Closing the Books on Another Growth Year
With its most recent fiscal year having ended on September 30, ACIC has fulfilled
expectations of record-breaking growth in new funds under management, despite
unprecedented turmoil in financial markets.
During fiscal 2007/08 ACIC shareholders invested a total of $7.5 million in new funds
with the company. That’s up significantly over $4.8 million and $2.4 million in the
previous two fiscals. The company saw steady growth quarter-to-quarter and exceeded
$2 million in single-quarter growth for the first time in April-June.
While the final month of the year coincided with some of the most dramatic financial-
market events that have yet occurred during the unfolding credit crisis, ACIC
nevertheless posted its second-highest level of monthly growth ever at just under $1
million.
ACIC President Don Bergman says the growth is gratifying and underscores the
particular importance investors attach to conservative strategies and reliable returns, in
light of recent market developments.
“I think people are taking a harder look at investment products, and steering clear of risk
factors like over-leveraging and questionable security,” Don says. “A growing number of
investors seem to be concluding that ACIC offers the sort of stability they’re looking for.”
Don adds that the growth in invested funds puts ACIC in a particularly strong position to
act on the many attractive financing opportunities that are presenting themselves as
other competing lenders withdraw from the market.