AIM Investments(R) Announces Management Team Changes to Six Funds.HOUSTON Houston, city (1990 pop. 1,630,553), seat of Harris co., SE Tex., a deepwater port on the Houston Ship Channel; inc. 1837. Economy The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; -- AIM Investments announced today changes to the portfolio management teams of AIM Advantage Health Sciences Fund, AIM Aggressive Growth Fund, AIM Constellation Constellation, ship Constellation (kŏnstĭlā`shən), U.S. frigate, launched in 1797. It was named by President Washington for the constellation of 15 stars in the U.S. flag of that time. Fund, AIM Global Health Care Fund, AIM Small Company Growth Fund, and AIM Summit Fund. Effective Sept. 16, 2005, the management teams of the respective funds became as follows:
Previous
Fund Management Team New Management Team
---------------------- ---------------------- -----------------------
AIM Advantage Health Michael Yellen (lead), Michael Yellen (lead),
Sciences Fund Kirk L. Anderson, Sunaina Murthy,
Sunaina Murthy, Derek Derek M. Taner
M. Taner, Bryan A.
Unterhalter
---------------------- ---------------------- -----------------------
AIM Aggressive Growth Jay K. Rushin (lead) Lanny H. Sachnowitz
Fund Assisted by (lead), Kirk L.
Aggressive Growth Anderson, James G.
Team Birdsall
Assisted by
Large/Multi-Cap Growth
Team
---------------------- ---------------------- -----------------------
AIM Constellation Fund Kenneth A. Zschappel Lanny H. Sachnowitz
(lead), Christian A. (lead), Kirk L.
Costanzo, Robert J. Anderson, James G.
Lloyd, Bryan A. Birdsall, Robert J.
Unterhalter Lloyd
Assisted by Multi-Cap Assisted by
Growth Team Large/Multi-Cap Growth
Team
---------------------- ---------------------- -----------------------
AIM Global Health Care Michael Yellen (lead), Michael Yellen (lead),
Fund Kirk L. Anderson, Sunaina Murthy,
Sunaina Murthy, Derek Derek M. Taner
M. Taner, Bryan A.
Unterhalter
---------------------- ---------------------- -----------------------
AIM Small Company Jay K. Rushin (lead) Juliet S. Ellis (lead),
Growth Fund Assisted by Aggressive Juan R. Hartsfield
Growth Team Assisted by Small Cap
Core/Growth Team
---------------------- ---------------------- -----------------------
AIM Summit Fund Robert J. Lloyd (lead- Robert J. Lloyd (lead-
growth), Bret W. growth), Bret W.
Stanley (lead-value), Stanley (lead-value)
Kenneth A. Zschappel Assisted by Basic Value
Assisted by Basic Team and Large/Multi-
Value Team and Multi- Cap Growth Team
Cap Growth Team
---------------------- ---------------------- -----------------------
More information about these teams is available on
www.AIMinvestments.com.
These changes are part of AIM's ongoing efforts to organize its highly skilled growth teams around common processes and shared beliefs. Lanny H. Sachnowitz, who has 18 years of investment experience and serves as the leader 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 Investment Management Unit, takes over as lead manager of AIM Aggressive Growth Fund and AIM Constellation Fund. Mr. Sachnowitz also is lead manager of AIM Weingarten Weingarten (German for vine garden, vinyard) is the name of several places:
The new management teams for AIM Aggressive Growth Fund and AIM Constellation Fund will be supported by AIM's Large/Multi-Cap Growth Team, which combines previously separate units into one cohesive cohesive, n the capability to cohere or stick together to form a mass. group of portfolio managers and analysts, including listed portfolio managers Kirk L. Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic , James James, person in the Bible James, in the Gospel of St. Luke, kinsman of St. Jude. The original does not specify the relationship. James, rivers, United States James. G. Birdsall, and Robert J. Lloyd. Both Mr. Anderson Mr. Anderson can refer to several fictional characters:
Juliet S Juliet, in astronomy, one of the natural satellites, or moons, of Uranus. Juliet stabs herself on seeing Romeo dead. [Br. Lit.: Shakespeare Romeo and Juliet] See : Suicide . Ellis ELLIS - EuLisp LInda System. An object-oriented Linda system written for EuLisp. "Using Object-Oriented Mechanisms to Describe Linda", P. Broadbery <pab@maths.bath.ac.uk> et al, in Linda-Like Systems and Their Implementation, G. Wilson ed, U Edinburgh TR 91-13, 1991. , who came to AIM in 2004 after a distinguished career with JPMorgan Fleming Flem·ing , Sir Alexander 1881-1955. British bacteriologist who discovered penicillin in 1928. He shared a 1945 Nobel Prize for this achievement. Asset Management, becomes lead manager of AIM Small Company Growth Fund. She has been involved in investment management since joining JPMorgan in 1987. Ms. Ellis will be assisted by portfolio manager Juan R. Hartsfield, who joined AIM from JPMorgan in 2004, and AIM's small-cap Small-cap A stock with a small capitalization, meaning a total equity value of less than $500 million. small-cap 1. Of or relating to the common stock of a relatively small firm having little equity and few shares of common stock core/growth team. Changes to the management teams will not impact the investment objectives of any of the funds listed. Important Information about AIM Advantage Health Sciences Fund On October 15, 2004, INVESCO Advantage Health Sciences Fund was renamed AIM Advantage Health Sciences Fund. A I M Advisors, Inc. is the 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 for the fund. Prior to November 25, 2003, INVESCO Funds Group, Inc. served as the investment advisor for the fund. This fund may use enhanced investment techniques, such as short-selling, leverage and derivatives derivatives In finance, contracts whose value is derived from another asset, which can include stocks, bonds, currencies, interest rates, commodities, and related indexes. Purchasers of derivatives are essentially wagering on the future performance of that asset. , which entail entail, in law, restriction of inheritance to a limited class of descendants for at least several generations. The object of entail is to preserve large estates in land from the disintegration that is caused by equal inheritance by all the heirs and by the ordinary special risks. The fund can invest up to 100% of its assets in foreign securities that presents risks not associated with investing solely in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The fund seeks to participate in the initial public offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) market, and a significant portion of the fund's returns may be attributable to IPO investments. While IPOs may significantly enhance fund returns, there is no guarantee that the market for these securities will continue to be robust. Also, this type of security may have limited liquidity. Prior to converting INVESCO Advantage Global Health Sciences Class A into an open-end fund Open-End