-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G4G8p0E9TyyMcpWD0+t3X6HoT/SaqNsf+sjB+3B4IOFm2obuTRwvuylnvft8lRJG /80y0vC2MpNB/N+Zc1l7Rw== 0000950129-07-001766.txt : 20070330 0000950129-07-001766.hdr.sgml : 20070330 20070330101141 ACCESSION NUMBER: 0000950129-07-001766 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070131 FILED AS OF DATE: 20070330 DATE AS OF CHANGE: 20070330 EFFECTIVENESS DATE: 20070330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AIM INTERNATIONAL MUTUAL FUNDS CENTRAL INDEX KEY: 0000880859 IRS NUMBER: 760352823 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06463 FILM NUMBER: 07729856 BUSINESS ADDRESS: STREET 1: 11 GREENWAY PLAZA STE 100 CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: 7136261919 MAIL ADDRESS: STREET 1: AIM INTERNATIONAL FUNDS INC STREET 2: 11 GREENWAY PLAZA SUITE 100 CITY: HOUSTON STATE: TX ZIP: 77046 FORMER COMPANY: FORMER CONFORMED NAME: AIM INTERNATIONAL FUNDS INC /MD/ DATE OF NAME CHANGE: 20000620 FORMER COMPANY: FORMER CONFORMED NAME: AIM INTERNATIONAL MUTUAL FUNDS DATE OF NAME CHANGE: 20000323 FORMER COMPANY: FORMER CONFORMED NAME: AIM INTERNATIONAL FUNDS INC DATE OF NAME CHANGE: 19920909 0000880859 S000000226 AIM Asia Pacific Growth Fund C000000537 Class A ASIAX C000000538 Class B ASIBX C000000539 Class C ASICX 0000880859 S000000227 AIM European Growth Fund C000000540 Class A AEDAX C000000541 Class B AEDBX C000000542 Class C AEDCX C000000543 Class R AEDRX C000000544 Investor Class EGINX 0000880859 S000000228 AIM Global Aggressive Growth Fund C000000545 Class A AGAAX C000000546 Class B AGABX C000000547 Class C AGACX 0000880859 S000000229 AIM Global Growth Fund C000000548 Class A AGGAX C000000549 Class B AGGBX C000000550 Class C AGGCX 0000880859 S000000230 AIM International Growth Fund C000000551 Class A AIIEX C000000552 Class B AIEBX C000000553 Class C AIECX C000000554 Class R AIERX C000023043 Institutional Class AIEVX 0000880859 S000000231 AIM International Core Equity Fund C000000555 Class A IBVAX C000000556 Class B IBVBX C000000557 Class C IBVCX C000000558 Class R IIBRX C000000559 Investor Class IIBCX C000023044 Institutional Class IBVIX N-Q 1 h45002nvq.txt FORM N-Q - QUARTERLY SCHEDULE -------------------------- OMB APPROVAL -------------------------- OMB Number: 3235-0578 Expires: May 31, 2007 Estimated average burden hours per response: 21.09 -------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-06463 AIM International Mutual Funds (Exact name of registrant as specified in charter) 11 Greenway Plaza, Suite 100 Houston, Texas 77046 (Address of principal executive offices) (Zip code) Philip A. Taylor 11 Greenway Plaza, Suite 100 Houston, Texas 77046 (Name and address of agent for service) Registrant's telephone number, including area code: (713) 626-1919 Date of fiscal year end: 10/31 Date of reporting period: 01/31/07 Item 1. Schedule of Investments. AIM ASIA PACIFIC GROWTH FUND Quarterly Schedule of Portfolio Holdings - January 31, 2007 AIMinvestments.com APG-QTR-1 1/07 A I M Advisors, Inc. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark--
AIM Asia Pacific Growth Fund SCHEDULE OF INVESTMENTS January 31, 2007 (Unaudited)
SHARES VALUE ---------- -------------- FOREIGN COMMON STOCKS & OTHER EQUITY INTERESTS-92.44% AUSTRALIA-15.86% Australia and New Zealand Banking Group Ltd. (Diversified Banks) (a) 228,500 $ 5,189,784 Babcock & Brown Ltd. (Other Diversified Financial Services) (a)(b) 234,300 4,754,002 BHP Billiton Ltd. (Diversified Metals & Mining) (a)(b) 336,900 6,895,739 Bradken Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) 801,425 5,448,084 Brambles Ltd. (Diversified Commercial & Professional Services) (b)(c) 843,000 9,086,872 Computershare Ltd. (Data Processing & Outsourced Services) (a) 793,000 5,671,304 CSL Ltd. (Biotechnology) (a) 144,100 7,803,707 MFS Ltd. (Other Diversified Financial Services) (b) 773,000 3,331,731 QBE Insurance Group Ltd. (Property & Casualty Insurance) (a) 293,000 7,040,335 Ramsay Health Care Ltd. (Health Care Facilities) (a)(b) 465,700 4,257,298 Toll Holdings Ltd. (Trucking) (a) 402,200 6,581,079 United Group Ltd. (Construction & Engineering) (a)(b) 443,000 4,555,687 Woolworths Ltd. (Food Retail) (a) 271,200 5,024,580 Zinifex Ltd. (Diversified Metals & Mining) (a) 334,800 4,305,958 -------------- 79,946,160 -------------- CHINA-12.04% Celestial NutriFoods Ltd. (Packaged Foods & Meats) (a)(c) 3,578,000 3,493,051 China Green (Holdings) Ltd. (Agricultural Products) (a) 7,062,000 4,071,912 China Mengniu Dairy Co. Ltd. (Packaged Foods & Meats) (a) 1,455,000 4,368,240 China Petroleum and Chemical Corp. (Sinopen)-Class H (Integrated Oil & Gas) (a) 5,472,000 4,579,837 FU JI Food & Catering Services (Restaurants) (a) 2,648,000 5,581,441 Longcheer Holdings Ltd. (Integrated Telecommunication Services) 3,018,000 2,181,403 Mingyuan Medicare Development Co. Ltd. (Technology Distributors) (a) 44,300,000 4,368,490 Minth Group Ltd. (Auto Parts & Equipment) (a) 3,676,000 2,946,065 Pine Agritech Ltd. (Agricultural Products) (a) 2,504,000 1,005,234
SHARES VALUE ---------- -------------- CHINA-(CONTINUED) Ping An Insurance (Group) Co. of China Ltd. -Class H (Life & Health Insurance) (a) 2,172,000 $ 10,560,321 SIM Technology Group Ltd. (Communications Equipment) (a) 5,478,000 2,154,752 Solarfun Power Holdings Co. -ADR (Electrical Components & Equipment) (c) 189,669 2,850,725 Xingda International Holdings Ltd. (Steel) (c) 6,668,000 3,663,549 Xinyi Glass Holding Co. Ltd. (Auto Parts & Equipment) (a) 9,042,000 4,236,356 Xiwang Sugar Holdings Co. Ltd. (Packaged Foods & Meats) (a) 4,280,000 2,082,901 Yantai North Andre Juice Co. Ltd. -Class H (Packaged Foods & Meats) (a) 22,125,000 2,578,606 -------------- 60,722,883 -------------- HONG KONG-17.75% ASM Pacific Technology Ltd. (Semiconductor Equipment) (a) 455,000 2,752,934 Champion REIT (Office REIT's) (Acquired 05/16/2006; Cost $1,993,400)(c)(d) 3,000,000 1,659,794 Cheung Kong (Holdings) Ltd. (Real Estate Management & Development) (a) 673,000 8,922,477 China Yurun Food Group Ltd. (Packaged Foods & Meats) (a) 2,977,181 2,702,095 CNOOC Ltd. -ADR (Oil & Gas Exploration & Production) (b) 41,700 3,576,609 Dickson Concepts (International) Ltd. (Apparel Retail) (a) 3,149,000 3,350,892 Esprit Holdings Ltd. (Apparel Retail) (a) 913,500 9,334,046 eSun Holdings Ltd. (Hotels, Resorts & Cruise Lines) (a)(c) 1,276,000 1,221,559 Hengan International Group Co. Ltd. (Personal Products) (a) 1,428,000 3,895,319 Hopewell Holdings Ltd. (Highways & Railtracks) (a) 1,978,000 7,579,650 Hutchison Whampoa Ltd. (Industrial Conglomerates) (a) 611,000 6,102,389 Lee & Man Paper Manufacturing Ltd. (Paper Products) (a) 1,608,000 3,822,836 Li & Fung Ltd. (Distributors) (a) 2,892,200 9,117,044 Neo-Neon Holdings Ltd. (Electronic Equipment Manufacturers) (Acquired 12/08/2006; Cost $252,106)(c)(d) 281,000 291,501
F-1 AIM Asia Pacific Growth Fund
SHARES VALUE ---------- -------------- HONG KONG-(CONTINUED) Paliburg Holdings Ltd. (Hotels, Resorts & Cruise Lines) (a) 83,576,000 $ 3,561,095 Regal Hotels International Holdings Ltd. (Hotels, Resorts & Cruise Lines) (a) 55,424,000 4,931,259 Top Form International Ltd. (Apparel, Accessories & Luxury Goods) (a) 19,300,000 3,444,927 Transport International (Holdings) Ltd. (Trucking) (a) 454,800 2,580,279 Wing Hang Bank Ltd. (Diversified Banks) (a) 283,000 3,582,960 Yue Yuen Industrial (Holdings) Ltd. (Footwear) 2,109,000 7,090,142 -------------- 89,519,807 -------------- INDIA-4.01% Aztecsoft Ltd. (IT Consulting & Other Services) (a) 628,216 2,069,145 Bharat Heavy Electricals Ltd. (Heavy Electrical Equipment) (a) 56,500 3,228,073 Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) (a) 99,300 3,779,960 Infosys Technologies Ltd. (IT Consulting & Other Services) (a) 168,056 8,612,099 Maruti Udyog Ltd. (Automobile Manufacturers) (a) 120,200 2,517,333 -------------- 20,206,610 -------------- INDONESIA-2.55% PT Astra International Tbk (Automobile Manufacturers) (a) 1,914,000 3,148,015 PT Mayora Indah Tbk (Packaged Foods & Meats) (a) 2,439,000 382,974 PT Telekomunikasi Indonesia -Series B (Integrated Telecommunication Services) (a) 5,791,500 6,047,152 PT United Tractors Tbk (Construction & Farm Machinery & Heavy Trucks) (a) 4,411,000 3,271,244 -------------- 12,849,385 -------------- MALAYSIA-5.66% Bumiputra-Commerce Holdings Berhad (Diversified Banks) (a) 765,000 2,017,557 Kossan Rubber Industries Berhad (Commodity Chemicals) (a) 1,927,000 2,602,353 Lafarge Malayan Cement Berhad (Construction Materials) (a) 1,396,500 658,174 Public Bank Berhad (Diversified Banks) (a) 3,252,000 8,570,090 SP Setia Berhad (Real Estate Management & Development) (a) 5,521,700 9,481,843 WCT Engineering Berhad (Construction & Engineering) (a) 3,729,000 5,227,768 -------------- 28,557,785 --------------
SHARES VALUE ---------- -------------- PHILIPPINES-3.74% First Gen Corp. (Independent Power Producers & Energy Traders) (a) 2,824,900 $ 3,207,796 Philippine Long Distance Telephone Co. (Wireless Telecommunication Services) (a) 148,000 7,912,474 PNOC Energy Development Corp. (Independent Power Producers & Energy Traders) (Acquired 12/04/2006; Cost $152,259)(c)(d) 2,335,000 231,946 PNOC Energy Development Corp. (Independent Power Producers & Energy Traders)(c) 7,955,000 790,204 SM Investments Corp. (Industrial Conglomerates) (a) 886,620 6,737,500 -------------- 18,879,920 -------------- SINGAPORE-5.99% Ezra Holdings Ltd. (Oil & Gas Equipment & Services) (a) 3,872,000 11,823,305 Gems TV Holdings Ltd. (Apparel, Accessories & Luxury Goods) (Acquired 11/03/2006; Cost $559,833)(c)(d) 801,000 646,767 Gems TV Holdings Ltd. (Apparel, Accessories & Luxury Goods)(c) 3,200,000 2,583,838 Keppel Corp. Ltd. (Industrial Conglomerates) (a) 742,000 8,704,046 United Overseas Bank Ltd. (Diversified Banks) (a) 520,000 6,445,164 -------------- 30,203,120 -------------- SOUTH KOREA-14.90% Cheil Communications Inc. (Advertising) 13,700 3,186,723 CJ Corp. (Packaged Foods & Meats) (a) 47,930 5,206,659 Daegu Bank (Regional Banks) (a) 374,180 6,178,609 Daesang Corp. (Packaged Foods & Meats) (a) 269,600 3,131,562 Hana Financial Group Inc. (Diversified Banks) (a) 148,357 7,348,457 Hyundai Department Store Co., Ltd. (Department Stores) (a)(c) 86,980 6,932,993 Hyundai Development Co. (Construction & Engineering) (a)(c) 67,800 3,584,810 Hyundai Heavy Industries Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) 17,300 2,500,622 Hyundai Mipo Dockyard Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) 27,040 3,374,615 Joongang Construction Co., Ltd. (Construction & Engineering) (a)(c) 213,690 2,907,936 Kookmin Bank (Diversified Banks) 38,000 3,023,048 Lotte Confectionery Co., Ltd. (Packaged Foods & Meats) (a)(c) 2,575 3,174,448 NHN Corp. (Internet Software & Services) (a) 21,600 2,850,591 Samsung Electronics Co., Ltd. (Semiconductors) (a) 10,150 6,284,615 Shinsegae Co., Ltd. (Hypermarkets & Super Centers) (a) 5,000 2,901,020
SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-2 AIM Asia Pacific Growth Fund
SHARES VALUE ---------- -------------- SOUTH KOREA-(CONTINUED) Sung Kwang Bend Co., Ltd. (Building Products) (a)(c) 373,400 $ 3,061,871 Taegu Department Store Co., Ltd. 165,880 2,942,322 (Department Stores) TechnoSemiChem Co., Ltd. (Commodity Chemicals) (a) 215,577 4,631,901 Woongjin Coway Co., Ltd. (Housewares & Specialties) (a)(c) 72,500 1,893,381 -------------- 75,116,183 -------------- TAIWAN-6.05% Catcher Technology Co., Ltd. (Computer Storage & Peripherals) (a) 301,516 3,262,037 Delta Electronics Inc. (Electronic Equipment Manufacturers) (a) 525,000 1,715,718 Hon Hai Precision Industry Co., Ltd. (Electronic Manufacturing Services) (a) 1,232,680 8,431,417 Hung Poo Real Estate Development Corp. (Real Estate Management & Development) (a) 2,274,000 2,124,403 MediaTek Inc. (Semiconductors) (a) 733,700 8,014,746 Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors) (a)(c) 1,626,677 3,359,977 Wistron Corp. (Computer Hardware) (a) 2,470,542 3,569,215 -------------- 30,477,513 -------------- THAILAND-3.89% Kasikornbank PCL (Diversified Banks) (a) 2,417,000 4,417,489 Siam Commercial Bank PCL (Diversified Banks) (a) 4,966,000 8,431,482 Thai Oil PCL (Oil & Gas Refining & Marketing) (a) 2,559,000 4,254,544 Thai Stanley Electric PCL -Class F (Auto Parts & Equipment) (a) 651,800 2,528,863 19,632,378 -------------- Total Foreign Common Stocks & Other Equity Interests (Cost $320,594,479) 466,111,744 -------------- MONEY MARKET FUNDS-5.69% Liquid Assets Portfolio -Institutional Class (e) 14,334,564 14,334,564 Premier Portfolio -Institutional Class (e) 14,334,564 14,334,564 -------------- Total Money Market Funds (Cost $28,669,128) 28,669,128 -------------- Total Investments (excluding investments purchased with cash collateral from securities loaned)-98.13% (Cost $349,263,607) 494,780,872 -------------- INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS-4.05% Liquid Assets Portfolio -Institutional Class (e)(f) 10,207,387 10,207,387
SHARES VALUE ---------- -------------- MONEY MARKET FUNDS-(CONTINUED) STIC Prime Portfolio -Institutional Class (e)(f) 10,207,387 $ 10,207,387 -------------- Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $20,414,774) 20,414,774 -------------- TOTAL INVESTMENTS-102.18% (Cost $369,678,381) 515,195,646 -------------- OTHER ASSETS LESS LIABILITIES-(2.18)% (10,967,805) -------------- NET ASSETS-100.00% $ 504,227,841 --------------
Investment Abbreviations: ADR -- American Depositary Receipt REIT -- Real Estate Investment Trust Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2007 was $415,599,955, which represented 82.42% of the Fund's Net Assets. See Note 1A. (b) All or a portion of this security was out on loan at January 31, 2007. (c) Non-income producing security. (d) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The aggregate value of these securities at January 31, 2007 was $2,830,008, which represented 0.56% of the Fund's Net Assets. Unless otherwise indicated, these securities are not considered to be illiquid. (e) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (f) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-3 AIM Asia Pacific Growth Fund NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2007 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. If market quotations are available and reliable for foreign exchange traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that are significant and may make the closing price unreliable, the Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following F-4 AIM Asia Pacific Growth Fund A. SECURITY VALUATIONS - (CONTINUED) procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. The Fund may invest in foreign securities which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Taxes are accrued based on the Fund's current interpretation of tax regulations and rates that exist in the foreign markets in which the Fund invests. F-5 AIM Asia Pacific Growth Fund E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. Fluctuations in the value of these contracts are recorded as unrealized appreciation (depreciation) until the contracts are closed. When these contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains and losses on these contracts are included in the Statement of Operations. The Fund could be exposed to risk, which may be in excess of the amount reflected in the Statement of Assets and Liabilities, if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to procedures approved by the Board of Trustees, to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2007. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME GAIN (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- -------- ----------- Liquid Assets $12,536,110 $23,429,447 $(21,630,993) $-- $14,334,564 $165,969 $-- Portfolio - Institutional Class Premier Portfolio- Institutional Class 12,536,110 23,429,447 (21,630,993) -- 14,334,564 164,943 -- ---------- ---------- ----------- --- ----------- -------- --- SUBTOTAL $25,072,220 $46,858,894 $(43,261,986) $-- $28,669,128 $330,912 $-- =========== =========== ============ === =========== ======== ===
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME * GAIN (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- -------- ----------- Liquid Assets Portfolio - Institutional Class $ 8,332,014 $13,809,800 $(11,934,427) $-- $10,207,387 $ 1,249 $-- STIC Prime Portfolio - Institutional Class 8,332,013 13,809,800 (11,934,426) -- 10,207,387 1,250 -- SUBTOTAL $16,664,027 $27,619,600 $(23,868,853) $-- $20,414,774 $ 2,499 $-- ----------- ----------- ------------ --- ----------- -------- --- TOTAL INVESTMENTS IN AFFILIATES $41,736,247 $74,478,494 $(67,130,839) $-- $49,083,902 $333,411 $-- =========== =========== ============ === =========== ======== ===
* Net of compensation to counterparties. F-6 AIM Asia Pacific Growth Fund NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. At January 31, 2007, securities with an aggregate value of $19,566,575 were on loan to brokers. The loans were secured by cash collateral of $20,414,774 received by the Fund and subsequently invested in affiliated money market funds. For the three months ended January 31, 2007, the Fund received dividends on cash collateral investments of $2,499 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Fund during the three months ended January 31, 2007 was $92,017,359 and $41,373,173, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as wash sales, that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $151,964,819 Aggregate unrealized (depreciation) of investment securities (6,733,216) ------------ Net unrealized appreciation of investment securities $145,231,603 ============
Cost of investments for tax purposes is $369,964,043. F-7 AIM EUROPEAN GROWTH FUND Quarterly Schedule of Portfolio Holdings - January 31, 2007 (AIM INVESTMENTS(R) LOGO) AIMinvestments.com EGR-QTR-1 1/07 A I M Advisors, Inc. AIM European Growth Fund SCHEDULE OF INVESTMENTS January 31, 2007 (Unaudited)
SHARES VALUE ---------- -------------- FOREIGN COMMON STOCKS & OTHER EQUITY INTERESTS-90.64% BELGIUM-3.22% Colruyt S.A. (Food Retail) (a) 68,300 $ 14,538,919 InBev N.V. (Brewers) (a) 316,586 20,410,709 KBC Groep N.V. (Diversified Banks) (a) 112,324 14,164,824 -------------- 49,114,452 -------------- CYPRUS-1.02% Bank of Cyprus Public PCL (Diversified Banks) (a) 1,019,090 15,571,759 -------------- DENMARK-0.93% Novo Nordisk A.S. -Class B (Pharmaceuticals) (a)(b) 165,033 14,204,472 -------------- FINLAND-0.67% Nokian Renkaat Oyj (Tires & Rubber) (a) 517,950 10,255,587 -------------- FRANCE-9.57% Axa (Multi-Line Insurance) (a) 385,967 16,381,101 BNP Paribas (Diversified Banks) (a) 228,401 25,658,427 Cap Gemini S.A. (IT Consulting & Other Services) (a) 192,431 12,250,062 Euler Hermes S.A. (Property & Casualty Insurance) (a) 63,700 9,443,416 Neopost S.A. (Office Electronics) (a) 104,800 13,506,792 Sanofi-Aventis (Pharmaceuticals) (a) 119,383 10,543,896 Societe Generale (Diversified Banks) 67,790 11,971,061 Total S.A. (Integrated Oil & Gas) (a) 286,292 19,331,198 Vinci S.A. (Construction & Engineering) (a) 196,000 27,049,114 -------------- 146,135,067 -------------- GERMANY-10.88% Bayer A.G. (Diversified Chemicals) (a) 307,929 18,194,068 Celesio A.G. (Health Care Distributors) (a) 178,400 10,219,848 Commerzbank A.G. (Diversified Banks) (a) 393,690 16,717,008 Continental A.G. (Tires & Rubber) 109,170 13,211,731 Deutsche Boerse A.G. (Specialized Finance) 92,500 19,433,966 MAN A.G. (Industrial Machinery) 159,365 16,764,934 Merck KGaA (Pharmaceuticals) (a) 88,568 10,326,641 MTU Aero Engines Holding A. G. (Aerospace & Defense) (a) 365,023 19,475,834 Puma A.G. Rudolf Dassler Sport (Footwear) (a) 72,448 26,420,987 --------------
SHARES VALUE ---------- -------------- GERMANY-(CONTINUED) Siemens A.G. (Industrial Conglomerates) (a)(c) 138,775 $ 15,286,570 -------------- 166,051,587 -------------- GREECE-5.98% EFG Eurobank Ergasias (Diversified Banks) (a) 182,040 7,155,038 Intralot S.A. (Casinos & Gaming) (a) 843,899 28,422,800 OPAP S.A. (Casinos & Gaming) (a) 341,160 12,813,322 OPAP S.A. (Casinos & Gaming) (Acquired 7/14/03; Cost $1,109,094)(a)(d) 104,000 3,906,042 Piraeus Bank S.A. (Diversified Banks) (a) 473,375 16,981,640 Titan Cement Co. (Construction Materials) (a) 391,243 22,065,459 -------------- 91,344,301 -------------- HUNGARY-1.72% MOL Hungarian Oil and Gas Nyrt. (Integrated Oil & Gas) (a) 58,473 6,039,649 OTP Bank Nyrt. (Diversified Banks) (a) 452,858 20,278,575 -------------- 26,318,224 -------------- IRELAND-5.16% Anglo Irish Bank Corp. PLC (Diversified Banks) (a) 1,642,213 33,354,321 CRH PLC (Construction Materials) 391,298 15,451,761 FBD Holdings PLC (Multi-Line Insurance) (a) 153,607 7,961,054 IAWS Group PLC (Packaged Foods & Meats) (a) 540,789 12,993,715 Independent News & Media PLC (Publishing) (a) 2,289,800 9,060,481 -------------- 78,821,332 -------------- ITALY-2.19% Davide Campari-Milano S.p.A. (Distillers & Vintners) 1,264,000 12,972,550 Eni S.p.A. (Integrated Oil & Gas) (a) 634,414 20,467,441 -------------- 33,439,991 -------------- NETHERLANDS-6.20% Aalberts Industries N.V. (Industrial Machinery) (a) 252,436 23,312,940 Heineken Holding N.V. (Brewers) (a) 327,048 14,190,713 ING Groep N.V. (Other Diversified Financial Services) (a) 115,677 5,060,187 Koninklijke BAM Groep N.V. (Construction & Engineering) (a)(c) 653,037 13,540,225 Nutreco Holding N.V. (Agricultural Products) 177,617 12,233,684
F-1 AIM European Growth Fund
SHARES VALUE ---------- -------------- NETHERLANDS-(CONTINUED) USG People N.V. (Human Resource & Employment Services) (a) 618,464 $ 26,311,661 -------------- 94,649,410 -------------- NORWAY-5.77% Cermaq A.S.A. (Packaged Foods & Meats) (a) 993,585 16,164,971 Pan Fish A. S. A (Packaged Foods & Meats) (Acquired 3/07/06; Cost $6,058,660)(a)(b) (c)(d) 9,215,000 9,918,954 Pan Fish A.S.A. (Packaged Foods & Meats) (a)(b)(c) 5,318,100 5,724,362 Petroleum Geo-Services A.S.A. (Oil & Gas Equipment & Services) (a)(b) 1,258,230 29,490,202 Prosafe A.S.A. (Oil & Gas Equipment & Services) (a)(c) 619,106 9,709,390 TGS Nopec Geophysical Co. A.S.A. (Oil & Gas Equipment & Services) (b) 836,000 17,046,188 -------------- 88,054,067 -------------- RUSSIA-1.64% LUKOIL -ADR (Integrated Oil & Gas) 89,000 7,039,900 Vimpel-Communications -ADR (Wireless Telecommunication Services) (b) 210,400 17,974,472 -------------- 25,014,372 -------------- SPAIN-2.88% Banco Santander Central Hispano S.A. (Diversified Banks) (a) 745,275 14,191,844 Corporacion Mapfre S.A. (Multi-Line Insurance) (a) 2,141,489 10,783,945 Industria de Diseno Textil, S.A. (Apparel Retail) (a) 334,813 19,063,669 -------------- 44,039,458 -------------- SWEDEN-1.67% Atlas Copco A.B. -Class A (Industrial Machinery) (a) 390,930 13,463,704 Swedish Match A.B. (Tobacco) 676,500 11,972,504 -------------- 25,436,208 -------------- SWITZERLAND-10.01% Compagnie Financiere Richemont S.A. -Class A (Apparel, Accessories & Luxury Goods) (a)(e) 354,630 19,790,111 Credit Suisse Group (Diversified Capital Markets) (a) 213,264 15,127,872 Nestle S.A. (Packaged Foods & Meats) 47,771 17,523,331 Phonak Holding A.G. (Health Care Equipment) 155,000 11,994,493 Rieter Holding A.G. (Auto Parts & Equipment) (a) 28,139 16,131,541 Roche Holding A.G. (Pharmaceuticals) (a) 155,045 29,226,501 Syngenta A.G. (Fertilizers & Agricultural Chemicals) (a) 136,500 25,224,971 UBS A.G. (Diversified Capital Markets) (a) 282,581 17,759,912 -------------- 152,778,732 --------------
SHARES VALUE ---------- -------------- TURKEY-1.54% Akbank T.A.S. (Diversified Banks) (a) 2,323,478 $ 14,967,724 Tupras-Turkiye Petrol Rafinerileri A.S. (Oil & Gas Refining & Marketing) (a) 475,398 8,499,831 -------------- 23,467,555 -------------- UNITED KINGDOM-19.59% Amlin PLC (Multi-Line Insurance) (a) 2,873,758 17,323,431 Aviva PLC (Multi-Line Insurance) (a) 737,896 11,949,974 Balfour Beatty PLC (Construction & Engineering) (a) 1,766,700 14,512,857 Bunzl PLC (Trading Companies & Distributors) (a) 1,360,864 17,089,130 Capita Group PLC (Human Resource & Employment Services) 1,409,600 17,558,257 Enterprise Inns (Restaurants) (a) 1,155,560 14,644,169 Homeserve PLC (Diversified Commercial & Professional Services) 320,173 10,838,426 Imperial Tobacco Group PLC (Tobacco) 520,261 21,240,418 Inchcape PLC (Distributors) (a) 1,371,180 14,368,278 Informa PLC (Publishing) (a) 2,073,141 22,823,288 International Power PLC (Independent Power Producers & Energy Traders) 2,511,089 17,773,065 Mitie Group PLC (Diversified Commercial & Professional Services) 2,919,500 13,622,861 Punch Taverns PLC (Restaurants) (a) 524,640 11,864,105 Reckitt Benckiser PLC (Household Products) (a) 257,245 12,411,771 Shire PLC (Pharmaceuticals) (a) 1,105,300 23,296,709 Tesco PLC (Food Retail) (a) 1,308,319 10,770,447 Ultra Electronics Holdings PLC (Aerospace & Defense) 547,110 12,264,689 Vedanta Resources PLC (Diversified Metals & Mining) (a) 650,529 14,910,108 WPP Group PLC (Advertising) (a) 1,347,192 19,819,595 -------------- 299,081,578 -------------- Total Foreign Common Stocks & Other Equity Interests (Cost $771,249,631) 1,383,778,152 -------------- PREFERRED STOCKS-2.78% GERMANY-2.78% Porsche A.G. -Pfd. (Automobile Manufacturers) (c) 17,151 21,666,727 Henkel KGaA -Pfd. (Household Products) (a) 133,453 20,883,075 -------------- Total Foreign Preferred Stocks (Cost $28,799,369) 42,549,802 -------------- MONEY MARKET FUNDS-5.92% Liquid Assets Portfolio -Institutional Class (f) 45,179,091 45,179,091 Premier Portfolio -Institutional Class (f) 45,179,091 45,179,091 -------------- Total Money Market Funds (Cost $90,358,182) 90,358,182 -------------- Total Investments (excluding investments purchased with cash collateral from securities loaned)-99.35% (Cost $890,407,182) $1,516,686,136 --------------
SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-2 AIM European Growth Fund INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS-3.52% Liquid Assets Portfolio -Institutional Class (f)(g) 53,721,498 53,721,498 -------------- Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $53,721,498) 53,721,498 -------------- TOTAL INVESTMENTS-102.86% (Cost $944,128,680) 1,570,407,634 -------------- OTHER ASSETS LESS LIABILITIES-(2.86)% (43,725,589) -------------- NET ASSETS-100.00% $1,526,682,045 ==============
Investment Abbreviations: ADR -- American Depositary Receipt Pfd. -- Preferred Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2007 was $1,125,772,936, which represented 73.74% of the Fund's Net Assets. See Note 1A. (b) Non-income producing security. (c) All or a portion of this security was out on loan at January 31, 2007. (d) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The aggregate value of these securities at January 31, 2007 was $13,824,996, which represented 0.91% of the Fund's Net Assets. Unless otherwise indicated, these securities are not considered to be illiquid. (e) Each unit represents one A bearer share in the company and one bearer share participation certificate in Richemont S.A. (f) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (g) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-3 AIM European Growth Fund NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2007 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. If market quotations are available and reliable for foreign exchange traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that are significant and may make the closing price unreliable, the Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following F-4 AIM European Growth Fund A. SECURITY VALUATIONS (CONTINUED) procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. The Fund may invest in foreign securities which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Taxes are accrued based on the Fund's current interpretation of tax regulations and rates that exist in the foreign markets in which the Fund invests. F-5 AIM European Growth Fund E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. Fluctuations in the value of these contracts are recorded as unrealized appreciation (depreciation) until the contracts are closed. When these contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains and losses on these contracts are included in the Statement of Operations. The Fund could be exposed to risk, which may be in excess of the amount reflected in the Statement of Assets and Liabilities, if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to procedures approved by the Board of Trustees, to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2007. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME GAIN (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- ---------- ----------- Liquid Assets Portfolio - Institutional Class $36,994,298 $42,153,961 $(33,969,168) $-- $45,179,091 $ 657,479 $-- Premier Portfolio- Institutional Class 36,994,298 42,153,961 (33,969,168) -- 45,179,091 653,388 -- ----------- ----------- ------------ --- ----------- ---------- --- SUBTOTAL $73,988,596 $84,307,922 $(67,938,336) $-- $90,358,182 $1,310,867 $-- ----------- ----------- ------------ --- ----------- ---------- ---
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME* GAIN (LOSS) - ---- ----------- ------------ -------------- -------------- ------------ ---------- ----------- Liquid Assets Portfolio - Institutional Class 21,417,700 $116,383,262 $ (84,079,464) $-- 53,721,498 $ 111,331 $-- ----------- ------------ ------------- --- ------------ ---------- --- TOTAL INVESTMENTS IN AFFILIATES $95,406,296 $200,691,184 $(152,017,800) $-- $144,079,680 $1,422,198 $-- ----------- ------------ ------------- --- ------------ ---------- ---
* Net of compensation to counterparties. F-6 AIM European Growth Fund NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. At January 31, 2007, securities with an aggregate value of $28,876,330 were on loan to brokers. The loans were secured by cash collateral of $53,721,498 received by the Fund and subsequently invested in an affiliated money market fund. For the three months ended January 31, 2007, the Fund received dividends on cash collateral investments of $111,331 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Fund during the three months ended January 31, 2007 was $105,564,193 and $52,787,560, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as wash sales, that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $626,595,533 Aggregate unrealized (depreciation) of investment securities (438,088) ------------ Net unrealized appreciation of investment securities $626,157,445 ============
Cost of investments for tax purposes is $944,250,189. F-7 AIM GLOBAL AGGRESSIVE GROWTH FUND Quarterly Schedule of Portfolio Holdings - January 31, 2007 AIMinvestments.com GLA-QTR-1 1/07 A I M Advisors, Inc. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark--
AIM Global Aggressive Growth Fund SCHEDULE OF INVESTMENTS January 31, 2007 (Unaudited)
SHARES VALUE ---------- -------------- FOREIGN COMMON STOCKS & OTHER EQUITY INTERESTS-61.37% AUSTRALIA-1.26% CSL Ltd. (Biotechnology) (a) 145,100 $ 7,857,862 Zinifex Ltd. (Diversified Metals & Mining) (a) 390,600 5,023,618 -------------- 12,881,480 -------------- BRAZIL-1.52% Perdigao S.A. (Packaged Foods & Meats) 525,900 6,685,012 Unibanco-Uniao de Bancos Brasileiros S.A.-GDR (Diversified Banks) 93,600 8,876,088 -------------- 15,561,100 -------------- CANADA-4.67% Astral Media Inc. (Broadcasting & Cable TV) 158,400 6,178,771 Brookfield Asset Management Inc. -Class A (Real Estate Management & Development) (b) 204,550 9,993,694 Power Financial Corp. (Life & Health Insurance) 263,200 8,403,522 Sherritt International Corp. (Diversified Metals & Mining) 967,300 11,467,523 Shoppers Drug Mart Corp. (Drug Retail) (Acquired 05/16/03-11/18/03; Cost $4,714,720)(c)(d)(e) 277,500 11,859,841 -------------- 47,903,351 -------------- CYPRUS-1.04% Bank of Cyprus Public PCL (Diversified Banks) (a) 699,400 10,686,876 FINLAND-0.76% Nokian Renkaat Oyj (Tires & Rubber) (a)(b) 393,500 7,791,434 GERMANY-5.07% Celesio A.G. (Health Care Distributors) (a) 170,600 9,773,016 Continental A.G. (Tires & Rubber) 90,140 10,908,724 Deutsche Boerse A.G. (Specialized Finance) 75,200 15,799,289 Puma A.G. Rudolf Dassler Sport (Footwear) (a) 38,700 14,113,464 Puma A.G. Rudolf Dassler Sport (Footwear) (Acquired 06/02/03; Cost $398,309)(a)(c) 3,935 1,435,051 -------------- 52,029,544 -------------- GREECE-4.84% EFG Eurobank Ergasias (Diversified Banks) (a) 167,424 6,580,559
SHARES VALUE ---------- -------------- GREECE-(CONTINUED) Intralot S.A. (Casinos & Gaming) (a) 477,186 $ 16,071,784 OPAP S.A. (Casinos & Gaming) (a) 205,630 7,723,072 OPAP S.A. (Casinos & Gaming) (Acquired 07/14/03; Cost $2,090,216)(a)(c) 196,000 7,361,388 Titan Cement Co. (Construction Materials) (a) 209,800 11,832,374 -------------- 49,569,177 -------------- HONG KONG-2.31% Esprit Holdings Ltd. (Apparel Retail) (a) 764,000 7,806,471 Hongkong Land Holdings Ltd. (Real Estate Management & Development) (a) 1,857,000 8,267,267 Regal Hotels International Holdings Ltd. (Hotels, Resorts & Cruise Lines) (a) 85,292,000 7,588,715 -------------- 23,662,453 -------------- HUNGARY-2.05% OTP Bank Nyrt. (Diversified Banks) (a)(b) 470,069 21,049,268 INDONESIA-0.56% PT Astra International Tbk (Automobile Manufacturers) (a) 3,487,000 5,735,176 IRELAND-3.34% Anglo Irish Bank Corp. PLC (Diversified Banks) (a) 1,381,762 28,063,496 Independent News & Media PLC (Publishing) (a) 1,566,800 6,199,651 -------------- 34,263,147 -------------- JAPAN-2.08% EXEDY Corp. (Auto Parts & Equipment) (a)(b) 317,800 10,308,291 JSR Corp. (Specialty Chemicals) (a)(b) 214,000 5,097,979 Suzuki Motor Corp. (Automobile Manufacturers) (b) 207,000 5,952,022 -------------- 21,358,292 -------------- MEXICO-1.92% America Movil S.A. de C.V. -Series L -ADR (Wireless Telecommunication Services) 173,500 7,696,460 Corporacion GEO, S.A. de C.V. -Series B (Homebuilding) (e) 848,800 4,505,537 Wal-Mart de Mexico S.A. de C.V. -Series V (Hypermarkets & Super Centers) 1,679,900 7,437,551 -------------- 19,639,548 --------------
F-1 AIM Global Aggressive Growth Fund
SHARES VALUE ---------- -------------- NETHERLANDS-2.65% Koninklijke BAM Groep N.V. (Construction & Engineering) (a)(b) 372,164 $ 7,716,537 USG People N.V. (Human Resource & Employment Services) (a) 457,718 19,472,954 -------------- 27,189,491 -------------- NORWAY-3.37% Pan Fish A.S.A. (Packaged Foods & Meats) (a)(b)(e) 9,537,000 10,265,553 Petroleum Geo-Services A.S.A. (Oil & Gas Equipment & Services) (a)(e) 785,820 18,417,929 Prosafe A.S.A. (Oil & Gas Equipment & Services) (a)(b) 374,370 5,871,214 -------------- 34,554,696 -------------- PHILIPPINES-0.21% PNOC Energy Development Corp. (Independent Power Producers & Energy Traders) (e) 16,536,000 1,642,593 PNOC Energy Development Corp. (Independent Power Producers & Energy Traders) (Acquired 12/04/06; Cost $343,121)(c)(e) 5,262,000 522,697 -------------- 2,165,290 -------------- RUSSIA-2.03% Vimpel-Communications -ADR (Wireless Telecommunication Services) (e) 243,070 20,765,470 SOUTH AFRICA-2.90% Standard Bank Group Ltd. (Diversified Banks) (a)(b) 1,338,442 18,334,845 Telkom South Africa Ltd. (Integrated Telecommunication Services) (a)(b) 448,900 10,001,346 Telkom South Africa Ltd. (Integrated Telecommunication Services) (Acquired 06/18/04; Cost $727,409)(a)(b)(c) 64,700 1,441,495 -------------- 29,777,686 -------------- SOUTH KOREA-2.05% Daegu Bank (Regional Banks) (a) 504,700 8,333,807 Hyundai Development Co. (Construction & Engineering) (a)(e) 129,290 6,835,990 Hyundai Mipo Dockyard Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) 47,050 5,871,880 -------------- 21,041,677 -------------- SPAIN-0.75% Corporacion Mapfre S.A. (Multi-Line Insurance) (a) 1,534,741 7,728,531 SWEDEN-0.85% Swedish Match A.B. (Tobacco) 493,700 8,737,362 SWITZERLAND-4.48% Baloise Holding A.G. (Multi-Line Insurance) (a) 93,300 9,481,700
SHARES VALUE ---------- -------------- SWITZERLAND-(CONTINUED) Phonak Holding A.G. (Health Care Equipment) 119,000 $ 9,208,675 Syngenta A.G. (Fertilizers & Agricultural Chemicals) (a) (e) 147,600 27,276,232 -------------- 45,966,607 -------------- THAILAND-1.02% Siam Commercial Bank PCL (Diversified Banks) (a) 6,163,000 10,463,799 TURKEY-0.64% Tupras-Turkiye Petrol Rafinerileri A.S. (Oil & Gas Refining & Marketing) (a) 367,305 6,567,193 UNITED KINGDOM-9.00% Bunzl PLC (Trading Companies & Distributors) (a) 799,533 10,040,183 Capita Group PLC (Human Resource & Employment Services) 885,000 11,023,735 Enterprise Inns PLC (Restaurants) (a) 1,250,100 15,842,254 Inchcape PLC (Distributors) (a) 1,200,600 12,580,809 Informa PLC (Publishing) (a) 1,187,305 13,071,086 International Power PLC (Independent Power Producers & Energy Traders) 1,845,000 13,058,600 Shire PLC (Pharmaceuticals) (a) 789,500 16,640,507 -------------- 92,257,174 -------------- Total Foreign Common Stocks & Other Equity Interests (Cost $313,657,104) 629,345,822 -------------- DOMESTIC COMMON STOCKS-33.58% AEROSPACE & DEFENSE-2.76% Precision Castparts Corp. 125,000 11,111,250 Rockwell Collins, Inc. 126,500 8,628,565 Spirit Aerosystems Holdings Inc. -Class A (e) 278,181 8,520,684 -------------- 28,260,499 -------------- APPAREL RETAIL-1.55% Aeropostale, Inc. (e) 209,890 7,543,447 Limited Brands, Inc. 300,457 8,394,768 -------------- 15,938,215 -------------- APPAREL, ACCESSORIES & LUXURY GOODS-2.38% Carter's, Inc. (e) 255,000 6,477,000 Liz Claiborne, Inc. 142,000 6,304,800 Phillips-Van Heusen Corp. 113,380 6,252,907 Polo Ralph Lauren Corp. 65,000 5,333,250 -------------- 24,367,957 -------------- APPLICATION SOFTWARE-1.82% Amdocs Ltd. (e) 391,899 13,591,057 BEA Systems, Inc. (e) 407,724 5,027,237 -------------- 18,618,294 -------------- ASSET MANAGEMENT & CUSTODY BANKS-1.25% AllianceBernstein Holding L.P. 142,500 12,837,825
SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-2 AIM Global Aggressive Growth Fund
SHARES VALUE ---------- -------------- COMPUTER STORAGE & PERIPHERALS-0.53% Seagate Technology 200,000 $ 5,418,000 DATA PROCESSING & OUTSOURCED SERVICES-1.97% Fiserv, Inc. (e) 150,000 7,885,500 Global Payments Inc. 145,234 5,484,036 VeriFone Holdings, Inc. (e) 171,606 6,859,092 -------------- 20,228,628 -------------- ELECTRICAL COMPONENTS & EQUIPMENT-1.55% Acuity Brands, Inc. 125,000 7,251,250 Cooper Industries, Ltd. -Class A 95,000 8,682,050 -------------- 15,933,300 -------------- ELECTRONIC EQUIPMENT MANUFACTURERS-1.34% Amphenol Corp. -Class A 80,000 5,417,600 Mettler-Toledo International Inc. (e) 100,000 8,280,000 -------------- 13,697,600 -------------- ENVIRONMENTAL & FACILITIES SERVICES-0.70% Republic Services, Inc. 165,000 7,136,250 FOOD RETAIL-0.79% Safeway Inc. 225,000 8,106,750 GENERAL MERCHANDISE STORES-0.79% Family Dollar Stores, Inc. 250,500 8,116,200 HEALTH CARE DISTRIBUTORS-0.87% AmerisourceBergen Corp. 170,000 8,904,600 HEALTH CARE EQUIPMENT-0.52% Varian Medical Systems, Inc. (e) 115,000 5,304,950 HEALTH CARE FACILITIES-1.30% Manor Care, Inc. 135,000 7,187,400 VCA Antech, Inc. (e) 184,093 6,189,207 -------------- 13,376,607 -------------- HEALTH CARE SERVICES-0.61% Quest Diagnostics Inc. 120,000 6,297,600 HEALTH CARE TECHNOLOGY-0.73% IMS Health Inc. 260,000 7,503,600 HOUSEHOLD PRODUCTS-1.02% Clorox Co. (The) 115,000 7,523,300 Energizer Holdings, Inc. (e) 35,000 2,983,050 -------------- 10,506,350 -------------- INDUSTRIAL CONGLOMERATES-0.95% McDermott International, Inc. (e) 189,273 9,774,058 INVESTMENT BANKING & BROKERAGE-0.86% Edwards (A.G.), Inc. 132,500 8,772,825
SHARES VALUE ---------- -------------- MANAGED HEALTH CARE-1.71% Health Net Inc. (e) 205,000 $ 9,985,550 Humana Inc. (e) 136,199 7,559,045 -------------- 17,544,595 -------------- MULTI-LINE INSURANCE-1.22% Assurant, Inc. 225,000 12,505,500 OIL & GAS EQUIPMENT & SERVICES-1.66% Cameron International Corp. (e) 150,000 7,875,000 National-Oilwell Varco Inc. (e) 150,000 9,096,000 -------------- 16,971,000 -------------- PROPERTY & CASUALTY INSURANCE-0.73% Ambac Financial Group, Inc. 85,000 7,488,500 REGIONAL BANKS-0.27% Cullen/Frost Bankers, Inc. 51,795 2,772,586 RESTAURANTS-0.77% Darden Restaurants, Inc. 200,492 7,847,257 SEMICONDUCTORS-1.24% Microchip Technology Inc. 220,000 7,647,200 Xilinx, Inc. 210,000 5,103,000 -------------- 12,750,200 -------------- SPECIALTY STORES-0.49% OfficeMax Inc. 104,000 5,022,160 SYSTEMS SOFTWARE-1.20% MICROS Systems, Inc. (e) 122,500 6,896,750 Sybase, Inc. (e) 208,714 5,403,605 -------------- 12,300,355 -------------- Total Domestic Common Stocks (Cost $289,476,632) 344,302,261 -------------- FOREIGN PREFERRED STOCKS-0.75% BRAZIL-0.75% Lojas Americanas S.A. -Pfd. (General Merchandise Stores) 132,600 7,679,257 -------------- Total Foreign Preferred Stocks (Cost $2,464,704) 7,679,257 --------------
SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-3 AIM Global Aggressive Growth Fund
SHARES VALUE ---------- -------------- MONEY MARKET FUNDS-3.88% Liquid Assets Portfolio -Institutional Class (f) 19,879,049 $ 19,879,049 Premier Portfolio -Institutional Class (f) 19,879,049 19,879,049 -------------- Total Money Market Funds (Cost $39,758,098) 39,758,098 -------------- Total Investments (excluding investments purchased with cash collateral from securities loaned)-99.58% (Cost $645,356,538) 1,021,085,438 -------------- INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS-6.67% Liquid Assets Portfolio -Institutional Class (f)(g) 34,188,120 34,188,120 STIC Prime Portfolio -Institutional Class (f)(g) 34,188,120 34,188,120 -------------- Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $68,376,240) 68,376,240 -------------- TOTAL INVESTMENTS-106.25% (Cost $713,732,778) 1,089,461,678 OTHER ASSETS LESS LIABILITIES-(6.25)% (64,056,554) -------------- NET ASSETS-100.00% $1,025,405,124 ==============
Investment Abbreviations: ADR -- American Depositary Receipt GDR -- Global Depositary Receipt Pfd. -- Preferred Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2007 was $442,750,776, which represented 43.18% of the Fund's Net Assets. See Note 1A. (b) All or a portion of this security was out on loan at January 31, 2007. (c) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The aggregate value of these securities at January 31, 2007 was $22,620,472, which represented 2.21% of the Fund's Net Assets. Unless otherwise indicated, these securities are not considered to be illiquid. (d) Security fair valued in good faith in accordance with the procedures established by the Board of Trustees. The value of this security at January 31, 2007 represented 1.16% of the Fund's Net Assets. See Note 1A. (e) Non-income producing security. (f) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (g) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-4 AIM Global Aggressive Growth Fund NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2007 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. If market quotations are available and reliable for foreign exchange traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that are significant and may make the closing price unreliable, the Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following F-5 AIM Global Aggressive Growth Fund A. SECURITY VALUATIONS - (CONTINUED) procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. The Fund may invest in foreign securities which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Taxes are accrued based on the Fund's current interpretation of tax regulations and rates that exist in the foreign markets in which the Fund invests. F-6 AIM Global Aggressive Growth Fund E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. Fluctuations in the value of these contracts are recorded as unrealized appreciation (depreciation) until the contracts are closed. When these contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains and losses on these contracts are included in the Statement of Operations. The Fund could be exposed to risk, which may be in excess of the amount reflected in the Statement of Assets and Liabilities, if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to procedures approved by the Board of Trustees, to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2007. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME GAIN (LOSS) - ---------------------- ----------- ------------ ------------- -------------- ----------- -------- ----------- Liquid Assets Portfolio - Institutional Class $18,202,851 $30,578,018 $(28,901,820) $-- $19,879,049 $236,377 $-- Premier Portfolio- Institutional Class 18,202,851 30,578,018 (28,901,820) -- 19,879,049 234,896 -- ----------- ----------- ------------ --- ----------- -------- --- SUBTOTAL $36,405,702 $61,156,036 $(57,803,640) $-- $39,758,098 $471,273 $-- =========== =========== ============ === =========== ======== ===
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME* GAIN (LOSS) - ---------------------- ----------- ------------ ------------- -------------- ------------ -------- ----------- Liquid Assets Portfolio - Institutional Class $28,104,584 $ 35,233,811 $ (29,150,275) $-- $ 34,188,120 $ 17,373 $-- STIC Prime Portfolio - - Institutional Class 28,104,585 35,233,811 (29,150,276) -- 34,188,120 17,376 -- ----------- ------------ ------------- --- ------------ -------- --- SUBTOTAL $56,209,169 $ 70,467,622 $ (58,300,551) $-- $ 68,376,240 $ 34,749 $-- ----------- ------------ ------------- --- ------------ -------- --- TOTAL INVESTMENTS IN AFFILIATES $92,614,871 $131,623,658 $(116,104,191) $-- $108,134,338 $506,022 $-- =========== ============ ============= === =========== ======== ===
* Net of compensation to counterparties. F-7 AIM Global Aggressive Growth Fund NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. At January 31, 2007, securities with an aggregate value of $66,438,102 were on loan to brokers. The loans were secured by cash collateral of $68,376,240 received by the Fund and subsequently invested in affiliated money market funds. For the three months ended January 31, 2007, the Fund received dividends on cash collateral investments of $34,749 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Fund during the three months ended January 31, 2007 was $120,721,301 and $152,533,630, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as wash sales, that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $378,849,718 Aggregate unrealized (depreciation) of investment securities (3,027,194) ------------ Net unrealized appreciation of investment securities $375,822,524 ============ Cost of investments for tax purposes is $713,639,154.
F-8 AIM GLOBAL GROWTH FUND Quarterly Schedule of Portfolio Holdings - January 31, 2007 AIMinvestments.com GLG-QTR-1 1/07 A I M Advisors, Inc. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark--
AIM Global Growth Fund SCHEDULE OF INVESTMENTS January 31, 2007 (Unaudited)
SHARES VALUE ---------- -------------- FOREIGN COMMON STOCKS & OTHER EQUITY INTERESTS-68.87% AUSTRALIA-2.13% BHP Billiton Ltd. (Diversified Metals & Mining) (a) 228,130 $ 4,669,412 QBE Insurance Group Ltd. (Property & Casualty Insurance) (a) 207,382 4,983,068 -------------- 9,652,480 -------------- BELGIUM-2.76% InBev N.V. (Brewers) (a) 129,802 8,368,503 KBC Groep N.V. (Diversified Banks) (a) 32,761 4,131,386 -------------- 12,499,889 -------------- CANADA-1.97% Manulife Financial Corp. (Life & Health Insurance) (b) 123,250 4,158,260 Suncor Energy, Inc. (Integrated Oil & Gas) 63,900 4,735,345 -------------- 8,893,605 -------------- DENMARK-1.09% Novo Nordisk A.S. -Class B (Pharmaceuticals) (a) 57,149 4,918,843 FRANCE-11.32% Axa (Multi-Line Insurance) (a)(b) 128,754 5,464,540 BNP Paribas (Diversified Banks) (a)(b) 101,817 11,438,059 Cap Gemini S.A. (IT Consulting & Other Services) (a)(b)(c) 65,101 4,144,297 Sanofi-Aventis (Pharmaceuticals) (a)(b)(c) 41,361 3,653,000 Societe Generale (Diversified Banks) (b) 41,932 7,404,788 Total S.A. (Integrated Oil & Gas) (a)(b) 116,440 7,862,339 Vinci S.A. (Construction & Engineering) (a)(b) 81,354 11,227,314 -------------- 51,194,337 -------------- GERMANY-6.83% Bayer A.G. (Diversified Chemicals) (a) 97,393 5,754,492 Commerzbank A.G. (Diversified Banks) (a) 156,052 6,626,337 MAN A.G. (Industrial Machinery) (b) 54,207 5,702,486 Merck KGaA (Pharmaceuticals) (a) 33,552 3,912,016 Puma A.G. Rudolf Dassler Sport (Footwear) (a) 8,731 3,184,100 Siemens A.G. (Industrial Conglomerates) (a)(b) 51,677 5,692,409 -------------- 30,871,840 --------------
SHARES VALUE ---------- -------------- GREECE-1.32% OPAP S.A. (Casinos & Gaming) (a) 159,430 $ 5,987,888 HONG KONG-0.84% Cheung Kong (Holdings) Ltd. (Real Estate Management & Development) (a) 287,000 3,804,979 HUNGARY-0.77% OTP Bank Nyrt. (Diversified Banks) (a) 77,501 3,470,425 INDIA-1.38% Infosys Technologies Ltd. -ADR (IT Consulting & Other Services) (b) 107,674 6,245,092 IRELAND-2.91% Anglo Irish Bank Corp. PLC (Diversified Banks) (a) 409,661 8,320,458 CRH PLC (Construction Materials) 122,302 4,829,520 -------------- 13,149,978 -------------- ISRAEL-1.09% Teva Pharmaceutical Industries Ltd. -ADR (Pharmaceuticals) 140,928 4,946,573 ITALY-1.60% Eni S.p.A. (Integrated Oil & Gas) (a) 223,519 7,211,162 JAPAN-6.66% AEON Co., Ltd. (Hypermarkets & Super Centers) (a) 100,200 2,183,720 Canon Inc. (Office Electronics) (a) 88,500 4,667,862 Hoya Corp. (Electronic Equipment Manufacturers) (a) 74,500 2,707,608 Keyence Corp. (Electronic Equipment Manufacturers) (a)(b) 23,000 5,190,490 Komatsu Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) 132,000 2,821,962 Mizuho Financial Group, Inc. (Diversified Banks) (Acquired 10/24/05; Cost $1,965,554)(a)(d) 327 2,362,023 Mizuho Financial Group, Inc. (Diversified Banks) (a) 121 874,021 ORIX Corp. (Consumer Finance) (a)(b) 13,150 3,782,815 Toyota Motor Corp. (Automobile Manufacturers) (a) 83,600 5,509,049 -------------- 30,099,550 -------------- MEXICO-1.95% Grupo Televisa S.A. -ADR (Broadcasting & Cable TV) 105,306 3,102,315
F-1 AIM Global Growth Fund
SHARES VALUE ---------- -------------- MEXICO-(CONTINUED) Wal-Mart de Mexico S.A. de C.V. -Series V (Hypermarkets & Super Centers) 1,294,800 $ 5,732,567 -------------- 8,834,882 -------------- NETHERLANDS-0.34% ING Groep N.V. (Other Diversified Financial Services) (a) 35,384 1,547,841 RUSSIA-0.64% LUKOIL -ADR (Integrated Oil & Gas) 36,681 2,901,467 SOUTH AFRICA-0.60% Telkom South Africa Ltd. (Integrated Telecommunication Services) (a) 121,700 2,711,436 SOUTH KOREA-0.94% Samsung Electronics Co., Ltd. (Semiconductors) (a) 6,850 4,241,341 SPAIN-2.78% Banco Santander Central Hispano S.A. (Diversified Banks) (a) 270,951 5,159,564 Industria de Diseno Textil, S.A. (Apparel Retail) (a) 130,526 7,431,923 -------------- 12,591,487 -------------- SWEDEN-0.89% Atlas Copco A.B. -Class A (Industrial Machinery) (a) 116,700 4,019,170 SWITZERLAND-10.56% Compagnie Financiere Richemont A.G. -Class A (Apparel, Accessories & Luxury Goods) (a)(b) 125,694 7,014,348 Credit Suisse Group (Diversified Capital Markets) (a) 68,577 4,864,506 Nestle S.A. (Packaged Foods & Meats) 19,171 7,032,295 Roche Holding A.G. (Pharmaceuticals) (a) 57,346 10,809,913 Syngenta A.G. (Fertilizers & Agricultural Chemicals) (a)(c) 50,415 9,316,607 UBS A.G. (Diversified Capital Markets) (a) 138,954 8,733,110 -------------- 47,770,779 -------------- TAIWAN-0.57% Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors) (a) 1,243,967 2,569,472 UNITED KINGDOM-6.93% Aviva PLC (Multi-Line Insurance) (a) 320,413 5,188,980 Imperial Tobacco Group PLC (Tobacco) 200,975 8,205,099 Reckitt Benckiser PLC (Household Products) (a) 130,857 6,313,697 Tesco PLC (Food Retail) (a) 597,640 4,919,939
SHARES VALUE ---------- -------------- UNITED KINGDOM-(CONTINUED) WPP Group PLC (Advertising) (a) 455,413 $ 6,699,937 -------------- 31,327,652 -------------- Total Foreign Common Stocks & Other Equity Interests (Cost $174,467,784) 311,462,168 -------------- DOMESTIC COMMON STOCKS-23.41% AEROSPACE & DEFENSE-2.92% General Dynamics Corp. 106,276 8,305,470 Precision Castparts Corp. 55,171 4,904,150 -------------- 13,209,620 -------------- APPAREL RETAIL-0.77% TJX Cos., Inc. (The) 117,250 3,467,082 APPLICATION SOFTWARE-0.65% Amdocs Ltd. (c) 84,493 2,930,217 BIOTECHNOLOGY-1.34% Amgen Inc. (c) 38,871 2,735,352 Gilead Sciences, Inc. (c) 51,492 3,311,966 -------------- 6,047,318 -------------- COMMUNICATIONS EQUIPMENT-1.49% Cisco Systems, Inc. (c) 253,426 6,738,597 COMPUTER STORAGE & PERIPHERALS-0.76% Seagate Technology (b) 126,185 3,418,352 DEPARTMENT STORES-1.01% J.C. Penney Co., Inc. 56,408 4,582,586 ELECTRICAL COMPONENTS & EQUIPMENT-0.51% Emerson Electric Co. 51,674 2,323,780 ENVIRONMENTAL & FACILITIES SERVICES-0.77% Waste Management, Inc. 91,223 3,464,650 HEALTH CARE EQUIPMENT-0.74% Becton, Dickinson and Co. 43,471 3,344,659 HEALTH CARE SERVICES-0.58% Quest Diagnostics Inc. 50,000 2,624,000 HOUSEHOLD PRODUCTS-1.00% Colgate-Palmolive Co. 66,189 4,520,709 INTEGRATED OIL & GAS-0.55% Occidental Petroleum Corp. 53,594 2,484,618 INVESTMENT BANKING & BROKERAGE-1.68% Goldman Sachs Group, Inc. (The) 35,793 7,593,843 MANAGED HEALTH CARE-0.94% UnitedHealth Group Inc. 81,651 4,267,081
SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-2 AIM Global Growth Fund
SHARES VALUE ---------- -------------- MULTI-LINE INSURANCE-0.49% Assurant, Inc. 39,405 $ 2,190,130 OIL & GAS EQUIPMENT & SERVICES-1.12% National-Oilwell Varco Inc. (c) 42,655 2,586,599 Weatherford International Ltd. (c) 61,670 2,490,235 -------------- 5,076,834 -------------- OIL & GAS REFINING & MARKETING-0.86% Valero Energy Corp. 71,686 3,891,116 OTHER DIVERSIFIED FINANCIAL SERVICES-0.97% JPMorgan Chase & Co. 86,164 4,388,332 PHARMACEUTICALS-0.92% Merck & Co. Inc. (b) 92,903 4,157,409 PUBLISHING-0.75% McGraw-Hill Cos., Inc. (The) 50,826 3,409,408 SYSTEMS SOFTWARE-2.59% Microsoft Corp. 133,125 4,108,238 Oracle Corp. (c) 236,459 4,057,636 Symantec Corp. (c) 200,802 3,556,203 -------------- 11,722,077 -------------- Total Domestic Common Stocks (Cost $92,000,058) 105,852,418 -------------- FOREIGN PREFERRED STOCKS-4.57% BRAZIL-1.07% Companhia de Bebidas das Americas -Pfd.-ADR (Brewers) 93,455 4,834,427 GERMANY-3.50% Henkel KGaA -Pfd. (Household Products) (a)(b) 56,890 8,902,296 Porsche A.G. -Pfd. (Automobile Manufacturers) (b) 5,502 6,950,635 -------------- Total Foreign Preferred Stocks (Cost $11,691,188) 20,687,358 -------------- MONEY MARKET FUNDS-2.25% Liquid Assets Portfolio -Institutional Class (e) 5,093,576 5,093,576 Premier Portfolio -Institutional Class (e) 5,093,576 5,093,576 -------------- Total Money Market Funds (Cost $10,187,152) 10,187,152 -------------- Total Investments (excluding investments purchased with cash collateral from securities loaned)-99.10% (Cost $288,346,182) 448,189,096 -------------- INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS-14.88% STIC Prime Portfolio -Institutional Class (e)(f) 38,909,376 38,909,376 --------------
SHARES VALUE ---------- -------------- MONEY MARKET FUNDS-(CONTINUED) Liquid Assets Portfolio -Institutional Class (e)(f) 28,377,970 $ 28,377,970 -------------- Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $67,287,346) 67,287,346 -------------- TOTAL INVESTMENTS-113.98% (Cost $355,633,528) 515,476,442 -------------- OTHER ASSETS LESS LIABILITIES-(13.98)% (63,227,235) -------------- NET ASSETS-100.00% $ 452,249,207 ==============
Investment Abbreviations: ADR -- American Depositary Receipt Pfd. -- Preferred Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2007 was $255,368,657, which represented 56.47% of the Fund's Net Assets. See Note 1A. (b) All or a portion of this security was out on loan at January 31, 2007. (c) Non-income producing security. (d) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The value of this security at January 31, 2007 represented 0.52% of the Fund's Net Assets. Unless otherwise indicated, this security is not considered to be illiquid. (e) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (f) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-3 AIM Global Growth Fund NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2007 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. If market quotations are available and reliable for foreign exchange traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that are significant and may make the closing price unreliable, the Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following F-4 AIM Global Growth Fund A. SECURITY VALUATIONS - (CONTINUED) procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. The Fund may invest in foreign securities which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Taxes are accrued based on the Fund's current interpretation of tax regulations and rates that exist in the foreign markets in which the Fund invests. F-5 AIM Global Growth Fund E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. Fluctuations in the value of these contracts are recorded as unrealized appreciation (depreciation) until the contracts are closed. When these contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains and losses on these contracts are included in the Statement of Operations. The Fund could be exposed to risk, which may be in excess of the amount reflected in the Statement of Assets and Liabilities, if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to procedures approved by the Board of Trustees, to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2007. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME GAIN (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- -------- ----------- Liquid Assets Portfolio - Institutional Class $ 8,342,502 $14,778,078 $(18,027,004) $-- $ 5,093,576 $ 99,477 $-- Premier Portfolio- Institutional Class 8,342,502 14,778,078 (18,027,004) -- 5,093,576 98,850 -- ----------- ----------- ------------ --- ----------- -------- --- SUBTOTAL $16,685,004 $29,556,156 $(36,054,008) $-- $10,187,152 $198,327 $-- =========== =========== ============ === =========== ======== ===
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME* GAIN (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- -------- ----------- Liquid Assets $28,377,970 $ -- $ -- $-- $28,377,970 $ 18,887 $-- Portfolio - Institutional Class STIC Prime Portfolio - Institutional Class 20,347,646 51,202,555 (32,640,825) -- 38,909,376 19,295 -- ----------- ----------- ------------ --- ----------- -------- --- SUBTOTAL $48,725,616 $51,202,555 $(32,640,825) $-- $67,287,346 $ 38,182 $-- ----------- ----------- ------------ --- ----------- -------- --- TOTAL INVESTMENTS IN AFFILIATES $65,410,620 $80,758,711 $(68,694,833) $-- $77,474,498 $236,509 $-- =========== =========== ============ === =========== ======== ===
* Net of compensation to counterparties. F-6 AIM Global Growth Fund NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. At January 31, 2007, securities with an aggregate value of $64,423,776 were on loan to brokers. The loans were secured by cash collateral of $67,287,346 received by the Fund and subsequently invested in an affiliated money market fund. For the three months ended January 31, 2007, the Fund received dividends on cash collateral investments of $38,182 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Fund during the three months ended January 31, 2007 was $50,656,053 and $54,001,520, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as wash sales, that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $160,469,853 Aggregate unrealized (depreciation) of investment securities (2,496,606) ------------ Net unrealized appreciation of investment securities $157,973,247 ============
Cost of investments for tax purposes is $357,503,195. F-7 AIM INTERNATIONAL CORE EQUITY FUND Quarterly Schedule of Portfolio Holdings - January 31, 2007 (AIM INVESTMENTS(R) LOGO) AIMinvestments.com I-ICE-QTR-1 1/07 A I M Advisors, Inc. AIM International Core Equity Fund SCHEDULE OF INVESTMENTS January 31, 2007 (Unaudited)
SHARES VALUE ---------- -------------- FOREIGN COMMON STOCKS & OTHER EQUITY INTERESTS-96.14% AUSTRALIA-1.41% National Australia Bank Ltd. (Diversified Banks) (a)(b) 218,100 $ 6,858,458 -------------- CANADA-1.78% BCE Inc. (Integrated Telecommunication Services) (a) 213,908 5,624,470 EnCana Corp. (Oil & Gas Exploration & Production) 63,200 3,031,903 -------------- 8,656,373 -------------- CHINA-0.77% China Life Insurance Co., Ltd. -ADR (Life & Health Insurance) (a) 84,531 3,734,589 -------------- DENMARK-1.45% Danske Bank A.S. (Diversified Banks) (b) 153,000 7,064,555 -------------- FINLAND-5.25% Nokia Oyj (Communications Equipment) (b) 511,710 11,261,265 Stora Enso Oyj -Class R (Paper Products) (a)(b) 363,600 6,093,718 UPM-Kymmene Oyj (Paper Products) (a)(b) 316,400 8,153,180 -------------- 25,508,163 -------------- FRANCE-7.32% Compagnie Generale des Etablissements Michelin -Class B (Tires & Rubber) (b) 86,522 7,916,672 Credit Agricole S.A. (Diversified Banks) (a)(b) 160,160 6,908,772 Societe Generale -ADR (Diversified Banks) (c) 138,900 4,891,350 Thomson (Consumer Electronics) (a)(b) 424,500 8,085,979 Total S.A. -ADR (Integrated Oil & Gas) 114,300 7,778,115 -------------- 35,580,888 -------------- GERMANY-2.84% BASF A.G. (Diversified Chemicals) (b) 77,600 7,500,719 Bayerische Motoren Werke A.G. (Automobile Manufacturers) (b) 102,400 6,276,094 -------------- 13,776,813 -------------- HONG KONG-2.46% Cheung Kong (Holdings) Ltd. (Real Estate Management & Development) (b) 351,000 4,653,476
SHARES VALUE ---------- -------------- HONG KONG-(CONTINUED) Hutchison Whampoa Ltd. (Industrial Conglomerates) (a)(b) 733,100 $ 7,321,868 -------------- 11,975,344 -------------- ITALY-1.61% Eni S.p.A -ADR (Integrated Oil & Gas) 121,500 7,833,105 -------------- JAPAN-18.80% Canon Inc. (Office Electronics) (b) 203,900 10,754,542 East Japan Railway Co. (Railroads) (b) 1,016 7,065,399 FUJIFILM Holdings Corp. (Photographic Products) (b) 272,200 11,254,271 Kao Corp. (Household Products) (a)(b) 146,000 4,189,108 Nippon Telegraph and Telephone Corp. (Integrated Telecommunication Services) (b) 1,048 5,241,299 NOK Corp. (Auto Parts & Equipment) (a)(b) 237,500 4,177,018 Nomura Holdings, Inc. (Investment Banking & Brokerage) 352,100 7,162,790 Seven & I Holdings Co., Ltd. (Food Retail) (b) 210,200 6,333,830 Shin-Etsu Chemical Co., Ltd. (Specialty Chemicals) (b) 65,700 4,295,261 SMC Corp. (Industrial Machinery) (b) 43,200 6,231,685 Sony Corp. -ADR (Consumer Electronics) 233,500 10,818,055 Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) (b) 141,000 9,205,222 Toyota Motor Corp. (Automobile Manufacturers) (b) 70,400 4,639,199 -------------- 91,367,679 -------------- MEXICO-2.15% Fomento Economico Mexicano, S.A. de C.V. -ADR (Soft Drinks) 37,200 4,466,604 Telefonos de Mexico S.A. de C.V. -Series L -ADR (Integrated Telecommunication Services) 195,100 5,989,570 -------------- 10,456,174 -------------- NETHERLANDS-10.66% Aegon N.V. (Life & Health Insurance) (b) 738,500 14,582,126 Heineken N.V. (Brewers) (b) 174,400 8,854,763 ING Groep N.V. -ADR (Other Diversified Financial Services) 106,600 4,696,796 Koninklijke (Royal) Philips Electronics N.V. -New York Shares (Consumer Electronics) 121,200 4,744,980 TNT N.V. (Air Freight & Logistics) (b) 253,750 11,539,113
F-1 AIM International Core Equity Fund
SHARES VALUE ---------- -------------- NETHERLANDS-(CONTINUED) Unilever N.V. (Packaged Foods & Meats) (b) 277,200 $ 7,379,493 -------------- 51,797,271 -------------- NORWAY-0.58% Statoil A.S.A. (Integrated Oil & Gas) (a)(b) 105,000 2,818,235 -------------- SOUTH KOREA-2.69% Kookmin Bank (Diversified Banks) 57,400 4,566,394 Korea Electric Power Corp. -ADR (Electric Utilities) 126,500 2,893,055 KT Corp. -ADR (Integrated Telecommunication Services) 243,000 5,613,300 -------------- 13,072,749 -------------- SPAIN-0.75% Repsol YPF, S.A. -ADR (Integrated Oil & Gas) (a) 110,800 3,648,644 -------------- SWEDEN-1.38% Nordea Bank A.B. (Diversified Banks) (b) 426,600 6,689,612 -------------- SWITZERLAND-8.63% Credit Suisse Group (Diversified Capital Markets) (b) 122,200 8,668,252 Nestle S.A. (Packaged Foods & Meats) 34,500 12,655,270 Novartis A.G. (Pharmaceuticals) (b) 197,800 11,419,813 Zurich Financial Services A.G. (Multi-Line Insurance) (b) 34,125 9,211,528 -------------- 41,954,863 -------------- TAIWAN-0.53% Taiwan Semiconductor Manufacturing Co. Ltd. -ADR (Semiconductors) (a) 235,568 2,570,047 -------------- UNITED KINGDOM-25.08% Anglo American PLC (Diversified Metals & Mining) (b) 115,000 5,361,680 BAE Systems PLC (Aerospace & Defense) (b) 1,095,500 9,057,116 BP PLC (Integrated Oil & Gas) (b) 802,100 8,473,623 Diageo PLC (Distillers & Vintners) (b) 397,300 7,743,723 GlaxoSmithKline PLC (Pharmaceuticals) (b) 429,300 11,578,140 HSBC Holdings PLC -ADR (Diversified Banks) (a) 160,700 14,757,081 Kingfisher PLC (Home Improvement Retail) (b) 1,571,710 7,412,680 Lloyds TSB Group PLC (Diversified Banks) (b) 876,600 10,055,239 Morrison (William) Supermarkets PLC (Food Retail) (b) 1,706,000 9,504,480 Reed Elsevier PLC (Publishing) (b) 528,600 6,047,104 Royal Bank of Scotland Group PLC (Diversified Banks) (b) 382,800 15,465,112 Royal Dutch Shell PLC -ADR (Integrated Oil & Gas) 67,650 4,617,112
SHARES VALUE ---------- -------------- UNITED KINGDOM-(CONTINUED) Vodafone Group PLC (Wireless Telecommunication Services) (b) 4,051,450 $ 11,829,706 -------------- 121,902,796 -------------- Total Foreign Common Stocks & Other Equity Interests (Cost $337,415,835) 467,266,358 -------------- MONEY MARKET FUNDS-3.92% Liquid Assets Portfolio -Institutional Class (d) 9,539,805 9,539,805 Premier Portfolio -Institutional Class (d) 9,539,806 9,539,806 -------------- Total Money Market Funds (Cost $19,079,611) 19,079,611 -------------- TOTAL INVESTMENTS (excluding investments purchased with cash collateral from securities loaned) -100.06% (Cost $356,495,446) 486,345,969 -------------- INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS-9.60% Premier Portfolio -Institutional Class (d)(e) 46,649,258 46,649,258 -------------- Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $46,649,258) 46,649,258 -------------- TOTAL INVESTMENTS-109.66% (Cost $403,144,704) 532,995,227 -------------- OTHER ASSETS LESS LIABILITIES-(9.66)% (46,946,165) -------------- NET ASSETS-100.00% $ 486,049,062 ==============
Investment Abbreviations: ADR -- American Depositary Receipt Notes to Schedule of Investments: (a) All or a portion of this security was out on loan at January 31, 2007. (b) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2007 was $345,173,128, which represented 71.02% of the Fund's Net Assets. See Note 1A. (c) In accordance with the procedures established by the Board of Trustees, security fair valued based on an evaluated quote provided by an independent pricing service. The value of this security at January 31, 2007 represented 1.01% of the Fund's Net Assets. See Note 1A. (d) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (e) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-2 AIM International Core Equity Fund NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2007 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. If market quotations are available and reliable for foreign exchange traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that are significant and may make the closing price unreliable, the Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following F-3 AIM International Core Equity Fund A. SECURITY VALUATIONS - (CONTINUED) procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. The Fund may invest in foreign securities which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Taxes are accrued based on the Fund's current interpretation of tax regulations and rates that exist in the foreign markets in which the Fund invests. F-4 AIM International Core Equity Fund E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. Fluctuations in the value of these contracts are recorded as unrealized appreciation (depreciation) until the contracts are closed. When these contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains and losses on these contracts are included in the Statement of Operations. The Fund could be exposed to risk, which may be in excess of the amount reflected in the Statement of Assets and Liabilities, if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to procedures approved by the Board of Trustees, to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2007. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- -------- -------- Liquid Assets Portfolio- Institutional Class $ 9,805,775 $12,753,531 $(13,019,501) $-- $ 9,539,805 $107,783 $-- Premier Portfolio- Institutional Class 9,805,776 12,753,531 (13,019,501) -- 9,539,806 107,156 -- ----------- ----------- ------------ --- ----------- -------- --- SUBTOTAL $19,611,551 $25,507,062 $(26,039,002) $-- $19,079,611 $214,939 $-- ----------- ----------- ------------ --- ----------- -------- ---
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED REALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND GAIN FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME * (LOSS) - ---- ----------- ------------ ------------- -------------- ----------- -------- -------- Premier Portfolio- Institutional Class $42,344,459 $ 95,462,917 $ (91,158,118) $-- $46,649,258 $ 30,779 $-- ----------- ------------ ------------- --- ----------- -------- --- TOTAL INVESTMENTS IN AFFILIATES $61,956,010 $120,969,979 $(117,197,120) $-- $65,728,869 $245,718 $-- =========== ============ ============= === =========== ======== ===
* Net of compensation to counterparties. F-5 AIM International Core Equity Fund NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. At January 31, 2007, securities with an aggregate value of $44,728,912 were on loan to brokers. The loans were secured by cash collateral of $46,649,258 received by the Fund and subsequently invested in an affiliated money market fund. For the three months ended January 31, 2007, the Fund received dividends on cash collateral investments of $30,779 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Fund during the three months ended January 31, 2007 was $35,300,572 and $15,963,874, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as wash sales, that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $129,736,797 Aggregate unrealized (depreciation) of investment securities (4,751,486) ------------ Net unrealized appreciation of investment securities $124,985,311 ============
Cost of investments for tax purposes is $408,009,916. F-6 AIM INTERNATIONAL GROWTH FUND Quarterly Schedule of Portfolio Holdings - January 31, 2007 AIMinvestments.com IGR-QTR-1 1/07 A I M Advisors, Inc. [AIM INVESTMENTS LOGO APPEARS HERE] --Registered Trademark--
AIM International Growth Fund SCHEDULE OF INVESTMENTS January 31, 2007 (Unaudited)
SHARES VALUE ---------- -------------- FOREIGN COMMON STOCKS & OTHER EQUITY INTERESTS-89.44% AUSTRALIA-3.38% Babcock & Brown Ltd. (Other Diversified Financial Services) (a) 1,098,900 $ 22,296,940 BHP Billiton Ltd. (Diversified Metals & Mining) (a) 1,545,300 31,629,521 Brambles Ltd. (Diversified Commercial & Professional Services) (b) 2,441,293 26,315,205 QBE Insurance Group Ltd. (Property & Casualty Insurance) (a) 877,500 21,084,963 -------------- 101,326,629 -------------- BELGIUM-2.35% InBev N.V. (Brewers) (a) 671,400 43,286,027 KBC Groep N.V. (Diversified Banks) (a) 216,004 27,239,581 -------------- 70,525,608 -------------- BRAZIL-0.75% All America Latina Logistica (Railroads) (c) 2,064,900 22,359,502 CANADA-3.32% Canadian National Railway Co. (Railroads) 516,900 23,567,337 Canadian Natural Resources Ltd. (Oil & Gas Exploration & Production) 407,200 20,361,730 Manulife Financial Corp. (Life & Health Insurance) 701,804 23,677,759 Suncor Energy, Inc. (Integrated Oil & Gas) 432,800 32,072,882 -------------- 99,679,708 -------------- CHINA-1.17% Ping An Insurance (Group) Co. of China Ltd. -Class H (Life & Health Insurance) (a) 7,215,000 35,079,520 DENMARK-0.97% Novo Nordisk A.S. -Class B (Pharmaceuticals) (a) 338,006 29,092,343 FRANCE-9.30% Axa (Multi-Line Insurance) (a) 794,972 33,739,974 BNP Paribas (Diversified Banks) (a) 513,587 57,696,046 Cap Gemini S.A. (IT Consulting & Other Services) (a) 391,734 24,937,592 Sanofi-Aventis (Pharmaceuticals) (a) 241,091 21,293,136 Societe Generale (Diversified Banks) 217,700 38,443,725 Total S.A. (Integrated Oil & Gas) (a) 628,956 42,468,783
SHARES VALUE ---------- -------------- FRANCE-(CONTINUED) Vinci S.A. (Construction & Engineering) (a) 437,960 $ 60,440,968 -------------- 279,020,224 -------------- GERMANY-7.25% Bayer A.G. (Diversified Chemicals) (a) 616,945 36,452,362 Commerzbank A.G. (Diversified Banks) (a) 884,394 37,553,460 Continental A.G. (Tires & Rubber) 177,300 21,456,810 MAN A.G. (Industrial Machinery) 323,270 34,007,467 Merck KGaA (Pharmaceuticals) (a) 180,386 21,032,218 Puma A.G. Rudolf Dassler Sport (Footwear) (a) 98,270 35,837,986 Siemens A.G. (Industrial Conglomerates) (a) 282,350 31,101,877 -------------- 217,442,180 -------------- GREECE-0.91% OPAP S.A. (Casinos & Gaming) (a) 726,490 27,285,584 HONG KONG-1.50% Esprit Holdings Ltd. (Apparel Retail) (a) 2,723,700 27,830,477 Hutchison Whampoa Ltd. (Industrial Conglomerates) (a) 1,721,000 17,188,563 -------------- 45,019,040 -------------- HUNGARY-0.87% OTP Bank Nyrt. (Diversified Banks) (a) 583,129 26,111,993 INDIA-2.72% Bharat Heavy Electricals Ltd. (Heavy Electrical Equipment) (a) 280,000 15,997,530 Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) (a) 474,536 18,063,717 Infosys Technologies Ltd. (IT Consulting & Other Services) (a) 928,576 47,585,260 -------------- 81,646,507 -------------- INDONESIA-0.66% PT Telekomunikasi Indonesia -Series B (Integrated Telecommunication Services) (a) 18,898,000 19,732,209 IRELAND-2.60% Anglo Irish Bank Corp. PLC (Diversified Banks) (a) 2,294,515 46,602,962 CRH PLC (Construction Materials) 798,927 31,548,409 -------------- 78,151,371 --------------
F-1 AIM International Growth Fund
SHARES VALUE ---------- -------------- ISRAEL-0.95% Teva Pharmaceutical Industries Ltd. -ADR (Pharmaceuticals) 808,502 $ 28,378,420 ITALY-1.37% Eni S.p.A. (Integrated Oil & Gas) (a) 1,272,749 41,061,381 JAPAN-12.99% AEON Co., Ltd. (Hypermarkets & Super Centers) (a) 884,600 19,278,629 Canon Inc. (Office Electronics) (a) 849,400 44,800,924 Denso Corp. (Auto Parts & Equipment) 532,100 21,340,438 FANUC Ltd. (Industrial Machinery) (a) 375,600 35,018,057 Hitachi High-Technologies Corp. (Trading Companies & Distributors) 645,100 19,457,773 Hoya Corp. (Electronic Equipment Manufacturers) (a) 490,600 17,830,233 IBIDEN Co., Ltd. (Electronic Equipment Manufacturers) (a) 455,000 22,638,241 JSR Corp. (Specialty Chemicals) (a) 643,400 15,327,288 Keyence Corp. (Electronic Equipment Manufacturers) (a) 94,200 21,258,441 Komatsu Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) 873,000 18,663,431 Mizuho Financial Group, Inc. (Diversified Banks) (Acquired 10/24/05; Cost $9,401,000)(a)(d) 1,564 11,297,263 Mizuho Financial Group, Inc. (Diversified Banks) (a) 1,896 13,695,404 Nissan Motor Co., Ltd. (Automobile Manufacturers) (a) 2,288,200 28,602,598 ORIX Corp. (Consumer Finance) (a) 112,900 32,477,553 Suzuki Motor Corp. (Automobile Manufacturers) 792,000 22,772,953 Toyota Motor Corp. (Automobile Manufacturers) (a) 687,000 45,271,729 -------------- 389,730,955 -------------- MEXICO-2.28% America Movil S.A. de C.V. -Series L -ADR (Wireless Telecommunication Services) 622,400 27,609,664 Grupo Televisa S.A. -ADR (Broadcasting & Cable TV) 628,500 18,515,610 Wal-Mart de Mexico S.A. de C.V. -Series V (Hypermarkets & Super Centers) 5,012,600 22,192,669 -------------- 68,317,943 -------------- NETHERLANDS-1.40% Heineken Holding N.V. (Brewers) (a) 732,397 31,778,930 ING Groep N.V. (Other Diversified Financial Services) (a) 236,270 10,335,420 -------------- 42,114,350 -------------- NORWAY-1.03% Petroleum Geo-Services A.S.A. (Oil & Gas Equipment & Services) (a)(b) 1,320,000 30,937,958
SHARES VALUE ---------- -------------- RUSSIA-0.49% LUKOIL -ADR (Integrated Oil & Gas) 184,400 $ 14,586,040 SINGAPORE-1.35% Keppel Corp. Ltd. (Industrial Conglomerates) (a) 1,941,000 22,768,940 United Overseas Bank Ltd. (Diversified Banks) (a) 1,421,000 17,612,649 -------------- 40,381,589 -------------- SOUTH AFRICA-1.17% Standard Bank Group Ltd. (Diversified Banks) (a) 1,490,561 20,418,669 Telkom South Africa Ltd. (Integrated Telecommunication Services) (a) 653,600 14,561,996 -------------- 34,980,665 -------------- SOUTH KOREA-1.95% Hana Financial Group Inc. (Diversified Banks) (a) 349,000 17,286,757 Hyundai Heavy Industries Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) (a) 85,000 12,286,291 Samsung Electronics Co., Ltd. (Semiconductors) (a) 46,690 28,909,231 -------------- 58,482,279 -------------- SPAIN-2.32% Banco Santander Central Hispano S.A (Diversified Banks) (a) 1,518,310 28,912,305 Industria de Diseno Textil, S.A. (Apparel Retail) (a) 713,195 40,608,081 -------------- 69,520,386 -------------- SWEDEN-1.59% Atlas Copco A.B. -Class A (Industrial Machinery) (a) 832,600 28,674,903 Swedish Match A.B. (Tobacco) 1,078,700 19,090,525 -------------- 47,765,428 -------------- SWITZERLAND-9.28% Compagnie Financiere Richemont S.A. -Class A (Apparel, Accessories & Luxury Goods) (a)(e) 751,160 41,918,449 Credit Suisse Group (Diversified Capital Markets) (a) 436,208 30,942,395 Nestle S.A. (Packaged Foods & Meats) 98,846 36,258,633 Roche Holding A.G. (Pharmaceuticals) (a) 318,514 60,040,954 Syngenta A.G. (Fertilizers & Agricultural Chemicals) (a) (b) 311,990 57,655,229 UBS A.G. (Diversified Capital Markets) (a) 819,303 51,492,314 -------------- 278,307,974 --------------
SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-2 AIM International Growth Fund
SHARES VALUE ---------- -------------- TAIWAN-2.32% Hon Hai Precision Industry Co., Ltd. (Electronic Manufacturing Services) (a) 4,826,740 $ 33,014,453 MediaTek Inc. (Semiconductors) (a) 1,818,300 19,862,631 Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors) (a) 8,165,320 16,865,848 -------------- 69,742,932 -------------- TURKEY-0.86% Akbank T.A.S. (Diversified Banks) (a) 4,014,806 25,863,171 UNITED KINGDOM-10.34% Aviva PLC (Multi-Line Insurance) (a) 1,616,451 26,177,873 Capita Group PLC (Human Resource & Employment Services) 1,859,900 23,167,282 Enterprise Inns PLC (Restaurants) (a) 1,445,200 18,314,716 Imperial Tobacco Group PLC (Tobacco) 1,054,322 43,044,241 Informa PLC (Publishing) (a) 2,475,748 27,255,604 International Power PLC (Independent Power Producers & Energy Traders) 4,628,264 32,758,074 Reckitt Benckiser PLC (Household Products) (a) 715,030 34,499,362 Shire PLC (Pharmaceuticals) (a) 1,609,100 33,915,439 Tesco PLC (Food Retail) (a) 3,733,203 30,732,769 WPP Group PLC (Advertising) (a) 2,741,918 40,338,499 -------------- 310,203,859 -------------- Total Foreign Common Stocks & Other Equity Interests (Cost $1,557,725,898) 2,682,847,748 -------------- FOREIGN PREFERRED STOCKS-4.11% BRAZIL-1.18% Companhia de Bebidas das Americas -Pfd.-ADR (Brewers) 393,700 20,366,101 Petroleo Brasileiro S.A. Pfd.-ADR (Integrated Oil & Gas) 168,700 14,963,690 -------------- 35,329,791 -------------- GERMANY-2.93% Henkel KGaA -Pfd. (Household Products) (a) 287,141 44,932,575 Porsche A.G. -Pfd. (Automobile Manufacturers) (f) 34,055 43,021,421 87,953,996 -------------- Total Foreign Preferred Stocks (Cost $73,807,517) 123,283,787 -------------- MONEY MARKET FUNDS-6.14% Liquid Assets Portfolio -Institutional Class (g) 92,136,378 92,136,378 Premier Portfolio -Institutional Class (g) 92,136,378 92,136,378 -------------- Total Money Market Funds (Cost $184,272,756) 184,272,756 --------------
SHARES VALUE ---------- -------------- TOTAL INVESTMENTS (excluding investments $2,990,404,291 purchased with cash collateral from securities loaned)-99.69% (Cost $1,815,806,171) INVESTMENTS PURCHASED WITH CASH COLLATERAL FROM SECURITIES LOANED MONEY MARKET FUNDS-0.33% Liquid Assets Portfolio -Institutional Class (g)(h) 9,904,698 9,904,698 -------------- Total Money Market Funds (purchased with cash collateral from securities loaned) (Cost $9,904,698) 9,904,698 -------------- TOTAL INVESTMENTS-100.02% (Cost $1,825,710,869) 3,000,308,989 -------------- OTHER ASSETS LESS LIABILITIES-(0.02)% (544,006) -------------- NET ASSETS-100.00% $2,999,764,983 ==============
Investment Abbreviations: ADR -- American Depositary Receipt Pfd. -- Preferred Notes to Schedule of Investments: (a) In accordance with the procedures established by the Board of Trustees, the foreign security is fair valued using adjusted closing market prices. The aggregate value of these securities at January 31, 2007 was $2,124,797,175, which represented 70.83% of the Fund's Net Assets. See Note 1A. (b) Non-income producing security. (c) Each unit represents one common share and four preferred shares. (d) Security not registered under the Securities Act of 1933, as amended (e.g., the security was purchased in a Rule 144A transaction or a Regulation D transaction). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The Fund has no rights to demand registration of these securities. The value of this security at January 31, 2007 represented 0.38% of the Fund's Net Assets. Unless otherwise indicated, this security is not considered to be illiquid. (e) Each unit represents one A bearer share in the company and one bearer share participation certificate in Richemont S.A. (f) All or a portion of this security was out on loan at January 31, 2007. (g) The money market fund and the Fund are affiliated by having the same investment advisor. See Note 2. (h) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned. See Note 3. SEE ACCOMPANYING NOTES WHICH ARE AN INTEGRAL PART OF THIS SCHEDULE. F-3 AIM International Growth Fund NOTES TO QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS January 31, 2007 (Unaudited) NOTE 1 -- SIGNIFICANT ACCOUNTING POLICIES A. SECURITY VALUATIONS - Securities, including restricted securities, are valued according to the following policy. A security listed or traded on an exchange (except convertible bonds) is valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded, or lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on the prices furnished by independent pricing services, in which case the securities may be considered fair valued, or by market makers. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and the ask prices from the exchange on which they are principally traded. Options not listed on an exchange are valued by an independent source at the mean between the last bid and ask prices. For purposes of determining net asset value per share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange ("NYSE"). Investments in open-end and closed-end registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in open-end and closed-end registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Debt obligations (including convertible bonds) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate, yield, quality, type of issue, coupon rate, maturity, individual trading characteristics and other market data. Short-term obligations having 60 days or less to maturity and commercial paper are recorded at amortized cost which approximates value. Foreign securities (including foreign exchange contracts) are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the NYSE. If market quotations are available and reliable for foreign exchange traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that are significant and may make the closing price unreliable, the Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, ADRs and domestic and foreign index futures. Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources and are valued at the last bid price in the case of equity securities and in the case of debt obligations, the mean between the last bid and asked prices. Securities for which market quotations are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trust's officers following F-4 AIM International Growth Fund A. SECURITY VALUATIONS - (CONTINUED) procedures approved by the Board of Trustees. Issuer specific events, market trends, bid/ask quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security's fair value. B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME - Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income is recorded on the ex-dividend date. Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the realized and unrealized net gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Fund's net asset value and, accordingly, they reduce the Fund's total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Fund and the advisor. The Fund allocates income and realized and unrealized capital gains and losses to a class based on the relative net assets of each class. C. COUNTRY DETERMINATION - For the purposes of making investment selection decisions and presentation in the Schedule of Investments, AIM may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer's securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America unless otherwise noted. D. FOREIGN CURRENCY TRANSLATIONS - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statement of Operations. Reported net realized foreign currency gains or losses arise from (i) sales of foreign currencies, (ii) currency gains or losses realized between the trade and settlement dates on securities transactions, and (iii) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates. The Fund may invest in foreign securities which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Taxes are accrued based on the Fund's current interpretation of tax regulations and rates that exist in the foreign markets in which the Fund invests. F-5 AIM International Growth Fund E. FOREIGN CURRENCY CONTRACTS - A foreign currency contract is an obligation to purchase or sell a specific currency for an agreed-upon price at a future date. The Fund may enter into a foreign currency contract to attempt to minimize the risk to the Fund from adverse changes in the relationship between currencies. The Fund may also enter into a foreign currency contract for the purchase or sale of a security denominated in a foreign currency in order to "lock in" the U.S. dollar price of that security. Fluctuations in the value of these contracts are recorded as unrealized appreciation (depreciation) until the contracts are closed. When these contracts are closed, realized gains (losses) are recorded. Realized and unrealized gains and losses on these contracts are included in the Statement of Operations. The Fund could be exposed to risk, which may be in excess of the amount reflected in the Statement of Assets and Liabilities, if counterparties to the contracts are unable to meet the terms of their contracts or if the value of the foreign currency changes unfavorably. NOTE 2 -- INVESTMENTS IN AFFILIATES The Fund is permitted, pursuant to procedures approved by the Board of Trustees, to invest daily available cash balances and cash collateral from securities lending transactions in affiliated money market funds. The Fund and the money market funds below have the same investment advisor and therefore, are considered to be affiliated. The tables below show the transactions in and earnings from investments in affiliated money market funds for the three months ended January 31, 2007. INVESTMENTS OF DAILY AVAILABLE CASH BALANCES:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME GAIN (LOSS) - ---- ------------ ------------ ------------- -------------- ------------ ---------- ----------- Liquid Assets Portfolio - Institutional Class $ 77,178,022 $ 95,964,818 $ (81,006,462) $-- $ 92,136,378 $1,209,503 $-- Premier Portfolio- Institutional Class 77,178,022 95,964,818 (81,006,462) -- 92,136,378 1,201,948 -- ------------ ------------ ------------- --- ------------ ---------- --- SUBTOTAL $154,356,044 $191,929,636 $(162,012,924) $-- $184,272,756 $2,411,451 $-- ============ ============ ============= === ============ ========== ===
INVESTMENTS OF CASH COLLATERAL FROM SECURITIES LENDING TRANSACTIONS:
CHANGE IN UNREALIZED VALUE PURCHASES AT PROCEEDS FROM APPRECIATION VALUE DIVIDEND REALIZED FUND 10/31/06 COST SALES (DEPRECIATION) 01/31/07 INCOME* GAIN (LOSS) - ---- ------------ ------------ ------------- -------------- ------------ ---------- ----------- Liquid Assets Portfolio - Institutional Class $ 71,397,200 $229,059,993 $(290,552,495) $-- $ 9,904,698 $ 4,057 $-- ------------ ------------ ------------- --- ------------ ---------- --- TOTAL INVESTMENTS IN AFFILIATES $225,753,244 $420,989,629 $(452,565,419) $-- $194,177,454 $2,415,508 $-- ============ ============ ============= === ============ ========== ===
* Net of compensation to counterparties. F-6 AIM International Growth Fund NOTE 3 -- PORTFOLIO SECURITIES LOANED The Fund may lend portfolio securities having a market value up to one-third of the Fund's total assets. Such loans are secured by collateral equal to no less than the market value of the loaned securities determined daily. Such collateral will be cash or debt securities issued or guaranteed by the U.S. Government or any of its agencies. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated money market funds. It is the Fund's policy to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. Lending securities entails a risk of loss to the Fund if and to the extent that the market value of the securities loaned were to increase and the borrower did not increase the collateral accordingly, and the borrower fails to return the securities. The Fund could also experience delays and costs in gaining access to the collateral. The Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. At January 31, 2007, securities with an aggregate value of $9,323,098 were on loan to brokers. The loans were secured by cash collateral of $9,904,698 received by the Fund and subsequently invested in an affiliated money market fund. For the three months ended January 31, 2007, the Fund received dividends on cash collateral investments of $4,057 for securities lending transactions, which are net of compensation to counterparties. NOTE 4 -- INVESTMENT SECURITIES LOANED The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Fund during the three months ended January 31, 2007 was $254,474,466 and $145,333,642, respectively. For interim reporting periods, the cost of investments for tax purposes includes reversals of certain tax items, such as wash sales, that have occurred since the prior fiscal year-end. UNREALIZED APPRECIATION (DEPRECIATION) OF INVESTMENT SECURITIES ON A TAX BASIS Aggregate unrealized appreciation of investment securities $1,166,239,653 Aggregate unrealized (depreciation) of investment securities (3,586,565) -------------- Net unrealized appreciation of investment securities $1,162,653,088 ==============
Cost of investments for tax purposes is $1,837,655,901. F-7 Item 2. Controls and Procedures. (a) As of March 15, 2007, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO"), to assess the effectiveness of the Registrant's disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 ("Act"), as amended. Based on that evaluation, the Registrant's officers, including the PEO and PFO, concluded that, as of March 15, 2007, the Registrant's disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. (b) There have been no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. Item 3. Exhibits. Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Registrant: AIM International Mutual Funds By: /s/ Philip A. Taylor --------------------------------- Philip A. Taylor Principal Executive Officer Date: March 30, 2007 Pursuant to the requirements of the Securities and Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. By: /s/ Philip A. Taylor --------------------------------- Philip A. Taylor Principal Executive Officer Date: March 30, 2007 By: /s/ Sidney M. Dilgren --------------------------------- Sidney M. Dilgren Principal Financial Officer Date: March 30, 2007 EXHIBIT INDEX Certifications of Principal Executive Officer ("PEO") and Principal Financial Officer ("PFO") as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended. EX-99.CERT 2 h45002exv99wcert.txt CERTIFICATIONS PURSUANT TO SECTION 302 I, Philip A. Taylor, Principal Executive Officer, certify that: 1. I have reviewed this report on Form N-Q of AIM International Mutual Funds; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; (d) Disclosed in this report any change in this registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ Philip A. Taylor Date: March 30, 2007 ---------------------------------------- Philip A. Taylor, Principal Executive Officer I, Sidney M. Dilgren, Principal Financial Officer, certify that: 1. I have reviewed this report on Form N-Q of AIM International Mutual Funds; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidating subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; (d) Disclosed in this report any change in this registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ Sidney M. Dilgren Date: March 30, 2007 ---------------------------------------- Sidney M. Dilgren, Principal Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----