Sept. 17, 2002 -- AIM Funds said it will re-open the AIM Opportunities I Fund (ASCOX), AIM Opportunities II Fund (AMCOX) and AIM Opportunities III Fund (LCPAX) to all investors, effective at the open of business on October 1.
AIM Opportunities I Fund (formerly AIM Small Cap Opportunities Fund) has been closed to new investors since Nov. 4, 1999, while AIM Opportunities II Fund (formerly AIM Mid Cap Opportunities Fund) and AIM Opportunities III Fund (formerly AIM Large Cap Opportunities Fund) have been closed since March 21, 2000, and Sept. 29, 2000, respectively.
According to David Bachert, a spokesman for AIM Funds, "over the past couple of years, as market values have dropped, this has created a capacity to add additional assets to these three funds."
The minimum purchase for new investors in each fund will be $10,000, with subsequent investments $1,000.
Year to date through Sept. 16, the Opportunities I, Opportunities II and Opportunities III Funds have declined 24.2%, 22.7% and 23.9%, respectively.
The Opportunities I Fund, a $329-million portfolio, is ranked 5 Stars by Standard & Poor's. The Opportunities II Fund, with $201-million in net assets, is ranked 3 Stars, while Opportunities III Fund, with $207-million in assets, is not ranked.
All three portfolios are managed by a team led by Charles Scavone.