Fund A mutual fund that continues to sell shares to investors, and will buy back shares when investors wish to sell. Notes: Open-end funds have no limit to the number of shares they can issue. The majority of mutual funds are open end. , the actual performance of the closed-end fund Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. is used. Investing in a single-sector mutual fund involves greater risk and potential reward than investing in a more diversified fund Diversified Fund A type of investment fund that contains a wide array of securities and is adequately diversified. A mutual fund classified as a "diversified fund" will actively maintain a high level of diversification in its holdings, thus reducing the amount of risk in the fund, . The fund is nondiversified, which increases risks as well as potential rewards. Portfolio turnover is greater than most funds, which may affect performance. Investing in mid-sized companies involves greater risk not associated with investing in more established companies. International investing presents certain risks not associated with investing solely in the United States. These include, for instance, risks related to fluctuations in the value of the U.S. dollar relative to the value of other currencies, custody arrangements made for the fund's foreign holdings, political risks, differences in accounting procedures, and the lesser degree of public information required to be provided by non-U.S. companies. By concentrating on a small number of holdings, the fund carries greater risk because each investment has a greater effect on the fund's overall performance. Important Information about AIM Aggressive Growth Fund Investing in small- and mid-sized companies involves greater risks not associated with investing in more established companies, such as business risk, significant stock price fluctuations and illiquidity. The fund can invest up to 25% of its assets in foreign securities that involve risks not associated with investing solely in the United States. Important Information about AIM Constellation Fund Investing in small- and mid-sized companies involves greater risks not associated with investing in more established companies, such as business risk, significant stock price fluctuations and illiquidity. The fund can invest up to 20% of its assets in foreign securities that involve risks not associated with investing solely in the United States. Important Information about AIM Global Health Care Fund International investing presents certain risks not associated with investing solely in the United States. These include, for instance, risks related to fluctuations in the value of the U.S. dollar relative to the value of other currencies, custody arrangements made for the fund's foreign holdings, political risks, differences in accounting procedures, and the lesser degree of public information required to be provided by non-U.S. companies. Investing in a single-sector mutual fund involves greater risk and potential reward than investing in a more diversified fund. By concentrating on a small number of holdings, the fund carries greater risk because each investment has a greater effect on the fund's overall performance. Investing in emerging markets involves greater risk and potential reward than investing in more established markets. Important Information about AIM Small Company Growth Fund Investing in micro and small companies involves greater risks not associated with investing in more established companies, such as business risk, significant stock price fluctuations and illiquidity. Also, portfolio turnover is greater than in most funds, which may affect performance. At any given time, the fund may be subject to sector risk, which means a certain sector may underperform Underperform An analyst recommendation that means a stock is expected to do slightly worse than the market return. Also known as market underperform, moderate sell, or weak hold. other sectors or the market as a whole. The fund is not limited with respect to the sectors in which it can invest. The fund also may invest up to 25% of its assets in securities of non-U.S. issuers that involve risks not associated with investing solely in the United States. Securities of Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. issuers and American Depository Receipts American Depository Receipt n. called in the banking trade an ADR, it is a receipt issued by American banks to Americans as a substitute for actual ownership of shares of foreign stocks. are not subject to this 25% limitation. About AIM Investments Houston-based AIM Investments represents one of the nation's leading investment management companies. It is dedicated to building solutions for its clients with exceptional products and services through multiple investment management styles and a broad range of investment portfolios -- mutual funds, retirement products, separately managed accounts for high-net-worth and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. , annuities, cash management, college savings plans, and offshore products. Founded in 1976, AIM Investments had $129 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. as of June 30, 2005. For more information, visit www.aiminvestments.com. AIM Investments is a service mark of A I M Management Group Inc. A I M Advisors, Inc., A I M Capital Management, Inc., and AIM Private Asset Management, Inc., are the investment advisors for the products and services represented by AIM Investments. A I M Distributors, Inc. is the distributor for the retail mutual funds and Fund Management Company is the distributor for the institutional money market funds represented by AIM Investments. About AMVESCAP A I M Management Group Inc. is a subsidiary of AMVESCAP PLC, a leading independent global investment manager, dedicated to helping people worldwide build their financial security. Operating under the AIM, INVESCO and Atlantic Trust brands, AMVESCAP strives to deliver outstanding products and services through a comprehensive array of retail and institutional products for clients around the world. The Company, which had approximately $373 billion in assets under management as of June 30, 2005, is listed on the London, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Toronto stock exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. with the symbol "AVZ." Additional information is available at www.amvescap.com. Note to editors -- We are required to include the following information with our news release: Consider the investment objectives, risks, and charges and expenses carefully before investing. For this and other important information about any AIM fund, please obtain a prospectus from your financial advisor and read it carefully before investing. A I M Distributors, Inc. |
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