UK fund manager Invesco last week announced plans to merge its offshore fund range with that of Perpetual, which was acquired last year by Invesco's parent company Amvescap Plc. Invesco said in a statement that the combination of the businesses would offer clients a "comprehensive range of funds incorporating broad investment styles".
Under the plan, six out of 14 Perpetual Funds will be merged into the existing Invesco range which will total 62 funds, subject to shareholder approval. Total offshore assets under management would stand at around US$13bn , with US$1bn coming from Perpetual. Once the fund ranges are merged, the surviving fund range will be branded Invesco.
The combined fund range will be administered from Invesco's Global Offshore administration hub in Dublin, and will be re-domiciled there within newly created umbrellas. Invesco said where a decision to liquidate a fund has been taken the firm will be offering favorable switching facilities to all clients into the combined fund range.
Richard Thompson, Managing Director of Offshore Sales Division at Invesco International Ltd, commented: 'The acquisition of Perpetual provides the combined business with the opportunity to offer a more comprehensive range of funds incorporating broad investing styles. The fund ranges have been merged in order to minimise overlap and achieve economies of scale. One of the key benefits of combining the funds is that we are able to accommodate complementary investment styles. We believe that across a number of key fund sectors there is an opportunity to differentiate our funds in order to give our clients a wider choice of investing options'.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment