In late 1993, eight securities companies that were licensed to operate mutual fund management business, and seven Securities and Finance Companies jointly formed the “Association of Investment Management Companies” (AIMC). AIMC was registered and granted a license by the Office of the Securities and Exchange Commission on May 10, 1994, as an association in relation to investment management business. AIMC is a non-profit organization funded by its members which are securities companies licensed to operate investment management business and/or to sell/distribute units of mutual funds.
Currently, AIMC members are characterized by their operating businesses and are divided into three groups: (1) Mutual Fund Business, (2) Provident Fund and Private Fund Business, and (3) Property Fund, Real Estate Investment Trust, and Infrastructure Funds/Trust Business. Each of the business groups will have its committee administering and supervising the members to ensure that the objectives of the group are served and that their business conducts are ethical.