Deals
Invesco Just Took Over $39 Billion of ETFs and Now It's Slashing Fees
- Fourth-largest ETF issuer closes its Guggenheim purchase
- Firm is now lowering charges on some of the funds it bought
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Invesco Ltd. is playing aggressive defense as it shores up its spot among the largest U.S. issuers of exchange-traded funds.
The asset manager completed its acquisition of Guggenheim Investments’ $39 billion ETFs, it announced Monday, and already it’s slashing fees on some of those funds as it looks to lure new assets. It’s a savvy move for the Atlanta-based firm, which is in a state of limbo within the industry -- battling to protect its market share from smaller rivals while seeking to join the industry’s leaders.