AIM Small Cap Opportunities Fund Closes to New Investors.HOUSTON--(BUSINESS WIRE)--Nov. 3, 1999-- AIM Advisors, Inc. (AIM), announced today that AIM Small Cap Opportunities Fund will close to new investors as of 3:00 p.m. CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. on November 4. AIM is a member of the $291 billion AMVESCAP Group (NYSE NYSE See: New York Stock Exchange :AVZ), one of the world's largest independent investment services companies. AIM Small Cap Opportunities Fund is managed by AIM's small- and mid-cap team of Charles Scavone, Ken Zschappel, Chris Perras, and Bob Kippes, as well as senior risk manager Brant brant or brant goose, common name for a species of wild sea goose. The American brant, Branta bernicla, breeds in the Arctic and winters along the Atlantic coast. Demuth. It invests primarily in small-cap companies that offer special opportunities based on technological advances, growth potential, management changes, and other market themes. In addition, the Fund applies an aggressive offensive and defensive strategy, holding long with earnings surprises and selling stocks short on earnings disappointments. The Fund has the ability to short up to 25% of 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. at any one time. These and other techniques give the Fund the potential 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>. both upward and downward movements of stock prices and the flexibility to utilize the full small-cap spectrum. The Fund was opened on July 13, 1998 to take advantage of a lagging small-caps market and targeted the more sophisticated investor, aware of the risks involved in a long/short fund. With the Fund set to close at $500 million, the fund's management team will be able to better take advantage of the small-cap market while controlling asset growth and investments. "Since the fund's inception, we have maintained the necessity of closing the fund once assets reached $500 million," Scavone said, "With the Fund closed, we will be able to manage the assets of the fund in a more controlled environment, reducing some of the risk inherent to a fund of this nature." AIM was founded in 1976 and ranks as the nation's 10th-largest mutual fund complex, 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 $120 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 6.4 million shareholders as of September 30, 1999. AMVESCAP PLC had $291 billion in assets under management as of September 30, 1999. 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 website: http://www.aimfunds.com A I M Distributors, Inc., Distributor. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion