AIM Announces Portfolio Manager Changes.Business Editors HOUSTON--(BUSINESS WIRE)--Jan. 23, 2002 A I M Capital Management, Inc., the portfolio management subsidiary of A I M Management Group Inc. (AIM), announced that effective Thursday Thursday: see week. , Jan. 24, it is changing the portfolio management teams for two of its flagship funds. AIM is an indirect subsidiary of AMVESCAP PLC (NYSE NYSE See: New York Stock Exchange :AVZ), one of the world's largest independent investment managers. Jonathan C. Schoolar, a member of AIM's large-cap Large-cap A stock with a high level of capitalization, usually at least $5 billion market value. large-cap 1. Of or relating to the common stock of a big corporation that has considerable retained earnings and a large amount of growth management team for 15 years, has requested a reduced role in his overall responsibilities. Accordingly, Mr. Schoolar has decided to step down from his position as lead portfolio manager of AIM Weingarten Fund, but will remain an active member of AIM's investment department. Lanny H. Sachnowitz, who had been lead manager for AIM Charter Fund since 1991, will replace Mr. Schoolar on AIM Weingarten Fund. Ronald S. Sloan, lead manager for AIM Mid Cap Equity Fund, will assume Mr. Sachnowitz's previous role with AIM Charter Fund. Mr. Sachnowitz brings more than a decade of large-cap growth management experience at AIM to his new role with AIM Weingarten Fund, AIM's most recognized large-cap growth fund. Monika H. Degan will remain as a portfolio manager on AIM Weingarten Fund to complete the new management team. Joining Mr. Sloan on AIM Charter Fund's management team will be Michael Yellen. Mr. Sloan brings more than 30 years of investment experience into his new position with AIM Charter Fund, AIM's most recognized large-cap core/blend portfolio. "Jon came to us and expressed his desire to manage a new multi-cap growth fund that will focus on the mid-cap Mid-cap Short for "Middle Cap," mid cap refers to stocks with a market capitalization of between $2 billion to $10 billion. Notes: As the name implies, a mid-cap is in the middle of the pack. A mid-cap isn't too big, but at the same time has a relatively decent market cap. segment of the equity market," said Gary T. Crum, chief executive officer and director of investments for AIM Capital Management. "We have assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. AIM Charter Fund and AIM Weingarten Fund - two of our flagship funds -- to two of our most senior portfolio management teams. With their experience in their respective areas of expertise, we are confident Lanny and Ron will serve fund shareholders well in their new roles." AIM was founded in 1976 and ranks among the nation's 10 largest mutual fund companies, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. independent mutual fund monitor Strategic Insight, with approximately $141 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 9.5 million shareholders as of Sept. 30, 2001. AMVESCAP PLC had $361 billion in assets under management as of Sept. 30, 2001. Note to editors -- We are required to include the following information with our news release: For more complete information about any AIM Fund, including sales charges Sales Charge A commission or fee paid by an investor at the time of purchasing mutual fund shares. The charge is paid to a mutual fund salesperson or financial advisor and is intended to provide compensation for the financial salesperson's efforts in assisting their client select and expenses, please obtain the appropriate prospectus(es) from your financial consultant or by calling 800/347-4246. Please read the prospectus carefully before you invest or send money. For more information about AIM, visit our Web site: http://www.aimfunds.com. A I M Distributors, Inc., Distributor. |
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