Invesco has confirmed it is in the process of acquiring Guggenheim Investments' $36.7bn ETF business following its decision to buy Source earlier this year.
The $1.2bn deal, through a combination of cash and debt, is expected to complete in Q2 2018 after regulatory matters and ETF shareholder approval. It will bring Invesco's total ETF assets under management up to $196bn, making it the fourth largest ETF provider behind BlackRock iShares, Vanguard and State Street. Invesco said the acquisition will build on its ability to meet the needs of US clients with Guggenheim Investments' headquarters located in New York and Chicago. Its range consists of smart-beta ETFs including fixed income, equal-weight and self-indexed products. On Wed...
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