From now on, AIM will identify the lead- and co-managers of each of its funds in reports to shareholders. In the past, the company listed the names of the managers, without stating who was in charge.
The Houston-based firm also will offer more information on its Web site ( www.aimfunds.com ) about its management teams, including names and bios of the analysts who assist the portfolio managers. The move comes amid appeals for more disclosure, AIM said.
Shining a light on a lead manager can help a fund attract more money when times are good and satisfy investors’ desire to know who is calling the shots. However, it also can backfire and open up a fund to bad publicity if the stock picker leaves for greener pastures or is fired for poor performance.
Some fund families have recently opted for less disclosure in regulatory filings as a means of avoiding a formal communication when making portfolio changes. Such announcements are frequently viewed negatively, at least initially, by investors.