AIC Limited has entered into arrangements to increase its ownership from 20% to a total of 75% of Mississauga-based Georgian Capital Partners Inc., currently sub-advisor for the AIC Diversified Canada Fund and AIC American Advantage Fund. Completion of this agreement is subject to regulatory approval.

“We are very pleased to be further strengthening the in-house portfolio management team of AIC,” said Michael Lee-Chin, Chairman and Chief Investment Officer. Georgian Capital President Jonathan Wellum will continue to manage the two AIC Funds which have assets under management of approximately $4.7 billion.

Wellum was a member of AIC’s senior management team from 1990 to 1999. In 1999, he formed Georgian Capital Partners Inc. Prior to joining AIC, Wellum held positions in corporate accounting at Deloitte & Touche as well as CUMIS insurance.

Additional changes to the AIC Portfolio Management team, pending regulatory approval, include the following:

– Neil Murdoch has chosen to focus principally on managing AIC’s core international equity and global financial services funds, as lead manager of AIC World Advantage Fund, AIC Global Advantage Fund and AIC World Equity Fund, with combined assets under management of approximately $1.2 billion. Anne-Mette de Place Filippini will also continue as a portfolio management team member on these funds.
– Wellum will become lead portfolio manager of AIC Value Fund. AIC Value Fund has assets under management of approximately $1.4 billion.
– The management team of AIC Global Diversified Fund will include Anne-Mette de Place Filippini and Patricia Lamont as portfolio managers. Michele Calpin will focus on the management of AIC American Balanced Fund as lead portfolio manager along with Randy LeClair as portfolio manager.
– The management team of AIC Global Balanced Fund will include Anne-Mette de Place Filippini as lead portfolio manager and Randy LeClair as portfolio manager.