One firm that could give BlackRock a run for its money

Invesco Ltd. is poised to challenge BlackRock Inc. for the position of world's biggest asset manager, according to Don Putnam, managing partner of Grail Partners LLC.
NOV 29, 2010
Invesco Ltd. is poised to challenge BlackRock Inc. for the position of world's biggest asset manager, according to Don Putnam, managing partner of Grail Partners LLC. Speaking at the Money Management Institute's fall conference in New York on Nov. 12, Mr. Putnam talked about how today “is the era of an operator” and that it's not enough for asset managers merely to push products . Instead, firms have to be all things to all people, he said. “BlackRock has proved to us that it's possible to be in every product in every market,” Mr. Putnam said. “Right now, it's not a money manager; it's a global delivery system for products.” With $3.35 trillion in assets under management as of Dec. 31, BlackRock offers exchange-traded funds and mutual funds, as well as active and passively managed products, he said. What's more, its performance across all categories is stellar. BlackRock acquired Barclays Global Investors last year, helping to add $2 trillion in assets under management. Mr. Putnam anticipates that there will be increased consolidation in the asset management space as more firms attempt to become “operators” like BlackRock, he said. “The common wisdom — that from an investment perspective, transactions in this industry are not a success — is statistically not true,” he said. Out of 115 financial transactions in the last year, there have been only two debt refinancings and one collapse, he said. The firm that is in the best position to go head-to-head with BlackRock is Invesco, Mr. Putnam said “They have the most complete product line and a superior management team,” he said. Invesco bought Van Kampen Funds Inc. last year for $1.5 billion. The firm also offers ETFs through its PowerShares subsidiary. E-mail Jessica Toonkel at [email protected].

Latest News

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.

RIA moves: Modern Wealth tops $8.5B AUM as Aspen expands in Connecticut
RIA moves: Modern Wealth tops $8.5B AUM as Aspen expands in Connecticut

Modern Wealth's latest deal for a California-based fee-only RIA marks its fourth acquisition of 2025.

Empower defends private market access in 401(k)s in response to Warren scrutiny
Empower defends private market access in 401(k)s in response to Warren scrutiny

Sen. Warren has warned of private market investment risks due to opacity, illiquidity, and past regulatory issues.

AI is gaining traction with buy-side equity traders and may be an unstoppable force
AI is gaining traction with buy-side equity traders and may be an unstoppable force

Use of the technology is growing and asset managers see transformative benefits.

One fifth of Americans are expecting an inheritance but are too many relying on it?
One fifth of Americans are expecting an inheritance but are too many relying on it?

Research reveals expectation could be replaced by disappointment.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.