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HOUSTON-Invesco Aim Advisors Inc. has reopened its $1.15-billion AIM Real Estate Fund. The fund will be open to all investors at the start of business July 21.

The fund, led by lead fund manager Joe Rodriguez Jr., went into limited offering in April 2005. A spokesman with Invesco Aim Advisors says the fund didn’t have a set capacity or closing period. “The portfolio managers felt the fund’s assets had reached a maximum size at which they were comfortable managing, given the available resources at the time,” the spokesman says.

But, the times have changed. The fund’s manager has increased capacity and reopened the fund due to investors shifting from US-focused mandates to global across retail and institutional platforms, according to an Invesco press release. The global mandate was added in 2005, but the fund didn’t alter its course until now.

The fund currently has 82 holdings and a $3.31-billion median market capitalization. No information is available about immediate acquisitions or dispositions.

The spokesman says the AIM Real Estate Fund will nominally invest at least 80% of its assets into real estate securities and real estate-related companies like REITs. The portfolio contains brand-name firms like Simon Property Group Inc., SL Green Realty Corp., HCP Inc., Equity Residential and ProLogis. The fund’s focus involves property types that provide long-term benefits.

The principal security that the fund will purchase is domestic common stock, but the spokesman says the fund could also acquire debt and foreign securities. No closing date for the fund was given.

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