AIM Management Group of Houston, Texas is the latest broker-sold mutual fund company to allow retail shareholders to buy and exchange fund shares through its web site.
The announcement last week continues a trend of fund companies allowing shareholders the opportunity to buy additional shares of their funds using the Internet rather than calling their broker. AIM shareholders will be able to redeem shares or exchange them for shares of any of AIM's 55 other funds as well as buy additional shares of funds they already own at the site.
MFS of Boston, another load fund company, is planning to allow shareholders to buy additional shares of its funds through its web site by December.
