AIM Advisors of Houston, Texas announced that shareholders of its AIM Global Trends Fund have approved proposed changes to the fund, including eliminating its fund of funds designation.
The fund's shareholders approved the changes at a meeting Aug. 25. Before the vote was taken, the fund invested in each of six AIM Global Theme Funds in industry sector proportions reflecting those in the MSCI All-Country World Index.
Under the restructuring, the fund will redeem its investments in the Theme Funds. Instead, it will invest directly in equity securities of U.S. and foreign issuers in the various global industry sectors in which the Theme Funds had been invested, the company said. AIM will actively manage the fund's assets so that the fund will no longer be tied to the MSCI All-Country World Index.