Oct. 30, 2002 — Two AIM bond funds that carry sales charges will close to new investors today and no-load versions of both will debut tomorrow.
AIM is closing the class A shares of AIM Limited Maturity Treasury Fund/A (SHTIX) and AIM Tax Free Intermediate Shares (AITFX) and introducing no-load class A3 shares for the funds.
The company is bringing out the load-free shares in an effort to make it easier to buy the funds, which investors tend to use essentially like money-market funds, an AIM spokesman said.
Class A shares of the funds both carry 1% sales charges. The Tax Free Intermediate fund’s class A shares also carry a 1% redemption fee on shares held less than one year.