AIM Management Group plans to merge three former GT Global mutual funds into existing AIM funds.
AIM's directors and trustees have approved the reorganization of AIM International Growth Fund into AIM International Equity Fund; AIM Worldwide Growth Fund into AIM Global Growth Fund; and AIM Emerging Markets Fund into AIM Developing Markets Fund.
International Growth, Worldwide Growth, and Emerging Markets are all former GT Global funds that recently became part of the AIM fund family.
The paired funds have similar investment objectives, and their mergers will allow them to operate more efficiently, a spokesman said. The mergers are expected to become official in February, assuming shareholders of the former GT Global funds assent.
AIM is based in Houston. Its parent, Amvescap PLC in London, bought the asset management division of Liechtenstein Global Trust, including its GT Global component, in May.
The AIM family now comprises 21 former GT funds and 32 pre-existing AIM funds.