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Fund Flash: Invesco in talks to buy Guggenheim’s fund biz/ BMO launches small-cap EM fund

Fund Flash: Invesco in talks to buy Guggenheim’s fund biz/ BMO launches small-cap EM fund

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

Invesco in talks to buy Guggenheim’s fund business

Invesco is rumored to pay $2 billion for Guggenheim's retail fund business, which includes both its mutual funds and exchange-traded funds.

The Atlanta, Georgia-based mutual fund giant is in advanced talks with Guggenheim over the acquisition, according to reports from the Wall Street Journal and the Financial Times.

Invesco and Guggenheim reportedly have discussed several deal options, one of which involves Invesco only buying Guggenheim’s $30 billion ETF business.

BMO launches small-cap EM fund

BMO Global Asset Management bolstered its emerging markets offering with the launch of a smaller companies fund.

The BMO LGM Global Emerging Markets Smaller Companies fund will be managed by LGM Investments, BMO’s specialist emerging markets manager.

Citywire A-rated Irina Hunter, who currently manages several funds at the firm including the BMO LGM Global Emerging Markets Growth and Income fund, will run the strategy, with Claire Franklin as co-portfolio manager.

The fund aims to deliver long-term capital growth by investing in smaller companies either based in or deriving a significant amounts of income and profit from EM countries.

JPM AM launches duration hedged bond fund

JP Morgan Asset Management launched a new bond fund following European regulatory changes for duration hedged share classes and closed its duration hedged share classes of its global corporate bond fund.

JPM launched the fund following regulatory changes outlined by ESMA, as duration hedged share classes can no longer be offered in sub-funds that have other types of share classes.

The JPMorgan Funds – Global Corporate Bond Duration-Hedged fund was launched on July 31 and holdings from the closed share classes were merged into it.

It is managed by Citywire A-rated Lisa Coleman, Citywire AA-rated Jeremy Klein, Citywire + rated Andreas Michalitsianos, Usman Naeem and Lorenzo Napolitano.

Ex-Pimco chief takes on board role at alts firm

Specialist alternative investment firm Investcorp has appointed Allianz’s Mohamed El-Erian to its advisory board.

The former Pimco CEO has joined Investcorp’s advisory board to provide advice and guidance to the firm, which offers investments to high net worth, private and institutional clients on a global basis.

 

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