AIM Announces Changes To AIM Global Financial Services Fund.
A I M Advisors, Inc., the investment management subsidiary of A I M Management Group Inc., has announced a change in portfolio management of AIM Global Financial Services Fund, formerly GT Global Financial Services Fund. AIM is a subsidiary of independent global investment manager AMVESCAP PLC (NYSE:AVZ).
Effective June 21, the Fund's management team will be led by Robert Shelton and include Barrett Sides, Brad Conger, and Christopher Perras. The new management team replaces James Ellman, who had been the sole manager on the fund since October 1995.
The Fund's objective and investment strategy will remain the same. AIM believes added depth to the Fund's management should benefit shareholders in the long-term.
AIM Global Financial Services Fund was one of 25 GT Global Funds that joined the AIM Family of Funds on June 1, 1998. Their addition to the AIM Family of Funds occurred in conjunction with parent company AMVESCAP's acquisition of the Asset Management Division (AMD) of the Liechtenstein Global Trust. AMD operated in the United States under the brand GT Global.
AIM was founded in 1976 and ranks as the nation's 10th-largest mutual fund complex, according to independent mutual fund monitor Strategic Insight, with approximately $112 billion in assets under management and 6.3 million shareholders as of March 31, 1999. AMVESCAP had $280 billion in assets under management as of March 31, 1999.
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