Aim Investments launched its target-date funds, Aim Independence Funds, earlier this year and are seeking ways to better diversify and lower volatility by including exchange traded funds (ETFs). Christine Ong of Ignites.com reports each fund will have 7 ETFs from PowerShares. The funds domestic equity portion is built around a core of PowerShares FTSE RAFI ETFs with Aim funds as part of the satellite holdings. Each of the six funds offer no fewer than 10 asset classes, and up to 16, with 15-21 underlying products.
AMVESCAP is the parent company of both Aim Investments and PowerShares…just in case you were wonderig. But with more and more mutual funds using ETFs behind the scenes, its somewhat comforting to see a fund company be a little more transparent.
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