11:30 AM
Investors get more ways into Build America Bonds - the subsidized muni bond program - as Eaton Vance (EV) launches a mutual fund dedicated to the debt, and Invesco (IVZ) kicks off its BAB portfolio ETF. The bonds have taken off quickly, as volume crossed the $50B mark this month, but they may end up costly to the government. (previously)
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Tuesday, October 20, 2009
09:53 AMInvesco (IVZ): Q3 EPS of $0.24 in-line. Revenue of $706M vs. $687M. Shares +3.6% premarket. IVZ announced yesterday it would acquire Morgan Stanley's (MS) retail asset management business, including Van Kampen Investments." Shares +3.8%. (PR)
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Monday, October 19, 2009
19:22 PMAs expected, Invesco (IVZ) will buy Morgan Stanley's (MS) Van Kampen fund unit, for $1.5B - $500M in cash, and Morgan Stanley will take a 9.4% stake in Invesco. The deal, expected to close mid-2010, will remove some sales limits that Van Kampen managers faced since the Morgan Stanley Smith Barney JV closed.
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Friday, October 2, 2009
07:40 AM
Sources say mutual-fund manager Invesco (IVZ) is the lead candidate to acquire Morgan Stanley's (MS) Van Kampen fund unit. Morgan Stanley is looking to sell a majority stake in Van Kampen for $1-$2B.
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Wednesday, September 30, 2009
15:45 PM
Treasury seen launching its long-awaited PPIP toxic asset soak-up scheme this week, and according to a Breaking News headline on WSJ, investors have so far agreed to plow more than $1.13B into the plan. Update: Two funds, Invesco (IVZ) and TCW Group have so far raised enough to enter the program; their $1.13B will give them $4.52B in buying power.
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Wednesday, September 2, 2009
09:11 AM
Sources say Morgan Stanley (MS) is looking for a very large partner with whom to share its $86B Van Kampen mutual-fund business in a JV, instead of selling the unit as had been assumed. Possible good fits include: Invesco (IVZ), Franklin Resources (BEN), Aberdeen, Federated Investors (FII) and Nuveen.
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Tuesday, June 2, 2009
11:16 AM
Invesco (IVZ) opens a balanced mutual fund that aims to protect investors when financial markets fall. Designed to 'balance risk,' the fund will invest 60% in fixed-income securities, 20% in stocks and 20% in commodities.
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