Update: Invesco targets EMEA clients with Source acquisition

Boosting PowerShares business

Invesco senior management have said the proposed purchase of ETF provider Source will allow it to exploit the firm's "fiercely innovative" product range, as well as its presence in the EMEA region.

This afternoon, Invesco announced it has entered into a definitive  agreement to acquire ETF specialist Source, which will be combined with Invesco's existing PowerShares business. The transaction includes the acquisition of approximately $18bn in Source-managed assets under management (AUM), plus approximately $7bn in externally managed AUM. This adds to Invesco's PowerShares business, which has AUM of $110bn as at 31 December 2016. A statement from Source said the acquisition, for an undisclosed sum, is expected to complete in Q3 2017. Martin L. Flanagan, president and CEO of ...