Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:New Round Of Mergers At AIM Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, November 15, 2005

New Round Of Mergers At AIM

Reported by Armie Margaret Lee

After embarking on a reorganization affecting eight funds earlier this year, a fresh wave of mergers is on the horizon for AIM Investments.

This time around, the Houston-based firm is targeting six funds with combined assets of at least $11.17 billion, which it plans to merge with five other funds.

The planned mergers are as follows:

  • AIM Aggressive Growth Fund ($1.55 billion in assets) into AIM Constellation Fund
  • AIM Blue Chip Fund ($1.89 billion in assets) into AIM Large Cap Growth Fund
  • AIM Mid Cap Growth Fund ($173 million in assets) into AIM Dynamics Fund
  • AIM Premier Equity Fund ($5.20 billion in assets) into AIM Charter Fund
  • AIM Small Company Growth Fund into AIM Small Cap Growth Fund
  • AIM Weingarten Fund ($2.36 billon in assets) into AIM Constellation Fund

    There’s no data available on AIM Small Company Growth Fund, which has limited public sales of its shares to select investors as of March 2002.

    If approved by shareholders at a February vote, the proposed restructuring will be in place by end-March 2006, the company said.

    David Bachert, manager of media relations for AIM Investments, declined to provide further details, saying the company will hold off from making additional comments until it has a proxy statement for shareholders approved by the SEC. That could take about a month, he said.

    AIM’s announcement seems to suggest that the company is moving to wipe out poor and mediocre performing funds from its lineup as it tries to trim costs.

    But AIM Weingarten is a different story. The fund, managed by Lanny Sachnowitz since 2002, has taken series of significant steps forward, resulting in an improved relative performance and lower volatility, according to a Morningstar commentary in August. It has averaged an annual return of 13.82 percent over the last three years, compared to the typical fund in the large-growth category.

    “We feel that investors can be heartened by the improved process and deeper analytical resources here, but the fund is still a good bit away from being a truly compelling choice," the Morningstar commentary read.

    It’s never going to reach that point since AIM has already given up on it.

    Earlier this year, AIM undertook a similar reorganization, merging eight lackluster funds into five others. The mergers were completed in July. 

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

  • 0.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2024: Q2Q1
    2023: Q4Q3Q2Q1
    2022: Q4Q3Q2Q1
    2021: Q4Q3Q2Q1
    2020: Q4Q3Q2Q1
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly




    ©All rights reserved to InvestmentWires, Inc. 1997-2024
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use