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Our weekly roundup of industry highlights
Invesco buys ETF business from Guggenheim
Invesco announced that it acquired Guggenheim Investments' ETF business, which includes $36.7 billion of AUM as of Aug. 31.
The move is in an attempt to expand Invesco's active, passive and alternative capabilities, as well as its ability to offer investment objective achievement solutions to clients.
"Guggenheim Investments' ETF business is highly complementary to Invesco's, and will enable us to provide one of the industry's most comprehensive and innovative ranges of smart beta ETFs, including fixed income, equal-weight and self-indexed product offerings," Martin Flanagan, president and CEO of Invesco said in a statement. "The acquisition further expands our ability to build better, more diversified portfolios through our solutions capability, and enhances the range of capabilities available via Jemstep, our advisor-focused digital solution."
Cohen & Co. announces merger with Arthur Bell
Cohen & Co. merged with Arthur Bell to create one of the largest accounting firms in the country that specializes in ETFs, auditing mutual funds, investment advisors and hedge funds.
"Our combined expertise in hedge funds, mutual funds, and ETFs will be a tremendous advantage to our clients that are evolving to innovate and attract new investors," said Corey McLaughlin, co-president of investment industry services.
"Our focus will continue in the alternative investment industry, with elevated service offerings that more holistically support our clients' expanding business goals," he added.
Financial terms of the deal were not disclosed.
Voya increases use of iShares ETFs
Voya Financial's asset management business, Voya Investment Management, has made iShares ETFs the exclusive provider across the entire line-up of ETFs in the firm's Global...