Hedge Funds

Invesco and AIM to pay $450 million to settle allegations

by

In the latest evidence that regulators are not finished taking action in their investigation of illegal market-timing by hedge funds and other investors, Invesco Funds Group and affiliated AIM Advisors settled charges with state and federal authorities on September 7.

Under the agreement, Denver-based Invesco will fork over $325 million - $110 million of it in civil penalties, while AIM, located in Houston, Texas, will pay $50 million - including $30 million of civil penalties. The managers will also forgo $75 million of future income through fee reductions over the next five years. The companies, which did not admit