Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

Fund Flash: Invesco buys ETF biz / Schroders switches managers on $4bn Asia fund

Fund Flash: Invesco buys ETF biz / Schroders switches managers on $4bn Asia fund

Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications. 

US manager buys into European ETF boutique

This week we kick off with another US asset manager buying into the expanding European passive market.

Invesco is buying Source, a London-based exchange traded fund (ETF) provider with $25 million ETF assets. Reports had suggested the Atlanta-based Invesco would pay $500 million but the fund group has not provided detail of the size of the deal.

The deal will bolster Invesco's existing ETF business, Powershares, which runs around $110 billion, strengthening the fund group's position in the $600 billion European ETF market.

Schroders manager steps back from $4bn Asia fund

Citywire A-rated Robin Parbrook will hand over responsibility for the Schroder ISF Asian Opportunities fund to Citywire + rated Toby Hudson.

Parbrook, who is set to move from the London office to Hong Kong, will continue to manage his other funds and work with Schroders’ Asian Equities team.

AXA IM divests from coal companies

AXA Investment Managers is putting strong limitations on the level of investment its funds can make in coal companies. 

In a bid to be more ‘responsible investors’ the firm will divest from companies deriving more than 50% of their revenues from coal-related activities from June 30, 2017. They expect to pull $194 million in investments.

Hermes poaches bond boutique CIO

London fund group Hermes Investment Management has hired Cairn Capital's chief investment officer, Andrew Jackson, as its new head of fixed income.

Jackson will be responsible for leading the strategic development of the credit and direct lending teams and will replace Zoe Shaw, who left the firm in 2016.  

HSBC hard-closes star managers’ Asia fund

The HSBC GIF Asia ex Japan Equity Smaller Companies will close to all new subscriptions next month as it hits $1.3 billion in assets under management.

The fund, which is managed by Citywire AAA-rated duo Elina Fung and Alex Kwan, will close on May 10 due to significant investor interest following strong performance.

Fung and Kwan have managed the fund since July 2012 and primarily invest in companies with a market capitalisation of $4 billion or below.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Latin America 2017

    Citywire Latin America 2017

  • Citywire Miami 2017

    Citywire Miami 2017

  • Citywire Santiago 2017

    Citywire Santiago 2017

  • Citywire Mexico 2017

    Citywire Mexico 2017

  • Citywire Miami 2017

    Citywire Miami 2017

  • Citywire New York 2016

    Citywire New York 2016

  • Citywire New York 2016

    Citywire New York 2016

  • Citywire Mexico 2016

    Citywire Mexico 2016

  • Citywire Mexico 2016

    Citywire Mexico 2016

  • Citywire Panama 2016

    Citywire Panama 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Miami 2016

    Citywire Miami 2016

  • Citywire Miami 2016

    Citywire Miami 2016

  • Citywire Panama 2016

    Citywire Panama 2016

  • Citywire New York 2015

    Citywire New York 2015

  • Citywire New York 2015

    Citywire New York 2015

  • Citywire New York 2015

    Citywire New York 2015