AIM Summit PSMMIX

Morningstar Rating

Fund Research and Analysis

by Ryan Leggio

Performance nuances and recent portfolio moves overshadow AIM Summit's high-quality portfolio.

This fund boasts the highest-quality domestic equity portfolio in AIM's lineup--a distinction it has held for some time. By high quality, we mean that Morningstar's equity analysts think many of the companies in the fund (like Johnson & Johnson JNJ) have durable competitive advantages (what we and some others call "economic moats"). Read more

Kudos

Adjustments to the fund's strategy and management made in late 2005 have improved performance.

Management's moderate position sizes and portfolio of roughly 100 stocks diffuse some of the risk of its occasionally heavy sector weightings.

Below-average expenses. Read more

Risks

Management's style can lead to significant sector bets.

More concentrated recently. Read more

Strategy

Rob Lloyd has employed a single growth strategy on this fund since stepping into the lead manager role in January 2006. The fund has taken many steps away from its former momentum-leaning style since March 2002. Read more

Management

Robert Lloyd has been on board since July 2001 and has been the fund's lead manager since January 2006. A former analyst on the fund, Ryan Amerman, was named a comanager in February 2008. The duo also runs AIM Constellation and is supported by a team of seven analysts. Read more

Inside Scoop

This fund has emerged as one of AIM's better growth offerings under manager Robert Lloyd. Lloyd tends to look further afield for profitable growers than some of his rivals but prefers well positioned and growing large-cap companies. Read more

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