is finally moving forward with its plan to reorganize its funds. After rescheduling a shareholder meeting twice, the Houston-based firm said Thursday it has secured the nod of shareholders to merge six of its funds, with combined assets of at least $11.17 billion, into five other funds.
Amvescap, AIM's parent company, has been trimming its fund lineup following the merger of the Invesco fund family into the AIM brand.
A shareholder meeting took place on February 28, but AIM failed to garner the requisite number of votes and the meeting was reconvened on March 7. That meeting, in turn, was adjourned until March 16.
Now that AIM has received the greenlight from shareholders, the firm is shutting the six funds-- AIM Aggressive Growth Fund
, Blue Chip Fund
, Mid Cap Growth Fund
, Premier Equity Fund
, Small Company Growth Fund
and Weingarten Fund
-- to new investors at the close of business on March 17.
Half of the mergers are expected to be completed on March 27, while the rest are slated for completion on April 10.
Stay ahead of the news ... Sign up for our email alerts now