AIM Select Real Estate Income Fund Board of Trustees Approves Open-Market Share Purchases
October 27 2005 - 4:05PM
Business Wire
The Board of Trustees for AIM Select Real Estate Income Fund
(NYSE:RRE), AIM's closed-end real estate fund, announced today it
has approved the ability to engage in open-market purchases of its
common shares. The purpose of engaging in open-market share
purchases is to provide the fund's portfolio managers with an
additional means to enhance shareholder returns. "We are pleased to
now be permitted by the Board to buy RRE shares on the open
market," said Joe Rodriguez, portfolio manager for AIM Select Real
Estate Income Fund. "We believe it is appropriate to consider
purchasing shares when they are, in our opinion, undervalued in the
market." Although the fund's management team is permitted to
purchase the fund's common shares on the open market, it is not
under any obligation to do so. The amount and timing of any
open-market purchases will be in sole discretion of the fund's
management team, taking into account various factors including,
market conditions, cash on hand, and the availability of other
attractive investments. Open-market purchases may be financed by
cash, fund borrowings or liquidation of fund holdings. Any
open-market purchases will be made on the New York Stock Exchange
at the prevailing market price, subject to volume, timing and other
limitations under Federal securities laws. About AIM Investments
Houston-based AIM Investments represents one of the nation's
leading investment management companies. It is dedicated to
building solutions for its clients with exceptional products and
services through multiple investment management styles and a broad
range of investment portfolios - mutual funds, retirement products,
separately managed accounts for high-net-worth and institutional
investors, annuities, cash management, college savings plans, and
offshore products. Founded in 1976, AIM Investments had $129
billion in assets under management as of Sept. 30, 2005. For more
information, visit www.aiminvestments.com. AIM Investments is a
service mark of A I M Management Group Inc. A I M Advisors, Inc., A
I M Capital Management, Inc., and AIM Private Asset Management,
Inc. are the investment advisors for the products and services
represented by AIM Investments. A I M Distributors, Inc. is the
distributor for the retail mutual funds and Fund Management Company
is the distributor for the institutional money market funds
represented by AIM Investments. About INVESCO Institutional INVESCO
Institutional (N.A.), Inc. is the principal adviser in the North
American institutional division of AMVESCAP PLC. It is registered
as an investment adviser with the SEC and is the subadviser to AIM
Select Real Estate Income Fund. Dallas-based INVESCO Real Estate,
the real estate division of INVESCO Institutional, commenced
operations in 1983. For more information, visit
www.invescorealestate.com. About AMVESCAP A I M Management Group
Inc. is a subsidiary of AMVESCAP PLC, a leading independent global
investment manager, dedicated to helping people worldwide build
their financial security. Operating under the AIM, INVESCO and
Atlantic Trust brands, AMVESCAP strives to deliver outstanding
products and services through a comprehensive array of retail and
institutional products for clients around the world. The Company,
which had approximately $381 billion in assets under management as
of Sept. 30, 2005, is listed on the London, New York and Toronto
stock exchanges with the symbol "AVZ." Additional information is
available at www.amvescap.com.
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