AIM Investments and Invesco Funds Group, both subsidiaries of Amvescap, are creating a single distribution platform for the two companies' retail products.
Starting in June, AIM Distributors will become the distributor for Invesco's 33 U.S. retail funds with $21 billion in assets under management. AIM has 61 retail funds with $124 billion in assets under management.
"Creating a unified distribution system will simplify our U.S. retail business by providing financial consultants and shareholders with additional investment choices through a single distribution source," Mark H. Williamson, president and chief executive of AIM Investments, said in a statement.
AIM wholesalers and salespeople have relationships with more than 200,000 financial consultants, according to the firm.
Copyright 2003 Thomson Media Inc. All Rights Reserved.
(http://www.mfmarketnews.com)
