AIM Energy InvFSTEX

Morningstar Rating

Fund Research and Analysis

by Michael Herbst

The burden of proof is on AIM Energy's new management, but we like what we've seen so far.

This fund's recent change in management appears to be going smoothly. Its veteran lead manager John Segner left the fund (and its advisor Invesco Aim) in January 2009. Read more

Kudos

The fund's strategy had been successful under its previous management.

Reasonable expenses. Read more

Risks

The fund's new managers are relatively new to the portfolio-management role.

Above-average volatility compared with other natural-resources funds.

As an energy-specific fund, it lacks the diversification of a broader natural-resources offering. Read more

Strategy

The fund will generally hold 30-50 stocks and spreads assets among energy subsectors based on management's outlook for oil and natural gas. Management uses a bottom-up approach to select stocks in each area, emphasizing strong balance sheets and improving business prospects. Read more

Management

This fund's veteran skipper, John Segner, stepped down in January 2009. His lieutenant Andrew Lees, a comanager since May 2008, is now in the driver's seat. Lees is assisted by comanager Tyler Dann II, who also works as a comanager on AIM Charter and contributes to the team backing its sibling AIM Mid Cap Core Equity. Read more

Inside Scoop

We've liked this fund in the past due largely to the experience and expertise of veteran skipper John Segner. Segner stepped down in January 2009, and his lieutenant Lees and comanager Tyler Dann II still have to prove their mettle. Read more

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