart | News | PowerRating -- AIC, a Canada-based mutual fund company, has launched the new AIC Preferred Income Fund, intended to enable investors to tap into the current opportunities available in the preferred share market.

Lead manager of the new AIC Preferred Income Fund will be Randy LeClair, senior vice president and portfolio manager.

AIC said that the fundamental investment objective of the AIC Preferred Income Fund is to generate steady income and achieve capital preservation and appreciation by investing primarily in preferred shares of Canadian companies, royalty and income trusts and fixed income securities. The fund may also invest in common shares of Canadian companies.

Jonathan Wellum, AIC's CEO and chief investment officer, said: "At AIC, we recognize that many financial advisors and investors would like to ease their way back into the markets while still protecting their current portfolios against additional risk and volatility.

"With its focus on reducing risk and volatility and also generating a predictable income stream, we believe the new AIC Preferred Income is an ideal fund to help investors begin to take steps to earning the returns they'll need in order to achieve their long-term investment and retirement goals."

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