European Premium Dividend Fund has filed and has received a receipt from the securities regulators of all the Canadian provinces and territories for an initial public offering of units.

Each $10 unit consists of one trust unit and one-half of a warrant. Each whole warrant entitles the holder to purchase one trust unit at a subscription price of $10 on or before 17:00 ET on Nov. 15, 2010, as described in the prospectus.

The fund is a closed-end investment trust whose investment objectives are: to provide holders of trust inits with monthly cash distributions; and to preserve and enhance the net asset value of the fund.

AIC Investment Services Inc. will be responsible for the fund’s overall investment strategy, including managing the composition of the portfolio of the fund.

The fund has been created to provide investors an opportunity to diversify away from North America via exposure to European dividend-paying issuers with strong credit ratings. AIC will invest in issuers that it believes have attractive dividend yields, strong earnings growth momentum and are in industries with high barriers to entry, supported by Europe’s strengthening economic environment.

As at September 17, the AIC’s assets under management totalled approximately $8 billion of which approximately $4.3 billion was invested in the global financial services industry.

A syndicate of agents is being co-led by CIBC World Markets Inc. and RBC Capital Markets and includes Scotia Capital Inc., TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Berkshire Securities Inc., Canaccord Adams, Desjardins Securities Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Bieber Securities Inc., Blackmont Capital Inc., Burgeonvest Securities Limited, Laurentian Bank Securities Inc. and Wellington West Capital Inc.