Invesco said to mull ETF-only Guggenheim deal
Buying just the exchange-traded funds would add $36 billion in assets to its PowerShares family
Invesco’s rumored purchase of Guggenheim Partners’ retail mutual fund business may be limited to a $1 billion buyout of Guggenheim’s ETF operations, Barron’s reports.
That represents a significant rollback from previous rumors. Earlier in August, there was talk that Invesco would spend $2 billion to buy the entire Guggenheim retail business.
Guggenheim has 77 exchange-traded funds. But its 10 largest ETFs, mostly in fixed-income instruments, account for about 65% of the firm’s $36 billion in ETF assets under management, Barron’s said.
Out of its total $858 billion in managed assets, Invesco has $125 billion through its PowerShares family of ETFs, making it the fourth largest ETF manager in the industry.
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