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Deals and People September 21, 2018
Sources Say Invesco Will Buy OppenheimerFunds
Oppenheimer is the 12th largest U.S. mutual fund family by assets.
Reported by Judy Faust Hartnett
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.”