AIM Core Stock fund-where is it?

Hi,

My wife has an IRA from retirement funds (15 yrs ago when she left a
company ) invested in a fund called AIM Core Stock Fund-now apparently
something else. Originally, it was called Invesco Industrial Income Fund
and well rated. Over the years it as had a few name changes and performance
has gone down the tube. Any idea what is behind the latest change? I
assume the performance is so poor that the company has to "reinvent" the
fund so it can get away without showing its poor performance.
Steve

Re: AIM Core Stock fund-where is it?

Robert Ricks wrote:
>
> Hi,
>
> My wife has an IRA from retirement funds (15 yrs ago when she left a
> company ) invested in a fund called AIM Core Stock Fund-now apparently
> something else. Originally, it was called Invesco Industrial Income
> Fund and well rated. Over the years it as had a few name changes and
> performance has gone down the tube.

Quite a series of name changes and business reorganizations. The only
one up until now that seems to have had an objective change was in 2002,
when the name was changed to Invesco Core Equity, and instead of being
required to invest in dividend paying stocks, 50% of its stocks were
allowed to be non-dividend paying - a push towards growth and away from
dividends and bonds (income).

> Any idea what is behind the latest change? I assume the performance
> is so poor that the company has to "reinvent" the
> fund so it can get away without showing its poor performance.

A fair guess. Here's the SEC filing on it being merged away, into AIM
Diversified Dividend Fund:


It claims that the fund objectives are similar (though it is returning
to investing in dividend paying stocks). Other Invesco funds were
merged away in 2003 (with the renamings to AIM funds); this fund just
survived longer than others. Here's Morningstar's article on that mass
merger:


Note that all of this is inference from reading the SEC filings, which
you can find by going to:


Do a search on "Invesco". Then, when looking at the individual fund
companies, in the upper right is a "Form Type" box. Clear it, and press
the button, to get all the filings pertaining to that fund company.

--
Mark Freeland

Re: AIM Core Stock fund-where is it?

What is behind the change is a strategy designed to milk as much of the
fund as possible for management's benefit. They make one way illegal,
the lawyers just find another way. Suggest you switch to Vanguard or
Fidelity or USAA. They are the only HONEST ones I know of.