INVESCO FUNDS GROUP HIRES NEW FIXED INCOME MANAGER
Denver, CO - September 17, 2001 - INVESCO Funds Group has hired Robert J.
Hickey to manage the INVESCO High Yield Fund and co-manage the INVESCO Select
Income Fund. "Bob has more than 13 years of experience across the spectrum
of fixed income, with particular expertise in the high yield universe. We
believe that with his knowledge of fixed income securities, he will be a key
asset to our talented fixed income team," said Charles Mayer, Director of
Value and Fixed Income Investments.
Mr. Hickey brings extensive knowledge of corporate, high yield, and emerging
market securities, as well as derivatives and hedging instruments throughout
the entire credit spectrum. He also has experience with the management and
regulatory aspects of the insurance industry. As portfolio manager of the
Funds, he will manage more than one billion dollars in assets for INVESCO
Funds Group. He replaces Jerry Paul who will assume a consultative role
through a transition period.
In addition to these changes, Richard Hinderlie, who joined INVESCO Funds
Group in 1993, will join Hickey as co-manager of INVESCO Select Income Fund
and replace Paul as co-manager of INVESCO Balanced Fund effective today.
These will be additional responsibilities to his current role as manager of
the money market funds and the U.S. Government Securities Fund.
Prior to joining INVESCO, Mr. Hickey was the Director of Corporate Bonds for
Van Kampen Investments. While with Van Kampen, he was also senior portfolio
manager for the Van Kampen High Yield Bond Fund, Van Kampen High Income
Trust, Van Kampen High Income Trust II, Van Kampen Income Trust and Van
Kampen High Income Corporate Bond funds. Other responsibilities with Van
Kampen included the management of a $4 billion SPDA annuity company for OakRe
Life/Xerox Financial Services Life Insurance. Mr. Hickey received his B.A.
from the University of Wisconsin and his M.B.A. from the Kellogg Graduate
School of Management at Northwestern University.
Denver-based INVESCO Funds Group, a subsidiary of AMVESCAP PLC, has over $41
billion in assets under management (as of 6/30/01), and is one of the premier
mutual fund management companies in the United States. It provides a wide and
innovative range of investment products and services to individuals and
institutions. AMVESCAP has over $370 billion in assets under management (as
of 6/30/01) and is one of the world's largest individual investment managers,
operating under the AIM and INVESCO brand names. The Company is listed on the
London, New York, Paris, Toronto and Frankfurt Stock Exchanges with the
symbol "AVZ."
Editors Note: We are required to include the following information with our
news release. For more information on INVESCO Funds, please call
1-800-255-6927 for a prospectus containing more complete information
including management fees and expenses. Please read it carefully before you
invest or send money. INVESCO Distributors Inc., Distributor.
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