After announcing earlier this month that it will merge two of its funds, AIM Advisors of Houston, Tex. today said it will also merge its Latin American Growth and its Global Consumer Products & Services funds with two other funds. Both funds closed effective today.
Pending shareholder approval, the Latin American Growth Fund will merge into the AIM Developing Markets Funds and the AIM Global Consumer Products & Services Fund into the AIM Global Trends Fund. The reorganizations should be completed by September.
The Latin American Growth Fund holds $33 million in assets under management and has posted a negative 5.03% year-to-date return, according to Morningstar data. The Global Consumer Products & Services has $67 million in assets under management and has returned a negative 14.82% year-to-date return.
No reason was cited for the mergers and a company representative could not be reached by deadline.
On Aug 7, AIM announced it was merging its Tax Exempt Bond Fund of Connecticut and its Advisor Flex Fund with its Municipal Bond and Advisor Flex Fund, respectively.