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In this publication, we are going to discuss AIM Mutual Funds. As we've done in the other publications in this series, we're going to first provide some information on the overall family of funds from AIM Investments. Next, we are going to discuss AIM's mutual fund fee structure. Finally, we'll finish up with a listing of the top three performing mutual funds from AIM.
AIM Family of Funds
Founded in 1976, AIM Investments has built its reputation as one of America's leading investment companies. AIM has done this through its commitment to planning and disciplined growth. Headquartered in Houston, Texas, AIM also has offices in Dallas and San Francisco. With roughly 1,500 employees, AIM manages approximately $117 billion in assets. The family of funds at AIM consists primarily of retail mutual funds and variable annuity funds. On March 31, 2008, AIM Investments was renamed Invesco AIM as part of the parent firm Investco's broader branding strategy. In 2010, the Invesco AIM name was again rebranded under the Invesco name.
AIM has divided its service offerings along five separate lines of business: Retail Marketing, Institution & Alliance Sales, Private Asset Management, Retirement and Education, and Cash Management. AIM offers individuals a full line of investor choices including 529 plans, Traditional and Roth IRAs, as well as mutual funds. Private asset management services are available to wealthier investors. The account minimum for this offering is $100,000 for each investment portfolio.
AIM Fee Structure and Returns
According to Morningstar, the AIM mutual fund average expense ratio varies little by class of asset including Average for its international stock funds (1.73%) and Average for its municipal bond funds (0.99%). As was the case with Janus Mutual Funds, most of the assets under management by AIM are invested in domestic stock mutual funds (55%).
The minimum investment necessary to open an account at AIM is just $1,000. Investors looking for short term returns need to be aware that only 22% of AIM mutual funds, expressed as a percentage of assets under management, are no-load mutual funds. As of May 2011, the average return on an AIM mutual fund over the last five years is 4.16%.
Top Rated AIM Mutual Funds
Several of the top rated AIM mutual funds are now closed to investors. We've included the name of one of those funds below, but the other funds remain open to new investors. That being said, the top rated AIM mutual funds over the past five years, as measured by total return include (April 2011):
- Invesco Energy (FSTEX) - with just over $2 billion in assets, this fund's focus is on the energy industry. The funds larger holdings include Schlumberger, Ltd., Halliburton Company, and National Oilwell Varco, Inc. The expense ratio for this fund is 1.16% and is currently posting a limited status for new investors. The average return over the past five years for this fund is 7.62%. (May 2011)
- Invesco US Small Cap Value (MPSCX) - with just over $866 million in assets, this mutual fund specializes in small cap blend stocks from the United States. Top three holdings include Belden, Inc., Jabil Circuit, Inc., and Wabco Holdings Incorporated. This no-load mutual fund requires a minimum investment of $1,000, and is currently posting a limited status for new investors. The expense ratio for this fund is 0.80%, and the average return over the last five years was 8.29%. (May 2011)
- Invesco Van Kampen Exchange (ACEHX) - this mutual fund specializes in large cap blend companies based in the United States. With $66.1 million in assets, the top three holdings include Air Products and Chemicals, Inc., Intel Corporation, and McCormick & Company, Inc. This no-load mutual fund is currently closed to new investors. The expense ratio is just 0.50%, and the average return for the fund over the last five years is 6.89%. (May 2011)
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