AIC Ltd. today announced plans to streamline its product line with three proposed fund mergers.

AIC American Balanced Fund is to merge into AIC Global Balanced Fund; AIC American Balanced Corporate Class is to merge into AIC Value Corporate Class; and AIC Private Portfolio Counsel Income Pool is to merge into AIC Private Portfolio Counsel Bond Pool.

The mergers are expected to take place on December 15, 2006, subject to regulatory and shareholder approval.

The move is an effort to streamline AIC’s product offering and respond to client needs, the company said.

“AIC has a strong fund family and each of our Funds is managed by a team of professionals who follow disciplined value investing principles,” said Jonathan Wellum, AIC’s chief investment officer. “We believe these three fund mergers will serve not only to streamline but also to strengthen our core suite of Canadian, American, global and fixed-income funds, positioning AIC as a provider of funds that seeks to deliver long-term wealth to our investors.”

Meetings of unitholders are scheduled for November 22, 2006 at AIC’s head office in Burlington, Ont.

Effective on the close of business today, each of the terminating funds (AIC American Balanced Fund, AIC American Balanced Corporate Class, and AIC Private Portfolio Counsel Income Pool) will cease distribution of new units/shares (except purchases under existing pre-authorized chequing plans and dollar cost averaging plans), the company said.