A U.S. Attorney is looking into the Amvescap mutual fund wing AIM Investments for its fund dealings, but not because the company is a target of an investigation, the company admitted, The Associated Press reports.
The U.S. Attorney for the Southern District of New York's inquiry involves certain AIM funds or individuals, the company's SEC filing said, but the exact nature was not disclosed.
"It is merely a request for information on a third party," said AIM spokesman Ivy McLemore. That third party is not a fund company, McLemore continued, and is not affiliated with AIM.
It marks the second Amvescap company in the last two months to receive an inquiry from a U.S. Attorney. Last month, Invesco got a similar letter from the U.S. Attorney in Manhattan, but Invesco too said it was not under any kind of investigation. However, Invesco has seen complaints filed against it in both Colorado and New York for alleged market timing.