AIM Shareholders Approve Changes to Fund.Business Editors
HOUSTON--(BUSINESS WIRE)--Sept. 4, 2001
A I M Advisors, Inc., the investment advisory subsidiary of A I M Management Group Inc. (AIM), announced today that shareholders of AIM Global Resources Fund have approved the proposed changes in the Fund's investment strategy as outlined in the proxy See proxy server.
(networking) proxy - A process that accepts requests for some service and passes them on to the real server. A proxy may run on dedicated hardware or may be purely software. . A result of the changes is the renaming of the fund to AIM Global Energy Fund. 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.
In addition to the name change, AIM Global Energy Fund is shifting its focus to energy investing. The energy sector is comprised of companies that develop, produce, provide, operate, own or distribute products or services related to energy. The changes permit the fund to take full advantage of the spectrum of companies that may benefit from potential growth in the energy sector, including companies that may benefit from developing new sources of energy and making more efficient use of existing resources.
AIM was founded in 1976 and ranks as the nation's seventh-largest mutual fund complex, according to according to
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 $171 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 June June: see month. 30, 2001. AMVESCAP PLC had $408 billion in assets under management as of June 30, 2001.
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