AIM Capital Management of Houston, Texas will become the sub-adviser to the $170 million INVESCO Tax-Free Bond Fund, pending shareholder approval. The arrangement will go into effect on May 11 and will mark the first cross-adviser relationship between the two U.S. mutual fund groups which are held as separate fund units under a common holding-company, AMVESCAP PLC of London.

AMVESCAP was created by the merger of AIM Capital and INVESCO Funds Group of Denver, Colo. in February.

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