AIM European Growth AAEDAX

Morningstar Rating

Fund Research and Analysis

by Karin Anderson

In its narrow category, AIM European Growth is a contender.

European firms make up a small segment of the global pie, and investors may have sufficient exposure to such names through more regionally diversified international funds. Still, those looking for exposure to European firms have a good option here. Read more

Kudos

Strong record.

Spreads assets across market-cap spectrum.

Unlike many of its timid peers, the fund is not an index-hugger.

Experienced management. Read more

Risks

The fund's expenses have come down, but they're still high in absolute terms. Read more

Strategy

Clas Olsson and Jason Holzer rely on three central tenets--earnings, quality, and valuation. They look for companies benefiting from sustainable growth trends and high-caliber management teams. Although the fund is an all-cap offering, its median market capitalization is a fraction of the category norm, reflecting the managers' affection for smaller firms. Read more

Management

Clas Olsson helped launch the fund in late 1997. Jason Holzer joined him as comanager in April 1999. The team also takes on the European portion of AIM Global Growth AGGAX, AIM Global Aggressive Growth AGAAX, and AIM International Growth AIIEX. The team's small-cap picks make their way into AIM European Small Company ESMAX and AIM International Small Company IEGAX. Read more

Inside Scoop

After feeling the burn of momentum investing in 2000 and 2001, the team here tweaked its approach to place more emphasis on valuation and management with excellent capital-allocation skills rather than earnings momentum. Read more

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