Sources say that Invesco, Ltd., an American independent investment management company in in Atlanta, Georgia, will buy OppenheimerFunds, a leading global asset manager located in New York City. The acquisition would bring $248 billion in new client assets.
According to the PLANADVISER DCIO survey, Oppenheimer’s total DCIO assets are over $48 billion. Their top fund is the Developing Markets Fund/Emerging Markets Equity Strategy. Oppenheimer is the 12th largest U.S. mutual fund family by assets; Invesco is the 14th, according to data from Morningstar.
MassMutual is the parent company of Oppenheimer. Oppenheimer was purchased in 1990 from British & Commonwealth Holdings for roughly $150 million. Invesco purchased Guggenheim Investments’ exchange traded fund (ETF) business last year. At that time, it had $36.7 billion of assets under management.
In a comment to PLANSPONSOR, Invesco said that as a policy they do not comment on “rumors or speculation.”
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