AIM Management Group announced Friday it will reopen its popular Aggressive Growth Fund to new investors on Nov. 16.
The fund, which has $2.7 billion of assets under management, invests in small-capitalization stocks with above-average earnings growth - stocks the company said are attractively priced and plentiful.
Aggressive Growth, which was closed to new investors in June 1997, is being reopened to attract more cash to buy those stocks.
It might not remain open long. When the fund reopened in 1995, it raked in an eye-popping $1 billion in two days and was quickly shut to new investors. Two years later, it took in $700 million in two days, and the window was closed once more.
But the small-cap sector has been more tumultuous in recent months: The fund has lost 15.5% over the last year.