AIM Announces Agreement With U.S. Bancorp Piper Jaffray.Business Editors HOUSTON--(BUSINESS WIRE)--Feb. 14, 2001 AIM Private Asset Management, Inc. (APAM APAM Antipersonnel/Antimaterial APAM Association des Pompiers Auxiliaires de la Montérégie (French; Quebec firefighters) APAM Archives of Pediatric and Adolescent Medicine ), a subsidiary of A I M Management Group Inc. (AIM), has announced it has reached an agreement to have AIM's privately managed investment styles offered through the U.S. Bancorp  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. Piper Jaffray Piper Jaffray & Co. (NYSE: PJC), often shortened to just Piper Jaffray or PiperJaffray, is a U.S. middle-market investment banking firm based in Minneapolis, Minnesota and is a focused on delivering financial advice, investment products and transaction execution Managed Asset Group. AIM is a subsidiary of AMVESCAP PLC (NYSE NYSE See: New York Stock Exchange :AVZ), one of the world's largest independent investment managers. APAM, the recently formed private account division of AIM, focuses on high-net-worth and institutional clients by offering personalized investment styles managed by the same investment teams responsible for many of AIM's retail funds. These private asset management styles are offered through financial advisors seeking a personalized product tailored to their high-net-worth clients' specific investment objectives. U.S. Bancorp Piper Jaffray is the third of the nation's most recognized financial firms to sign with APAM, agreeing to offer three different APAM investment styles -- Blue Chip, Mid Cap Equity and Basic Value -- through its Managed Asset Group. APAM is negotiating to offer additional investment styles through the Managed Asset Group in the near future and a total of eight different portfolio styles throughout the financial industry as its client base expands. "Our agreement with U.S. Bancorp Piper Jaffray is another important step in the growth of this new area of AIM's business," said Mark McMeans, APAM president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "We are excited about developing this new relationship with one of the nation's premier financial management firms." Years of strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and disciplined growth have made AIM one of the nation's 10 largest money managers in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , according to independent investment industry monitor Strategic Insight, with approximately $170 billion in assets under management as of Dec. 31, 2000. AMVESCAP PLC had $402 billion in assets under management as of Dec. 31, 2000. For more information about APAM, access its Web site at www.aimprivateassetmgmt.com. |
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