AIM Opens AIM Large Cap Basic Value Fund to All Investors.Business Editors HOUSTON--(BUSINESS WIRE)--July 31, 2000 A I M Advisors Inc. (AIM), a subsidiary of A I M Management Group Inc., announced today the opening of AIM Large Cap Basic Value Fund to all investors effective August 1, 2000. 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. AIM Large Cap Basic Value Fund, in limited distribution since June 30, 1999, is positioned as AIM's most conservative equity fund, offering cautious investors large-cap investing while utilizing a classic value investment discipline. The fund's primary objective is long-term capital appreciation with a secondary objective of current income. The fund invests mainly in companies 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. with a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. within the range of stocks in the Russell 1000 Value Index at the time of purchase. Under normal conditions, the top 10 holdings of the fund may comprise at least one-third of the portfolio's net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. , and the fund also may invest up to 25 percent of its total assets in foreign securities. Portfolio managers for the fund are Bret Stanley and Matt Seinsheimer, who follow the classic value discipline by purchasing securities of companies that they believe have the potential for above-average growth in revenues and earnings and that they believe are undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. in relation to long-term earning power Earning power Earnings before interest and taxes (EBIT) divided by total assets. earning power 1. The earnings that an asset could produce under optimal conditions. For example, AT&T may currently be earning $2. or other factors. The managers consider whether to sell a particular security when they believe the security no longer has that potential. AIM was founded in 1976 and ranks as the nation's eighth-largest mutual fund complex, according to independent mutual fund monitor Strategic Insight, with approximately $176 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 7.4 million shareholders as of March 31, 2000. AMVESCAP PLC had $391 billion in assets under management as of March 31, 2000. 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 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. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion