Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Invesco Says Fund Mergers Will Save Investors $78 Million Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 11, 2010

Invesco Says Fund Mergers Will Save Investors $78 Million

News summary by MFWire's editors

Invesco [see profile] continues to adjust its lineup after buying Van Kampen and the rest of Morgan Stanley<'s retail asset management business earlier this year. Yesterday the Atlanta-based mutual fund firm told investors that it plans to merge a number of funds over the next six to nine months and save fund shareholders $78 million in reduced expenses over two years thanks to the mergers.

Invesco spokesman Ivy McLemore told Bloomberg's Christopher Condon that Invesco proposes that 43 of its funds will swallow 69 others in the process and that Invesco won't get rid of any PMs or analysts due to the mergers. But who will lead the 43 surviving funds, post-mergers?

"To achieve this, our approach for realigning the funds favors those funds whose investment teams will be managing the fund on a go-forward basis and which have in place the longest tenured track record that is most representative of the team's investment process," Invesco's letter to shareholders reads.

Yet Invesco already has trimmed some positions in the wake of the Van Kampen deal. In September Morningstar reported that Invesco had "cut more than 30 investment professionals and eliminated multiple investment teams to reduce overlap in portfolio-management capabilities." 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use