AIM Will Launch Value and Biotech Funds

AIM Management plans to open a mid-cap value fund and a global biotechnology fund, according to filings with the Securities and Exchange Commission. AIM, which is owned by Amvescap Plc, has about 90 funds and $171 billion in assets under management.

Abel Garcia and Michael Yellen will manage the Global Biotech fund, while Matthew Seinsheimer and Bret Stanley will have responsibility for the Mid Cap Basic Value fund. Seinsheimer and Stanley already manage the stock side of AIM’s Basic Balanced fund, launched Oct. 1.

According to published reports, an AIM spokesman declined to say when the new funds would be launched.

 

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