AIM Management Group of Houston, Texas has announced that it has formed AIM Private Asset Management, a new subsidiary that will market customized portfolios to high-net-worth and institutional clients.

"We started rolling the idea around on this in the fall of 1999," said Kamala Sachidanandan, vice president and director of the new subsidiary. "The demand for the portfolios came from retail wholesalers with relationships with financial advisors." Financial advisors wanted customized products through AIM that they could market to their high-net-worth clients, she said.

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