AIM Announces Manager Additions to Closed-End Eastern Europe Fund.HOUSTON--(BUSINESS WIRE)--Aug. 17, 1998--A I M Advisors, Inc., the investment management subsidiary of A I M Management Group, Inc., today announced the addition of several new managers to AIM Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. Fund (NYSE NYSE See: New York Stock Exchange :GTF GTF glucose tolerance factor. ), formerly GT Global Eastern Europe Fund. AIM Eastern Europe Fund will be managed by Peter Jarvis JARVIS Just A Rather Very Intelligent System (Iron Man Film) , Jonathan Brock brock n. Chiefly British A badger. [Middle English brok, from Old English broc, of Celtic origin.] , Nadya Wells, and Roy Bracher. All are portfolio managers with INVESCO Global in London and members of INVESCO's Eastern Europe management team. Mr. Jarvis will be the lead manager of the Fund, with Mr. Brock assisting with day-to-day operations. In addition to four portfolio managers, all of whom have experience with the Eastern European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. sector, the Fund will also utilize a team of three analysts who have substantial knowledge of the region. The Fund aims to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the extensive resources INVESCO Global has historically dedicated to Eastern Europe. Mr. Jarvis began his investment career in 1993 as a member of the INVESCO Global Emerging Markets Team. In 1998 he became a member of the INVESCO Central and Eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. Asset Management Group (CEAM CEAM Center for Exposure Assessment Modeling CEAM Cumulative Effects Assessment and Management CEAM Centre d'Estudis Ambientals del Mediterrani (Mediterranean Environmental Studies Center) ) specializing in Eastern Europe. Mr. Bracher is the founder and managing director of INVESCO's CEAM team. He began his investment career with INVESCO in 1989. Ms. Wells began her investment career with INVESCO in 1995. Mr. Brock began his investment career with INVESCO in 1994. AIM, which became the new investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and to the former GT Global Funds on May 29, was founded in 1976 and had approximately $101 billion 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. and 5.2 million shareholders as of June 30, 1998. AIM is a subsidiary of AMVESCAP PLC (NYSE:AVZ), one of the world's largest independent investment services companies, whose subsidiaries had $260 billion in assets under management as of June 30, 1998. -0-
The following information is released by INVESCO (NY), Inc.,
investment sub-advisor for the Fund, and reflects the Fund's
allocations and holdings as of July 31, 1998.(1)
Fund Name AIM Eastern Europe Fund (closed-end);(NYSE:GTF)
Net Assets $72,409,728
Geographical Allocations % of Net Assets
Portfolio Composition
(% of Net Assets) 1 Russia 39.29
2 Hungary 27.43
Cash / Other Assets 13.27 3 Poland 9.69
Bonds 0.00 4 Slovakia 2.21
Foreign Securities 86.73(2) 5 Romania 2.00
Total 100.00 6 Baltic Rep 1.99
7 Ukraine 1.40
8 Croatia 0.73
9 Czech Rep 0.61
10 Other 14.65
Ten Largest Holdings Country % of Net Assets
1. Matav RT Hungary 8.94
2. Magyar Olaj Hungary 8.41
3. Surgutneft Russia 7.49
4. Unified Energy Russia 4.61
5. Vimpel Communications Russia 4.15
6. Bank Rozwoju Eksport Poland 4.12
7. Rostelekom Russia 3.67
8. Gazprom Russia 3.01
9. Uralmash Zavody Russia 2.96
10. Gedeon Richter Hungary 2.94
A I M Distributors, Inc., Distributor
(1) Holdings and allocations may change as market conditions change.
(2) This number also represents ADRs and similar holdings.
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CONTACT: AIM, Houston
Ivy McLemore, 713/214-1904
ivy_mclemore@aimfunds.com
or
John Roehm 713/214-7928
john_roehm@aimfunds.com
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