AIM Funds Management of Toronto became Canada's newest foreign-owned mutual fund giant on Aug. 1, with the completion of its takeover of Trimark Financial of Toronto. It hopes to make further market-share gains by offering one of the country's most diverse product lines, introducing new low-fee share classes and expanding its distribution channels.

"Size does matter," said Rob Hain, who continues as president and CEO of AIM, a wholly-owned subsidiary of AMVESCAP of London. The takeover vaults AIM to second place in the Canadian industry, up from 13th previously.

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